Beacon Roofing Supply, Inc. (NASDAQ:BECN – Free Report) shares have received an average rating of Hold from the seven rating firms covering the stock, reports Marketbeat.com. One investment analyst has rated the stock with a sell rating, four with a hold rating and two with a buy rating for the company. The average 12-month target price among brokers that have published reports on the stock over the last year is $76.00.
A number of brokerage firms have published reports on BECN. BMO Capital Markets raised its price target on Beacon Roofing Supply shares to $90.00 from $75.00 on Friday, June 16 in a research note. StockNews.com began reporting on shares of Beacon Roofing Supply on Thursday, May 18, in a research note. They assigned a “hold” rating to the company. Deutsche Bank Aktiengesellschaft raised its price target on Beacon Roofing Supply shares to $86.00 from $85.00 on Friday, May 5 in a research release. Zelman & Associates downgraded shares of Beacon Roofing Supply from a “hold” rating to a “sell” rating in a report on Friday, March 10. Finally, Stephens lowered its price target on Beacon Roofing Supply shares from $70.00 to $68.00 in a report on Monday, May 8th.
Insider buying and selling
In addition, major shareholder Cd&R Investment Associates Ix bought 99,880 shares of the company’s stock in a transaction on Friday, April 28. The shares were purchased at an average price of $60.07 per share for a total transaction of $5,999,791.60. Following the acquisition, the insider now directly owns 15,171,964 shares of the company’s stock valued at approximately $911,379,877.48. The purchase was disclosed in a filing with the SEC available at this hyperlink. In addition, insider Clement Munroe Best III sold 1,500 shares of the company’s stock in a transaction on Friday, May 12. The shares were sold at an average price of $61.00 for a total transaction of $91,500.00. Following the transaction, the insider now owns 58,183 shares of the company’s stock valued at approximately $3,549,163. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC’s website. In addition, major shareholder Cd&R Investment Associates Ix acquired 99,880 shares of the company in a transaction on Friday, April 28. The shares were purchased at an average price of $60.07 per share for a total transaction of $5,999,791.60. Following the acquisition, the insider now owns 15,171,964 shares of the company’s stock valued at approximately $911,379,877.48. The disclosure for this purchase can be found here. Insiders sold 21,910 shares of the company’s shares last quarter, valued at $1,558,209. 0.95% of the shares are currently owned by company insiders.
Institutional inflows and outflows
Several institutional investors and hedge funds recently changed their positions in the stock. Clayton Dubilier & Rice LLC increased its position in Beacon Roofing Supply by 0.7% during the first quarter. Clayton Dubilier & Rice LLC now owns 15,094,980 shares of the company’s stock valued at $888,340,000 after purchasing an additional 111,593 shares last quarter. American Century Companies Inc. increased its position in Beacon Roofing Supply stock by 8.7% during the first quarter. American Century Companies Inc. now owns 3,963,646 shares of the company’s stock valued at $233,261,000 after purchasing an additional 318,382 shares last quarter. Price T Rowe Associates Inc. MD increased its position in Beacon Roofing Supply by 4.0% during the second quarter. Price T Rowe Associates Inc. MD now owns 2,806,283 shares of the company’s stock valued at $144,131,000 after purchasing an additional 106,890 shares last quarter. Fuller & Thaler Asset Management Inc. increased its position in Beacon Roofing Supply by 7.8% during the fourth quarter. Fuller & Thaler Asset Management Inc. now owns 1,704,390 shares of the company’s stock valued at $89,975,000 after purchasing an additional 123,383 shares last quarter. Finally, Morgan Stanley increased its position in shares of Beacon Roofing Supply by 467.9% during the fourth quarter. Morgan Stanley now owns 1,313,406 shares of the company’s stock valued at $69,335,000 after purchasing an additional 1,082,141 shares last quarter.
Beacon Roofing Supply Trading down 0.4%
Beacon Roofing Supply stock opened at $82.98 on Friday. The company has a 50-day moving average price of $68.51 and a 200-day moving average price of $61.56. Beacon Roofing Supply has a 52-week low of $50.42 and a 52-week high of $84.10. The company has a debt to equity ratio of 1.00, a short term ratio of 1.09 and a current ratio of 2.07. The company has a market cap of $5.29 billion, a price-to-earnings ratio of 15.96 and a beta of 1.58.
Beacon Roofing Supply (NASDAQ:BECN – Free Report) last released its earnings results on Thursday, May 4th. The company reported earnings per share (EPS) of $0.67 for the quarter, beating analyst consensus estimates of $0.61 by $0.06. The company had revenue of $1.73 billion in the quarter, compared to analyst estimates of $1.78 billion. Beacon Roofing Supply had a net margin of 5.01% and a return on equity of 27.52%. Research analysts are forecasting that Beacon Roofing Supply will post earnings per share of 6.43 for the year to date.
About Beacon Roofing Supply
(Free report
Beacon Roofing Supply, Inc., together with its subsidiaries, is engaged in the distribution of residential and non-residential roofing materials and ancillary building products to contractors, home builders, builders, lumber yards and retailers throughout the United States and Canada. It offers pitched roof and flat roof products; gutters and siding; building materials such as lumber and composites, skylights and windows, plywood and OSB, decking and railings, and HVAC products; and foam board, spray foam, rolls, batts, mineral wool, fiberglass and commercial insulation products, as well as radiant barriers and blown insulation and appliances.
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