Shares of Beacon Roofing Supply, Inc. (NASDAQ:BECN – Get Rating) have been assigned a consensus recommendation of “Hold” from the twelve analysts that are covering the company, Marketbeat reports. Six investment analysts have rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company. The average 1 year target price among brokerages that have updated their coverage on the stock in the last year is $65.22.
Several equities analysts have issued reports on BECN shares. StockNews.com began coverage on Beacon Roofing Supply in a research report on Thursday, March 31st. They issued a “hold” rating for the company. Truist Financial decreased their target price on Beacon Roofing Supply from $58.00 to $55.00 in a report on Monday, February 7th. Zacks Investment Research upgraded Beacon Roofing Supply from a “hold” rating to a “strong-buy” rating and set a $73.00 target price on the stock in a report on Thursday, May 19th. Wells Fargo & Company increased their target price on Beacon Roofing Supply from $59.00 to $67.00 and gave the stock an “equal weight” rating in a report on Thursday, April 21st. Finally, Robert W. Baird increased their target price on Beacon Roofing Supply from $74.00 to $83.00 in a report on Friday, May 6th.
Shares of BECN opened at $61.21 on Friday. The stock has a market cap of $4.21 billion, a price-to-earnings ratio of 17.69 and a beta of 1.77. The company has a quick ratio of 0.92, a current ratio of 1.85 and a debt-to-equity ratio of 1.01. Beacon Roofing Supply has a 12 month low of $46.62 and a 12 month high of $64.90. The company has a 50-day moving average price of $60.10 and a two-hundred day moving average price of $57.48.
Beacon Roofing Supply (NASDAQ:BECN – Get Rating) last announced its quarterly earnings results on Thursday, May 5th. The company reported $0.89 EPS for the quarter, topping analysts’ consensus estimates of $0.49 by $0.40. The firm had revenue of $1.69 billion during the quarter, compared to analysts’ expectations of $1.43 billion. Beacon Roofing Supply had a net margin of 4.24% and a return on equity of 26.21%. Equities research analysts expect that Beacon Roofing Supply will post 6.35 EPS for the current fiscal year.
In related news, major shareholder Cd&R Investment Associates Ix, bought 102,219 shares of the business’s stock in a transaction on Friday, April 29th. The shares were purchased at an average price of $58.70 per share, with a total value of $6,000,255.30. Following the completion of the purchase, the insider now owns 14,755,648 shares of the company’s stock, valued at approximately $866,156,537.60. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Clement Munroe Best III sold 4,000 shares of the stock in a transaction dated Wednesday, March 16th. The shares were sold at an average price of $63.00, for a total value of $252,000.00. The disclosure for this sale can be found here. Corporate insiders own 0.95% of the company’s stock.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Ellevest Inc. raised its position in shares of Beacon Roofing Supply by 1,193.9% during the first quarter. Ellevest Inc. now owns 427 shares of the company’s stock worth $25,000 after purchasing an additional 394 shares during the period. Exchange Traded Concepts LLC acquired a new stake in shares of Beacon Roofing Supply during the fourth quarter worth about $26,000. Advisor Group Holdings Inc. raised its position in shares of Beacon Roofing Supply by 37.5% during the first quarter. Advisor Group Holdings Inc. now owns 1,101 shares of the company’s stock worth $65,000 after purchasing an additional 300 shares during the period. UBS Group AG grew its holdings in shares of Beacon Roofing Supply by 44.5% during the third quarter. UBS Group AG now owns 1,455 shares of the company’s stock worth $69,000 after buying an additional 448 shares in the last quarter. Finally, Gladius Capital Management LP bought a new position in shares of Beacon Roofing Supply during the fourth quarter worth about $92,000.
About Beacon Roofing Supply (Get Rating)
Beacon Roofing Supply, Inc, together with its subsidiaries, distributes residential and non-residential roofing materials, and complementary building products to contractors, home builders, building owners, lumberyards, and retailers. It offers pitched roofing and low slope roof products; gutters and sidings; building materials, such as lumber and composite, skylights and window, plywood and OSB, decking and railing, and HVAC products; and foam board, spray foam, roll, batt, mineral wool, fiberglass, and commercial insulation products, as well as radiant barriers and blown-in insulation and equipment.
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