Beacon Roofing Supply (NASDAQ:BECN) PT Raised to $85.00 at Deutsche Bank Aktiengesellschaft

Beacon Roofing Supply (NASDAQ:BECN – Get Rating) had its price target upped by equities researchers at Deutsche Bank Aktiengesellschaft from $81.00 to $85.00 in a research report issued on Monday, The Fly reports. The brokerage currently has a “buy” rating on the stock. Deutsche Bank Aktiengesellschaft’s price objective would suggest a potential upside of 30.77% from the company’s current price.

Several other research analysts have also recently issued reports on BECN. Stifel Nicolaus increased their price objective on shares of Beacon Roofing Supply from $80.00 to $91.00 and gave the company a “buy” rating in a report on Monday, December 19th. Robert W. Baird upped their price target on shares of Beacon Roofing Supply from $65.00 to $76.00 and gave the company a “neutral” rating in a research report on Monday. Royal Bank of Canada cut their target price on shares of Beacon Roofing Supply from $59.00 to $54.00 and set a “sector perform” rating for the company in a research report on Monday, November 7th. Zelman & Associates initiated coverage on shares of Beacon Roofing Supply in a research report on Tuesday, February 7th. They issued a “hold” rating for the company. Finally, Stephens lifted their price objective on shares of Beacon Roofing Supply from $65.00 to $73.00 and gave the company an “equal weight” rating in a research note on Monday. Eight investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, Beacon Roofing Supply currently has a consensus rating of “Hold” and an average target price of $70.57.

Beacon Roofing Supply Price Performance

BECN opened at $65.00 on Monday. Beacon Roofing Supply has a fifty-two week low of $45.71 and a fifty-two week high of $66.79. The company has a quick ratio of 1.10, a current ratio of 1.92 and a debt-to-equity ratio of 1.01. The firm has a market cap of $4.23 billion, a price-to-earnings ratio of 11.69 and a beta of 1.64. The company’s 50-day moving average price is $56.52 and its 200 day moving average price is $56.61.

Insider Buying and Selling at Beacon Roofing Supply

In related news, major shareholder Cd&R Investment Associates Ix, bought 107,185 shares of Beacon Roofing Supply stock in a transaction dated Monday, January 30th. The shares were bought at an average cost of $55.98 per share, for a total transaction of $6,000,216.30. Following the completion of the transaction, the insider now owns 15,072,084 shares of the company’s stock, valued at $843,735,262.32. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.95% of the company’s stock.

Institutional Investors Weigh In On Beacon Roofing Supply

Several large investors have recently bought and sold shares of the company. American Century Companies Inc. increased its position in shares of Beacon Roofing Supply by 53.5% during the fourth quarter. American Century Companies Inc. now owns 3,645,264 shares of the company’s stock worth $192,433,000 after acquiring an additional 1,270,771 shares in the last quarter. Morgan Stanley boosted its holdings in Beacon Roofing Supply by 467.9% during the fourth quarter. Morgan Stanley now owns 1,313,406 shares of the company’s stock worth $69,335,000 after purchasing an additional 1,082,141 shares during the last quarter. Premier Fund Managers Ltd acquired a new stake in Beacon Roofing Supply in the fourth quarter valued at $52,577,000. Norges Bank acquired a new stake in Beacon Roofing Supply in the fourth quarter valued at $23,585,000. Finally, Renaissance Technologies LLC lifted its stake in Beacon Roofing Supply by 542.4% in the fourth quarter. Renaissance Technologies LLC now owns 288,157 shares of the company’s stock valued at $15,212,000 after acquiring an additional 243,300 shares during the last quarter.

Beacon Roofing Supply Company Profile

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Beacon Roofing Supply, Inc engages in the distribution of residential and non-residential roofing materials. It also distributes complementary building products including siding, windows, specialty exterior building products, insulation, and waterproofing systems for building exteriors. The company was founded on August 22, 1997 and is headquartered in Herndon, VA.