Shares of Beacon Roofing Supply, Inc. (NASDAQ:BECN – Get Free Report) have been given an average recommendation of “Hold” by the seven ratings firms that are covering the stock, MarketBeat.com reports. One equities research analyst has rated the stock with a sell recommendation, four have assigned a hold recommendation and two have given a buy recommendation to the company. The average 1-year target price among brokers that have updated their coverage on the stock in the last year is $82.33.
A number of equities analysts recently commented on BECN shares. Deutsche Bank Aktiengesellschaft lifted their price target on Beacon Roofing Supply from $85.00 to $86.00 in a report on Friday, May 5th. Stephens cut their price objective on shares of Beacon Roofing Supply from $70.00 to $68.00 in a research report on Monday, May 8th. StockNews.com began coverage on shares of Beacon Roofing Supply in a research report on Thursday, May 18th. They set a “hold” rating for the company. BMO Capital Markets raised their price objective on shares of Beacon Roofing Supply from $75.00 to $90.00 in a research report on Friday, June 16th. Finally, Robert W. Baird raised their price objective on shares of Beacon Roofing Supply from $76.00 to $95.00 in a research report on Monday, July 10th.
Insider Activity
In other news, Director Stuart A. Randle sold 10,299 shares of Beacon Roofing Supply stock in a transaction that occurred on Thursday, June 8th. The shares were sold at an average price of $72.43, for a total value of $745,956.57. Following the completion of the sale, the director now directly owns 31,417 shares in the company, valued at $2,275,533.31. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other news, major shareholder Cd&R Investment Associates Ix, acquired 99,880 shares of the stock in a transaction on Friday, April 28th. The stock was acquired at an average cost of $60.07 per share, for a total transaction of $5,999,791.60. Following the completion of the transaction, the insider now directly owns 15,171,964 shares in the company, valued at $911,379,877.48. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Stuart A. Randle sold 10,299 shares of the business’s stock in a transaction that occurred on Thursday, June 8th. The shares were sold at an average price of $72.43, for a total transaction of $745,956.57. Following the transaction, the director now owns 31,417 shares of the company’s stock, valued at $2,275,533.31. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 21,910 shares of company stock worth $1,558,209. Corporate insiders own 1.30% of the company’s stock.
Institutional Inflows and Outflows
Institutional investors have recently added to or reduced their stakes in the company. Sandy Spring Bank bought a new stake in shares of Beacon Roofing Supply during the first quarter worth $29,000. Mitsubishi UFJ Trust & Banking Corp bought a new stake in shares of Beacon Roofing Supply during the first quarter worth $29,000. Exchange Traded Concepts LLC bought a new stake in shares of Beacon Roofing Supply during the first quarter worth $36,000. Arcadia Investment Management Corp MI bought a new stake in shares of Beacon Roofing Supply during the first quarter worth $38,000. Finally, Ronald Blue Trust Inc. grew its stake in shares of Beacon Roofing Supply by 34.4% in the first quarter. Ronald Blue Trust Inc. now owns 817 shares of the company’s stock worth $43,000 after purchasing an additional 209 shares during the last quarter.
Beacon Roofing Supply Price Performance
Shares of NASDAQ BECN opened at $83.66 on Thursday. Beacon Roofing Supply has a fifty-two week low of $50.42 and a fifty-two week high of $85.85. The company has a debt-to-equity ratio of 1.00, a current ratio of 2.07 and a quick ratio of 1.09. The stock has a market capitalization of $5.33 billion, a price-to-earnings ratio of 16.09 and a beta of 1.64. The business has a 50-day moving average of $76.15 and a 200-day moving average of $64.96.
Beacon Roofing Supply (NASDAQ:BECN – Get Free Report) last posted its quarterly earnings results on Thursday, May 4th. The company reported $0.67 EPS for the quarter, topping analysts’ consensus estimates of $0.61 by $0.06. Beacon Roofing Supply had a return on equity of 27.52% and a net margin of 5.01%. The business had revenue of $1.73 billion during the quarter, compared to analysts’ expectations of $1.78 billion. As a group, sell-side analysts predict that Beacon Roofing Supply will post 6.56 earnings per share for the current fiscal 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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