Beacon Roofing Supply, Inc. (NASDAQ:BECN) was down 5.3% during trading on Thursday . The stock traded as low as $55.06 and last traded at $55.09. Approximately 1,105,233 shares traded hands during mid-day trading, an increase of 65% from the average daily volume of 671,138 shares. The stock had previously closed at $58.15.
Several brokerages have recently weighed in on BECN. Wedbush reaffirmed a “neutral” rating and set a $46.00 target price (down from $52.00) on shares of Beacon Roofing Supply in a research note on Friday, November 17th. Citigroup reduced their target price on Beacon Roofing Supply from $65.00 to $60.00 and set a “neutral” rating for the company in a research note on Friday. Zacks Investment Research raised Beacon Roofing Supply from a “hold” rating to a “buy” rating and set a $70.00 target price for the company in a research note on Tuesday, January 23rd. Robert W. Baird reaffirmed an “outperform” rating and set a $70.00 target price (up from $55.00) on shares of Beacon Roofing Supply in a research note on Tuesday, November 21st. Finally, KeyCorp reaffirmed a “buy” rating and set a $56.00 target price on shares of Beacon Roofing Supply in a research note on Sunday, October 15th. One analyst has rated the stock with a sell rating, four have given a hold rating and seven have issued a buy rating to the company’s stock. Beacon Roofing Supply has an average rating of “Buy” and a consensus price target of $59.91.
The company has a market capitalization of $3,744.40, a price-to-earnings ratio of 24.15, a P/E/G ratio of 1.14 and a beta of 1.35. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.35 and a current ratio of 2.06.
In other news, EVP Ross D. Cooper sold 2,000 shares of the firm’s stock in a transaction dated Tuesday, November 21st. The stock was sold at an average price of $59.75, for a total transaction of $119,500.00. Following the sale, the executive vice president now owns 7,056 shares of the company’s stock, valued at approximately $421,596. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Paul Isabella sold 40,000 shares of the firm’s stock in a transaction dated Monday, November 27th. The stock was sold at an average price of $60.57, for a total value of $2,422,800.00. Following the sale, the chief executive officer now directly owns 172,046 shares in the company, valued at approximately $10,420,826.22. The disclosure for this sale can be found here. 0.77% of the stock is currently owned by company insiders.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in BECN. Zions Bancorporation acquired a new position in Beacon Roofing Supply during the third quarter worth approximately $124,000. Cerebellum GP LLC acquired a new position in Beacon Roofing Supply during the fourth quarter worth approximately $130,000. Advisor Group Inc. increased its position in Beacon Roofing Supply by 8.9% during the second quarter. Advisor Group Inc. now owns 3,877 shares of the company’s stock worth $190,000 after buying an additional 316 shares during the period. Keybank National Association OH acquired a new position in Beacon Roofing Supply during the third quarter worth approximately $210,000. Finally, CAPROCK Group Inc. acquired a new position in Beacon Roofing Supply during the fourth quarter worth approximately $212,000.
About Beacon Roofing Supply
Beacon Roofing Supply, Inc is engaged in the distribution of residential and non-residential roofing materials in the United States and Canada. It also distributes complementary building products for residential and non-residential building exteriors. Its product portfolio includes residential roofing products, non-residential roofing products and complementary building products.
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