Beacon Roofing Supply (NASDAQ:BECN – Get Free Report) was downgraded by research analysts at StockNews.com from a “buy” rating to a “hold” rating in a note issued to investors on Friday.
A number of other brokerages have also weighed in on BECN. BMO Capital Markets increased their price objective on Beacon Roofing Supply from $75.00 to $90.00 in a report on Friday, June 16th. TheStreet downgraded shares of Beacon Roofing Supply from a “b” rating to a “c” rating in a report on Friday, May 5th. Robert W. Baird lifted their price objective on shares of Beacon Roofing Supply from $76.00 to $95.00 in a research note on Monday, July 10th. Loop Capital upped their price objective on shares of Beacon Roofing Supply from $76.00 to $84.00 in a report on Friday, June 9th. Finally, Truist Financial raised their target price on shares of Beacon Roofing Supply from $85.00 to $95.00 and gave the stock a “hold” rating in a report on Friday, August 4th. One 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. Based on data from MarketBeat, Beacon Roofing Supply presently has a consensus rating of “Hold” and an average target price of $86.80.
Get Our Latest Report on Beacon Roofing Supply
Beacon Roofing Supply Trading Up 1.2 %
Shares of NASDAQ BECN traded up $0.92 during mid-day trading on Friday, reaching $80.77. The company had a trading volume of 438,380 shares, compared to its average volume of 481,722. The stock has a market cap of $5.10 billion, a price-to-earnings ratio of 15.99, a price-to-earnings-growth ratio of 1.72 and a beta of 1.65. Beacon Roofing Supply has a 52 week low of $50.42 and a 52 week high of $87.46. The business’s 50-day moving average is $82.24 and its 200-day moving average is $69.80. The company has a current ratio of 1.69, a quick ratio of 1.00 and a debt-to-equity ratio of 0.86.
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 (EPS) for the quarter, topping analysts’ consensus estimates of $2.27 by $0.39. Beacon Roofing Supply had a net margin of 4.69% and a return on equity of 25.15%. The business had revenue of $2.50 billion during the quarter, compared to analysts’ expectations of $2.50 billion. Equities analysts expect that Beacon Roofing Supply will post 6.91 earnings per share for the current year.
Insiders Place Their Bets
In related news, Director Stuart A. Randle sold 10,299 shares of Beacon Roofing Supply stock in a transaction dated Thursday, June 8th. The stock was sold at an average price of $72.43, for a total value of $745,956.57. Following the completion of the transaction, the director now owns 31,417 shares in the company, valued at approximately $2,275,533.31. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other Beacon Roofing Supply news, EVP Christopher Carl Nelson sold 8,611 shares of the stock in a transaction on Monday, June 12th. The shares were sold at an average price of $72.95, for a total transaction of $628,172.45. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 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 sale, the director now owns 31,417 shares in the company, valued at approximately $2,275,533.31. The disclosure for this sale can be found here. Insiders own 1.30% of the company’s stock.
Institutional Investors Weigh In On Beacon Roofing Supply
Several institutional investors have recently bought and sold shares of the company. Parkside Financial Bank & Trust acquired a new position in shares of Beacon Roofing Supply during the second quarter valued at approximately $27,000. Mitsubishi UFJ Trust & Banking Corp purchased a new position in Beacon Roofing Supply in the 1st quarter valued at $29,000. Sandy Spring Bank purchased a new position in Beacon Roofing Supply in the 1st quarter valued at $29,000. Exchange Traded Concepts LLC purchased a new stake in shares of Beacon Roofing Supply during the first quarter worth $36,000. Finally, Arcadia Investment Management Corp MI acquired a new stake in shares of Beacon Roofing Supply in the first quarter valued at about $38,000.
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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