Shares of Beacon Roofing Supply, Inc. (NASDAQ:BECN – Get Free Report) have been given an average rating of “Moderate Buy” by the ten research firms that are presently covering the firm, MarketBeat.com reports. Two investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. The average 12-month target price among brokerages that have updated their coverage on the stock in the last year is $97.27.
Several research analysts have recently issued reports on the company. StockNews.com upgraded Beacon Roofing Supply from a “hold” rating to a “buy” rating in a research report on Wednesday, February 28th. Robert W. Baird upgraded Beacon Roofing Supply from a “neutral” rating to an “outperform” rating and boosted their target price for the stock from $99.00 to $115.00 in a research report on Thursday, February 29th. JPMorgan Chase & Co. lowered their target price on shares of Beacon Roofing Supply from $103.00 to $97.00 and set an “overweight” rating for the company in a research note on Thursday, January 11th. TheStreet upgraded Beacon Roofing Supply from a “c” rating to a “b-” rating in a report on Tuesday, February 27th. Finally, Loop Capital increased their price target on Beacon Roofing Supply from $110.00 to $115.00 and gave the stock a “buy” rating in a report on Monday.
View Our Latest Research Report on Beacon Roofing Supply
Insiders Place Their Bets
In related news, EVP Christopher Carl Nelson sold 3,268 shares of the firm’s stock in a transaction on Thursday, March 28th. The shares were sold at an average price of $93.87, for a total value of $306,767.16. Following the completion of the transaction, the executive vice president now owns 176 shares of the company’s stock, valued at $16,521.12. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Beacon Roofing Supply news, EVP Christopher Carl Nelson sold 3,268 shares of the firm’s stock in a transaction that occurred on Thursday, March 28th. The stock was sold at an average price of $93.87, for a total value of $306,767.16. Following the completion of the transaction, the executive vice president now directly owns 176 shares in the company, valued at $16,521.12. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Jason L. Taylor sold 1,805 shares of the company’s stock in a transaction that occurred on Thursday, March 21st. The stock was sold at an average price of $95.00, for a total value of $171,475.00. Following the sale, the insider now owns 10,531 shares in the company, valued at approximately $1,000,445. The disclosure for this sale can be found here. Insiders own 0.95% of the company’s stock.
Institutional Inflows and Outflows
A number of hedge funds and other institutional investors have recently modified their holdings of BECN. Quadrature Capital Ltd raised its holdings in shares of Beacon Roofing Supply by 20.1% in the 4th quarter. Quadrature Capital Ltd now owns 52,012 shares of the company’s stock valued at $4,526,000 after purchasing an additional 8,697 shares during the period. PNC Financial Services Group Inc. grew its holdings in Beacon Roofing Supply by 145.0% during the fourth quarter. PNC Financial Services Group Inc. now owns 343 shares of the company’s stock worth $30,000 after purchasing an additional 203 shares during the period. Healthcare of Ontario Pension Plan Trust Fund increased its position in Beacon Roofing Supply by 49.2% during the fourth quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 70,103 shares of the company’s stock worth $6,100,000 after buying an additional 23,103 shares during the last quarter. Vanguard Group Inc. raised its stake in Beacon Roofing Supply by 9.6% in the fourth quarter. Vanguard Group Inc. now owns 6,165,267 shares of the company’s stock valued at $536,502,000 after buying an additional 539,785 shares during the period. Finally, Goldman Sachs Group Inc. lifted its position in shares of Beacon Roofing Supply by 11.6% in the fourth quarter. Goldman Sachs Group Inc. now owns 602,287 shares of the company’s stock valued at $52,411,000 after buying an additional 62,690 shares during the last quarter. Institutional investors own 98.45% of the company’s stock.
Beacon Roofing Supply Stock Performance
Shares of NASDAQ:BECN opened at $100.23 on Tuesday. The company has a debt-to-equity ratio of 1.30, a current ratio of 1.85 and a quick ratio of 1.06. The business’s fifty day moving average price is $87.66 and its two-hundred day moving average price is $82.42. Beacon Roofing Supply has a fifty-two week low of $54.60 and a fifty-two week high of $100.53. The stock has a market capitalization of $6.36 billion, a price-to-earnings ratio of -213.26, a price-to-earnings-growth ratio of 1.72 and a beta of 1.62.
Beacon Roofing Supply (NASDAQ:BECN – Get Free Report) last announced its earnings results on Tuesday, February 27th. The company reported $1.47 EPS for the quarter, missing the consensus estimate of $1.69 by ($0.22). The business had revenue of $2.30 billion during the quarter, compared to analyst estimates of $2.27 billion. Beacon Roofing Supply had a return on equity of 26.95% and a net margin of 4.74%. The firm’s revenue was up 16.8% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.18 earnings per share. As a group, analysts predict that Beacon Roofing Supply will post 7.87 EPS for the current fiscal year.
Beacon Roofing Supply Company Profile
(Get Free Report
Beacon Roofing Supply, Inc, together with its subsidiaries, engages in the distribution of residential and non-residential roofing materials, and complementary building products to contractors, home builders, building owners, lumberyards, and retailers in the United States and Canada. The company 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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