Beacon Roofing Supply, Inc. (NASDAQ:BECN – Get Rating) has been assigned an average recommendation of “Hold” by the ten rating firms covering the company, reports Marketbeat.com. One analyst has rated the stock with a sell rating, six with a hold rating and two with a buy rating. The average 1-year target price set by analysts covering the stock over the last year is $70.57.
→ The 1 stock to watch in this market. (By Upexi, Inc.)
A number of equity analysts recently rated BECN stock. Deutsche Bank Aktiengesellschaft increased its price target for shares of Beacon Roofing Supply to $85.00 from $81.00 and gave the stock a buy rating in a research report on Monday, February 27. StockNews.com began reporting on shares of Beacon Roofing Supply on Thursday, March 16th in a research report. They give the company a “hold” rating. Robert W. Baird raised his target price on Beacon Roofing Supply shares to $76.00 from $65.00, giving the stock a “neutral” rating in a research report on Monday, February 27. Stephens increased his price target on Beacon Roofing Supply shares to $73.00 from $65.00 and gave the stock an “equiweight” rating in a research report on Monday, February 27. Finally, Stifel Nicolaus increased his price target on shares of Beacon Roofing Supply from $80.00 to $91.00 and gave the stock a “buy” rating in a research report on Monday, December 19.
Insider buying and selling
In related news, major shareholder Cd&R Investment Associates Ix acquired 107,185 shares of Beacon Roofing Supply in a transaction that took place on Monday January 30th. The shares were purchased at an average price of $55.98 per share for a total value of $6,000,216.30. Following the purchase, the insider now directly owns 15,072,084 shares of the company’s stock valued at approximately $843,735,262.32. The purchase was disclosed in a legal filing with the Securities & Exchange Commission available at this hyperlink. 0.95% of the shares are currently owned by insiders.
Institutional inflows and outflows
A number of institutional investors have recently added to or reduced their stakes in BECN. Fox Run Management LLC acquired a new position in Beacon Roofing Supply stock valued at approximately $283,000 during the third quarter. Point72 Hong Kong Ltd acquired a new position in Beacon Roofing Supply stock valued at approximately $259,000 during the second quarter. Hsbc Holdings PLC increased its position in Beacon Roofing Supply shares by 41.0% during the third quarter. Hsbc Holdings PLC now owns 16,553 shares of the company’s stock valued at $918,000 after purchasing an additional 4,810 shares last quarter. Clayton Dubilier & Rice LLC increased its position in Beacon Roofing Supply by 0.7% during the third quarter. Clayton Dubilier & Rice LLC now owns 14,878,067 shares of the company’s stock valued at $814,128,000 after purchasing an additional 103,931 shares last quarter. Finally, Contravisory Investment Management Inc. increased its position in shares of Beacon Roofing Supply by 13.0% during the fourth quarter. Contravisory Investment Management Inc. now owns 4,384 shares of the company’s stock valued at $231,000 after purchasing an additional 506 shares last quarter.
Beacon Roofing Supply stock performance
NASDAQ BECN shares opened at $56.44 on Friday. The company has a 50-day moving average price of $59.49 and a 200-day moving average price of $56.97. The company has a gearing ratio of 1.01, a current ratio of 2.03 and a quick ratio of 1.08. The stock has a market cap of $3.63 billion, a P/E of 10.15 and a beta of 1.58. Beacon Roofing Supply has a 1 year low of $45.71 and a 1 year high of $68.31.
About Beacon Roofing Supply
(received rating)
Beacon Roofing Supply, Inc is engaged in the distribution of roofing materials for residential and non-residential buildings. It also sells ancillary building products, including siding, windows, specialty exterior building products, insulation and waterproofing systems for the exterior of buildings. The company was incorporated on August 22, 1997 and is headquartered in Herndon, VA.
Featured Stories
This instant news alert was generated by MarketBeat’s narrative science technology and financial data to provide readers with the fastest, most accurate reporting. This story was reviewed by the MarketBeat editorial team prior to publication. Please send questions or comments about this story to contact@marketbeat.com.
Hear this before you consider Beacon Roofing Supply.
MarketBeat tracks Wall Street’s best-in-class, top-performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are softly whispering to their clients to buy now, before the broader market takes hold… and Beacon Roofing Supply wasn’t on the list.
While Beacon Roofing Supply is currently rated a Hold by analysts, top analysts believe these five stocks are better buys.
Check out the five stocks here
www.marketbeat.com
https://www.marketbeat.com/instant-alerts/nasdaq-becn-consensus-analyst-rating-2023-03-24/
