Shares of Beacon Roofing Supply, Inc. (NASDAQ:BECN) have been assigned a consensus recommendation of “Hold” from the seventeen ratings firms that are currently covering the company, MarketBeat reports. Eight equities research analysts have rated the stock with a hold recommendation and six have assigned a buy recommendation to the company. The average 1 year price objective among analysts that have covered the stock in the last year is $58.23.
A number of equities analysts have recently commented on the company. Truist cut Beacon Roofing Supply from a “buy” rating to a “hold” rating and lowered their price target for the stock from $65.00 to $58.00 in a report on Monday, November 29th. They noted that the move was a valuation call. TheStreet upgraded shares of Beacon Roofing Supply from a “c+” rating to a “b” rating in a research note on Friday, August 6th. Stephens upped their price objective on shares of Beacon Roofing Supply from $56.00 to $62.00 and gave the stock an “equal weight” rating in a research report on Wednesday, November 24th. Royal Bank of Canada raised shares of Beacon Roofing Supply from a “sector perform” rating to an “outperform” rating and set a $63.00 price objective for the company in a research note on Monday, October 18th. They noted that the move was a valuation call. Finally, Berenberg Bank downgraded shares of Beacon Roofing Supply from a “buy” rating to a “hold” rating in a report on Thursday, August 12th.
In related news, major shareholder Cd&R Investment Associates Ix, acquired 116,945 shares of the stock in a transaction dated Friday, October 29th. The stock was bought at an average cost of $51.31 per share, for a total transaction of $6,000,447.95. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 1.00% of the company’s stock.
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A number of institutional investors and hedge funds have recently modified their holdings of the business. FMR LLC raised its position in shares of Beacon Roofing Supply by 31.6% in the 2nd quarter. FMR LLC now owns 7,074,317 shares of the company’s stock worth $376,709,000 after acquiring an additional 1,698,745 shares in the last quarter. American Century Companies Inc. grew its stake in Beacon Roofing Supply by 125.9% during the second quarter. American Century Companies Inc. now owns 2,243,708 shares of the company’s stock worth $119,477,000 after purchasing an additional 1,250,650 shares during the period. Clayton Dubilier & Rice LLC increased its holdings in Beacon Roofing Supply by 4.1% in the second quarter. Clayton Dubilier & Rice LLC now owns 14,333,954 shares of the company’s stock worth $763,283,000 after purchasing an additional 563,611 shares in the last quarter. Macquarie Group Ltd. boosted its holdings in shares of Beacon Roofing Supply by 47,383.7% during the 2nd quarter. Macquarie Group Ltd. now owns 487,183 …….