J.P. Morgan analyst Michael Rehaut maintained a Hold rating on Beacon Roofing Supply (NASDAQ: BECN) today and set a price target of $49. The company’s shares closed yesterday at $38.24, close to its 52-week low of $35.41.
According to TipRanks.com, Rehaut is a 4-star analyst with an average return of 8.1% and a 57.8% success rate. Rehaut covers the Consumer Goods sector, focusing on stocks such as Stanley Black & Decker Inc, Mohawk Industries, and New Home Company.
Currently, the analyst consensus on Beacon Roofing Supply is a Moderate Buy with an average price target of $51.40, representing a 34.4% upside. In a report issued on August 8, Citigroup also downgraded the stock to Hold with a $44 price target.
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Beacon Roofing Supply’s market cap is currently $2.6B and has a P/E ratio of 32.13. The company has a Price to Book ratio of 1.42.
Based on the recent corporate insider activity of 16 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of BECN in relation to earlier this year.
TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.
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.
