Beacon Roofing Supply, Inc. (NASDAQ:BECN – Free Report) – William Blair raised their FY2024 EPS estimates for Beacon Roofing Supply in a report issued on Friday, September 1st. William Blair analyst R. Merkel now anticipates that the company will post earnings per share of $7.85 for the year, up from their prior forecast of $7.57. The consensus estimate for Beacon Roofing Supply’s current full-year earnings is $6.91 per share.
Beacon Roofing Supply (NASDAQ:BECN – Get Free Report) last posted its quarterly earnings results on Thursday, August 3rd. The company reported $2.66 earnings per share for the quarter, topping analysts’ consensus estimates of $2.27 by $0.39. The company had revenue of $2.50 billion for the quarter, compared to the consensus estimate of $2.50 billion. Beacon Roofing Supply had a net margin of 4.69% and a return on equity of 25.15%.
A number of other brokerages also recently commented on BECN. Truist Financial raised their target price on shares of Beacon Roofing Supply from $85.00 to $95.00 and gave the company a “hold” rating in a research note on Friday, August 4th. Raymond James raised their target price on shares of Beacon Roofing Supply from $75.00 to $95.00 and gave the company an “outperform” rating in a research note on Monday, August 7th. StockNews.com downgraded shares of Beacon Roofing Supply from a “buy” rating to a “hold” rating in a research note on Friday. Robert W. Baird raised their price objective on shares of Beacon Roofing Supply from $76.00 to $95.00 in a report on Monday, July 10th. Finally, Jefferies Financial Group raised their price objective on shares of Beacon Roofing Supply from $75.00 to $88.00 and gave the stock a “hold” rating in a report on Thursday, July 13th. One research analyst has rated the stock with a sell rating, six have given a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $86.80.
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Beacon Roofing Supply Stock Performance
Shares of BECN stock opened at $80.77 on Monday. The company’s fifty day simple moving average is $82.26 and its 200-day simple moving average is $70.05. Beacon Roofing Supply has a 52 week low of $50.42 and a 52 week high of $87.46. The company has a current ratio of 1.69, a quick ratio of 1.00 and a debt-to-equity ratio of 0.86. The company has a market cap of $5.10 billion, a PE ratio of 15.99, a P/E/G ratio of 1.72 and a beta of 1.68.
Institutional Trading of Beacon Roofing Supply
Hedge funds have recently bought and sold shares of the company. Parkside Financial Bank & Trust bought a new stake in Beacon Roofing Supply in the 2nd quarter valued at about $27,000. Sandy Spring Bank bought a new stake in Beacon Roofing Supply in the 1st quarter valued at about $29,000. Mitsubishi UFJ Trust & Banking Corp bought a new stake in Beacon Roofing Supply in the 1st quarter valued at about $29,000. Exchange Traded Concepts LLC bought a new stake in Beacon Roofing Supply in the 1st quarter valued at about $36,000. Finally, Arcadia Investment Management Corp MI bought a new stake in Beacon Roofing Supply in the 1st quarter valued at about $38,000.
Insider Activity
In other news, EVP Christopher Carl Nelson sold 8,611 shares of Beacon Roofing Supply stock in a transaction dated Monday, June 12th. The shares were sold at an average price of $72.95, for a total value of $628,172.45. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, EVP Christopher Carl Nelson sold 8,611 shares of Beacon Roofing Supply stock in a transaction dated Monday, June 12th. The shares were sold at an average price of $72.95, for a total value of $628,172.45. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Stuart A. Randle sold 10,299 shares of Beacon Roofing Supply stock in a transaction dated Thursday, June 8th. The shares were sold at an average price of $72.43, for a total transaction of $745,956.57. Following the completion of the transaction, the director now directly owns 31,417 shares of the company’s stock, valued at $2,275,533.31. The disclosure for this sale can be found here. Company insiders own 0.95% of the company’s stock.
Beacon Roofing Supply Company Profile
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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.
Further Reading
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