Wall Street analysts expect Beacon Roofing Supply, Inc. (NASDAQ:BECN) to report $1.50 billion in sales for the current quarter, Zacks Investment Research reports. Seven analysts have made estimates for Beacon Roofing Supply’s earnings, with the lowest sales estimate coming in at $1.38 billion and the highest estimate coming in at $1.93 billion. Beacon Roofing Supply posted sales of $1.32 billion in the same quarter last year, which would indicate a positive year-over-year growth rate of 13.6%. The company is scheduled to announce its next quarterly earnings report on Thursday, May 5th.
According to Zacks, analysts expect that Beacon Roofing Supply will report full-year sales of $0.00 for the current year. For the next financial year, analysts anticipate that the company will post sales of $0.00. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research firms that cover Beacon Roofing Supply.
A number of equities research analysts have commented on the stock. Robert W. Baird increased their price objective on shares of Beacon Roofing Supply from $69.00 to $72.00 in a research report on Friday, February 4th. Stephens increased their target price on shares of Beacon Roofing Supply from $56.00 to $62.00 and gave the company an “equal weight” rating in a research report on Wednesday, November 24th. Raymond James raised shares of Beacon Roofing Supply from a “market perform” rating to an “outperform” rating and set a $62.00 price target for the company in a research report on Monday, December 6th. Finally, Truist Financial dropped their price objective on Beacon Roofing Supply from $58.00 to $55.00 in a report on Monday, February 7th. Seven analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $60.70.
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NASDAQ BECN opened at $56.45 on Tuesday. The company has a debt-to-equity ratio of 0.94, a quick ratio of 1.08 and a current ratio of 1.82. Beacon Roofing Supply has a one year low of $45.27 and a one year high of $60.93. The firm has a market cap of $3.98 billion, a price-to-earnings ratio of 21.14 and a beta of 1.97. The firm has a 50-day simple moving average of $55.22 and a 200-day simple moving average of $53.43.
In related news, major shareholder Cd&R Investment Associates Ix, acquired 107,456 shares of Beacon Roofing Supply stock in a transaction on Friday, January 28th. The stock was purchased at an average cost of $55.84 per share, with a total value of $6,000,343.04. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders own 0.95% of the company’s stock.
Institutional investors have recently modified their holdings of the company. Wells Fargo & Company MN boosted its holdings in Beacon Roofing Supply by 7.4% in the 4th quarter. Wells Fargo & Company MN now owns 134,847 shares of the company’s stock valued at $7,733,000 after purchasing an additional 9,279 shares in the last quarter. Comerica Bank raised its position in Beacon Roofing Supply by 1.3% in the fourth quarter. Comerica Bank now owns 78,708 shares of the company’s stock worth $4,354,000 after acquiring an additional 1,028 shares in the last quarter. Deutsche Bank AG lifted its holdings in Beacon Roofing Supply by 2.9% in the fourth quarter. Deutsche Bank AG now owns 43,267 shares of the company’s stock valued at $2,482,000 after acquiring an additional 1,220 shares during the period. California State Teachers Retirement System boosted its position in shares of Beacon Roofing Supply by 2.6% during the 4th quarter. California State Teachers Retirement System now owns 77,669 shares of the company’s stock worth $4,454,000 after purchasing an additional 1,948 shares in the last quarter. Finally, Hudson Portfolio Management LLC grew its stake in shares of Beacon Roofing Supply by 9.2% during the 4th quarter. Hudson Portfolio Management LLC now owns 6,650 shares of the company’s stock worth $381,000 after purchasing an additional 560 shares during the period.
Beacon Roofing Supply Company Profile
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.
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