Beacon Roofing Supply, Inc. (NASDAQ: BECN) – Research analysts at Truist Securiti increased their earnings per share estimates for Beacon Roofing Supply’s fiscal year 2021 in a report released on Tuesday, October 12. Truist Securiti analyst K. Hughes now expects the company to achieve earnings per share of $ 4.53 for the year, up from its previous forecast of $ 4.43. Truist Securiti also announced estimates for Beacon Roofing Supply’s fourth quarter 2021 earnings of $ 1.59 EPS. Beacon Roofing Supply (NASDAQ: BECN) last released its quarterly results on Thursday, August 5th. The company reported earnings per share (EPS) for the quarter of $ 1.59, beating the consensus estimate of $ 1.31 by $ 0.28. The company had revenue of $ 1.87 billion for the quarter, compared to analyst estimates of $ 1.83 billion. Beacon Roofing Supply had a negative net margin of 1.16% and a positive return on equity of 20.79%.
Other stock analysts have also released reports on the stock recently. Robert W. Baird, in a research release on Thursday, July 15, confirmed an “outperform” rating and set a price target of USD 66.00 (up from USD 65.00) for the shares of Beacon Roofing Supply. Zacks Investment Research downgraded Beacon Roofing Supply from a “buy” rating to a “hold” rating and set a price target of $ 55.00 for the company. in a research note on Wednesday August 11th. Stephens raised his target price on Beacon Roofing Supply stock from $ 56.00 to $ 67.00 and rated the stock on Monday the 23rd. Berenberg Bank upgraded Beacon Roofing Supply on Thursday the 12th. Finally, Wells started Fargo & Company in a research announcement made Thursday July 15, reporting on the shares of Beacon Roofing Supply. They issued an “equilibrium” rating and a target price of $ 58.00 for the company. Eight research analysts for stocks have given the stock a hold rating and five have given it a buy rating. Based on data from MarketBeat, the company has an average “Hold” rating and a consensus price target of $ 60.15.
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NASDAQ: BECN shares opened at $ 48.60 on Wednesday. The company has a market capitalization of $ 3.40 billion, a price / earnings ratio of -28.26, and a beta of 2.01. The company has a 50-day moving average price of $ 50.63 and a 200-day moving average price of $ 53.47. The company has a current metric of 1.65, a quick ratio of 0.93 and debt of 0.99. Beacon Roofing Supply has a 12-month low of $ 30.49 and a 12-month high of $ 60.93.
In related news, major shareholder Cd&R Investment Associates Ix bought 108,056 shares of the company in a transaction that occurred on Friday, July 30th. The shares were purchased at an average price of $ 55.53 per share for a total transaction of $ 6,000,349.68. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In addition, CEO Julian Francis bought 5,000 shares in the company in a transaction that took place on Tuesday, August 17th. The stock was purchased at an average price of $ 48.90 per share for a total transaction of $ 244,500. The disclosure for this purchase can be found here. Company insiders own 1.00% of the company’s stock.
A number of hedge funds have recently changed their holdings on BECN. Advisory Services Network LLC acquired a new stake in Beacon Roofing Supply valued at approximately $ 25,000 in the second quarter. PNC Financial Services Group Inc. increased its position in Beacon Roofing Supply by 287.5% in the first quarter. PNC Financial Services Group Inc. now owns 775 shares in the company valued at $ 41,000 after acquiring an additional 575 shares during the period. Advisor Group Holdings Inc. increased its position in Beacon Roofing Supply by 47.7% in the second quarter. Advisor Group Holdings Inc. now owns 1,645 shares in the company valued at $ 87,000 after purchasing an additional 531 shares during the period. Barrow Hanley Mewhinney & Strauss LLC increased its position in Beacon Roofing Supply by 18.1% in the second quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 1,678 shares in the company valued at $ 89,000 after acquiring an additional 257 shares during the period. Finally, Convergence Investment Partners LLC increased its position in Beacon Roofing Supply by 15.6% in the second quarter. Convergence Investment Partners LLC now owns 3,498 shares of the company valued at $ 186,000 after purchasing an additional 472 shares during the period.
Beacon Roofing Supply Company Profile
Beacon Roofing Supply, Inc. is a distributor of roofing materials for residential and non-residential buildings. It also sells ancillary construction products including siding, windows, specialty outdoor products, insulation and sealing systems for building exteriors. The company was founded on August 22, 1997 and is headquartered in Herndon, VA.
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