In a report released yesterday, David Manthey from Robert W. Baird reiterated a Buy rating on Beacon Roofing Supply (NASDAQ: BECN), with a price target of $55. The company’s shares closed yesterday at $42.48, close to its 52-week low of $38.71.
According to TipRanks.com, Manthey is a 4-star analyst with an average return of 10.9% and a 68.2% success rate. Manthey covers the Services sector, focusing on stocks such as Foundation Building Materials Inc, Anixter International Inc, and SiteOne Landscape Supply.
Currently, the analyst consensus on Beacon Roofing Supply is a Moderate Buy with an average price target of $54.70, a 28.8% upside from current levels. In a report released yesterday, SunTrust Robinson also reiterated a Buy rating on the stock with a $52 price target.
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The company has a one-year high of $66.48 and a one-year low of $38.71. Currently, Beacon Roofing Supply has an average volume of 1.28M.
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.
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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.