Beacon Roofing Supply, Inc. (NASDAQ:BECN – Get Free Report) has been given an average recommendation of “Hold” by the eleven analysts that are covering the stock, MarketBeat reports. One analyst has rated the stock with a sell rating, four have assigned a hold rating and six have issued a buy rating on the company. The average 12-month price target among analysts that have issued a report on the stock in the last year is $92.64.
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Several equities analysts have recently weighed in on BECN shares. Truist Financial reduced their price target on Beacon Roofing Supply from $95.00 to $80.00 and set a “hold” rating for the company in a research report on Tuesday, October 17th. StockNews.com raised Beacon Roofing Supply from a “hold” rating to a “buy” rating in a research note on Saturday, January 6th. JPMorgan Chase & Co. dropped their price objective on 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. Jefferies Financial Group dropped their price objective on Beacon Roofing Supply from $92.00 to $89.00 in a research note on Thursday, October 12th. Finally, Royal Bank of Canada raised Beacon Roofing Supply from a “sector perform” rating to an “outperform” rating and lifted their price objective for the company from $91.00 to $94.00 in a research note on Thursday, October 5th.
View Our Latest Stock Analysis on Beacon Roofing Supply
Insiders Place Their Bets
In other news, insider Jason L. Taylor sold 1,806 shares of the business’s stock in a transaction dated Wednesday, December 20th. The stock was sold at an average price of $88.75, for a total value of $160,282.50. Following the completion of the sale, the insider now owns 11,178 shares of the company’s stock, valued at approximately $992,047.50. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Corporate insiders own 1.30% of the company’s stock.
Institutional Investors Weigh In On Beacon Roofing Supply
A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Parkside Financial Bank & Trust grew its holdings in shares of Beacon Roofing Supply by 49.4% during the 3rd quarter. Parkside Financial Bank & Trust now owns 487 shares of the company’s stock worth $38,000 after acquiring an additional 161 shares during the period. Laurel Wealth Advisors Inc. grew its holdings in shares of Beacon Roofing Supply by 2.9% during the 4th quarter. Laurel Wealth Advisors Inc. now owns 5,940 shares of the company’s stock worth $314,000 after acquiring an additional 166 shares during the period. Mitsubishi UFJ Trust & Banking Corp grew its holdings in shares of Beacon Roofing Supply by 2.8% during the 3rd quarter. Mitsubishi UFJ Trust & Banking Corp now owns 6,290 shares of the company’s stock worth $485,000 after acquiring an additional 169 shares during the period. Cambridge Investment Research Advisors Inc. grew its holdings in shares of Beacon Roofing Supply by 5.0% during the 3rd quarter. Cambridge Investment Research Advisors Inc. now owns 4,209 shares of the company’s stock worth $325,000 after acquiring an additional 200 shares during the period. Finally, First Manhattan Co. grew its holdings in shares of Beacon Roofing Supply by 4.3% during the 1st quarter. First Manhattan Co. now owns 5,633 shares of the company’s stock worth $333,000 after acquiring an additional 233 shares during the period.
Beacon Roofing Supply Price Performance
Shares of NASDAQ BECN opened at $84.12 on Thursday. The stock has a market cap of $5.32 billion, a PE ratio of -79.36, a price-to-earnings-growth ratio of 1.46 and a beta of 1.63. Beacon Roofing Supply has a fifty-two week low of $52.52 and a fifty-two week high of $89.39. The company has a debt-to-equity ratio of 1.43, a quick ratio of 1.05 and a current ratio of 1.73. The stock has a fifty day moving average of $83.35 and a 200-day moving average of $80.23.
Beacon Roofing Supply (NASDAQ:BECN – Get Free Report) last announced its quarterly earnings results on Thursday, November 2nd. The company reported $2.85 earnings per share for the quarter, beating the consensus estimate of $2.54 by $0.31. The company had revenue of $2.58 billion during the quarter, compared to analysts’ expectations of $2.59 billion. Beacon Roofing Supply had a return on equity of 25.71% and a net margin of 4.67%. Equities research analysts anticipate that Beacon Roofing Supply will post 7.52 earnings per share for the current year.
Beacon Roofing Supply Company Profile
(Get Free Report
Beacon Roofing Supply, Inc, together with its subsidiaries, engages in 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. 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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