Beacon Roofing Supply (NASDAQ:BECN) Price Target Increased to $117.00 by Analysts at JPMorgan Chase & Co.

Beacon Roofing Supply (NASDAQ:BECN) had its price target boosted by JPMorgan Chase & Co. from $100.00 to $117.00 in a research report sent to investors on Tuesday, Benzinga reports. They currently have an overweight rating on the stock.

A number of other analysts have also commented on BECN. Benchmark initiated coverage on shares of Beacon Roofing Supply in a research note on Thursday, April 18th. They set a buy rating and a $135.00 price target for the company. TheStreet raised shares of Beacon Roofing Supply from a c rating to a b- rating in a research report on Tuesday, February 27th. BMO Capital Markets boosted their price objective on Beacon Roofing Supply from $95.00 to $120.00 and gave the stock an outperform rating in a report on Thursday, April 11th. Loop Capital raised their target price on Beacon Roofing Supply from $110.00 to $115.00 and gave the company a buy rating in a report on Monday, April 1st. Finally, Robert W. Baird upped their price target on Beacon Roofing Supply from $115.00 to $117.00 and gave the stock an outperform rating in a report on Friday, May 3rd. Three analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat, the stock has an average rating of Moderate Buy and a consensus target price of $109.45.

Beacon Roofing Supply Trading Up 0.8 %

BECN opened at $97.06 on Tuesday. The company has a market cap of $6.17 billion, a P/E ratio of -154.06 and a beta of 1.59. The company has a fifty day moving average price of $96.79 and a two-hundred day moving average price of $89.03. The company has a current ratio of 1.87, a quick ratio of 1.02 and a debt-to-equity ratio of 1.47. Beacon Roofing Supply has a 1-year low of $63.42 and a 1-year high of $103.75.

Beacon Roofing Supply (NASDAQ:BECN) last posted its quarterly earnings results on Thursday, May 2nd. The company reported $0.41 earnings per share for the quarter, topping analysts’ consensus estimates of $0.35 by $0.06. The business had revenue of $1.91 billion for the quarter, compared to the consensus estimate of $1.88 billion. Beacon Roofing Supply had a return on equity of 26.39% and a net margin of 4.47%. Analysts predict that Beacon Roofing Supply will post 7.8 EPS for the current fiscal year.

Insider Transactions at Beacon Roofing Supply

In other Beacon Roofing Supply news, EVP Christopher Carl Nelson sold 3,268 shares of the business’s stock in a transaction dated Thursday, March 28th. The shares were sold at an average price of $93.87, for a total value of $306,767.16. Following the transaction, the executive vice president now directly owns 176 shares in the company, valued at $16,521.12. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other news, EVP Christopher Carl Nelson sold 3,268 shares of the company’s stock in a transaction on Thursday, March 28th. The stock was sold at an average price of $93.87, for a total transaction of $306,767.16. Following the transaction, the executive vice president now owns 176 shares of the company’s stock, valued at approximately $16,521.12. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Jason L. Taylor sold 1,805 shares of the stock in a transaction on Thursday, March 21st. The stock was sold at an average price of $95.00, for a total value of $171,475.00. Following the transaction, the insider now owns 10,531 shares of the company’s stock, valued at approximately $1,000,445. The disclosure for this sale can be found here. Company insiders own 1.30% of the company’s stock.

Institutional Investors Weigh In On Beacon Roofing Supply

Several institutional investors have recently made changes to their positions in the stock. Principal Financial Group Inc. lifted its holdings in Beacon Roofing Supply by 46.7% during the 3rd quarter. Principal Financial Group Inc. now owns 7,713 shares of the company’s stock worth $595,000 after purchasing an additional 2,456 shares in the last quarter. California Public Employees Retirement System purchased a new stake in shares of Beacon Roofing Supply in the third quarter worth about $3,564,000. Victory Capital Management Inc. boosted its position in shares of Beacon Roofing Supply by 18.0% in the third quarter. Victory Capital Management Inc. now owns 26,559 shares of the company’s stock valued at $2,050,000 after acquiring an additional 4,046 shares during the period. Los Angeles Capital Management LLC purchased a new position in Beacon Roofing Supply during the third quarter valued at approximately $1,201,000. Finally, Assenagon Asset Management S.A. bought a new stake in Beacon Roofing Supply during the 3rd quarter worth approximately $3,598,000. Hedge funds and other institutional investors own 98.45% of the company’s stock.

About Beacon Roofing Supply

Beacon Roofing Supply, Inc, together with its subsidiaries, engages in the distribution of residential and non-residential roofing materials, and complementary building products to contractors, home builders, building owners, lumberyards, and retailers in the United States and Canada. The company offers pitched roofing and low slope roof products; gutters and sidings; building materials, such as lumber and composite, skylights and window, plywood and OSB, decking and railing, and HVAC products; and foam board, spray foam, roll, batt, mineral wool, fiberglass, and commercial insulation products, as well as radiant barriers and blown-in insulation and equipment.