Beacon Roofing Supply (NASDAQ:BECN – Get Rating) had its price target boosted by research analysts at Robert W. Baird from $72.00 to $74.00 in a report issued on Tuesday, The Fly reports. Robert W. Baird’s price target suggests a potential upside of 26.56% from the company’s previous close.
BECN has been the subject of several other reports. StockNews.com initiated coverage on Beacon Roofing Supply in a report on Thursday, March 31st. They set a “hold” rating for the company. JPMorgan Chase & Co. upgraded Beacon Roofing Supply from an “underweight” rating to a “neutral” rating and set a $68.00 price objective for the company in a report on Wednesday, March 30th. Finally, Truist Financial lowered their price target on Beacon Roofing Supply from $58.00 to $55.00 in a research report on Monday, February 7th. Nine investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $61.60.
Shares of BECN stock opened at $58.47 on Tuesday. The company has a current ratio of 1.82, a quick ratio of 1.08 and a debt-to-equity ratio of 0.94. The business’s 50 day moving average is $58.17 and its two-hundred day moving average is $55.48. The company has a market capitalization of $4.12 billion, a P/E ratio of 21.90 and a beta of 1.91. Beacon Roofing Supply has a twelve month low of $46.62 and a twelve month high of $63.64.
Beacon Roofing Supply (NASDAQ:BECN – Get Rating) last announced its quarterly earnings data on Thursday, February 3rd. The company reported $1.28 EPS for the quarter, beating the Zacks’ consensus estimate of $1.19 by $0.09. Beacon Roofing Supply had a return on equity of 23.98% and a net margin of 3.56%. The business had revenue of $1.75 billion during the quarter, compared to the consensus estimate of $1.57 billion. As a group, equities analysts predict that Beacon Roofing Supply will post 5.32 earnings per share for the current fiscal year.
In other news, insider Clement Munroe Best III sold 4,000 shares of the company’s stock in a transaction that occurred on Wednesday, March 16th. The stock was sold at an average price of $63.00, for a total transaction of $252,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder Cd&R Investment Associates Ix, acquired 107,456 shares of Beacon Roofing Supply stock in a transaction that occurred 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 disclosure for this purchase can be found here. Company insiders own 0.95% of the company’s stock.
Several institutional investors have recently added to or reduced their stakes in the company. Exchange Traded Concepts LLC purchased a new stake in Beacon Roofing Supply during the 4th quarter worth about $26,000. UBS Group AG increased its position in Beacon Roofing Supply by 44.5% in the 3rd quarter. UBS Group AG now owns 1,455 shares of the company’s stock valued at $69,000 after acquiring an additional 448 shares during the period. Gladius Capital Management LP purchased a new position in Beacon Roofing Supply in the 4th quarter valued at $92,000. Financial Management Professionals Inc. acquired a new stake in Beacon Roofing Supply in the third quarter valued at about $86,000. Finally, Barrow Hanley Mewhinney & Strauss LLC lifted its holdings in Beacon Roofing Supply by 43.7% in the fourth quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 2,411 shares of the company’s stock valued at $138,000 after acquiring an additional 733 shares during the period.
Beacon Roofing Supply Company Profile (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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