Beacon Roofing Supply (NASDAQ:BECN – Free Report) had its target price increased by Loop Capital from $110.00 to $115.00 in a research report released on Monday morning, Benzinga reports. The brokerage currently has a buy rating on the stock.
A number of other equities analysts also recently issued reports on the stock. TheStreet raised shares of Beacon Roofing Supply from a c rating to a b- rating in a research note on Tuesday, February 27th. Stifel Nicolaus increased their price target on shares of Beacon Roofing Supply from $115.00 to $119.00 and gave the stock a buy rating in a research note on Tuesday, December 19th. Robert W. Baird upgraded shares of Beacon Roofing Supply from a neutral rating to an outperform rating and upped their price objective for the stock from $99.00 to $115.00 in a report on Thursday, February 29th. JPMorgan Chase & Co. cut their price objective on shares of Beacon Roofing Supply from $103.00 to $97.00 and set an overweight rating on the stock in a report on Thursday, January 11th. Finally, StockNews.com upgraded shares of Beacon Roofing Supply from a hold rating to a buy rating in a report on Wednesday, February 28th. Two research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat, Beacon Roofing Supply currently has an average rating of Moderate Buy and an average target price of $97.27.
View Our Latest Stock Report on BECN
Beacon Roofing Supply Stock Performance
Shares of NASDAQ:BECN opened at $100.23 on Monday. The company has a market cap of $6.36 billion, a price-to-earnings ratio of -213.26, a price-to-earnings-growth ratio of 1.72 and a beta of 1.62. The company has a 50-day moving average price of $87.66 and a 200-day moving average price of $82.42. The company has a current ratio of 1.85, a quick ratio of 1.06 and a debt-to-equity ratio of 1.30. Beacon Roofing Supply has a 12 month low of $54.60 and a 12 month high of $100.53.
Beacon Roofing Supply (NASDAQ:BECN – Get Free Report) last released its quarterly earnings results on Tuesday, February 27th. The company reported $1.47 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.69 by ($0.22). Beacon Roofing Supply had a return on equity of 26.95% and a net margin of 4.74%. The company had revenue of $2.30 billion during the quarter, compared to the consensus estimate of $2.27 billion. During the same period in the previous year, the company earned $1.18 earnings per share. Beacon Roofing Supply’s quarterly revenue was up 16.8% on a year-over-year basis. As a group, equities analysts anticipate that Beacon Roofing Supply will post 7.87 EPS for the current year.
Insider Activity
In other news, insider Jason L. Taylor sold 1,805 shares of the stock in a transaction that occurred on Thursday, March 21st. The shares were sold at an average price of $95.00, for a total transaction of $171,475.00. Following the sale, the insider now owns 10,531 shares in the company, valued at $1,000,445. The transaction was disclosed in a filing with the SEC, which is available at this link. In other news, insider Jason L. Taylor sold 1,805 shares of the stock in a transaction that occurred on Thursday, March 21st. The shares were sold at an average price of $95.00, for a total transaction of $171,475.00. Following the sale, the insider now owns 10,531 shares in the company, valued at $1,000,445. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, EVP Christopher Carl Nelson sold 3,268 shares of the stock in a transaction that occurred on Thursday, March 28th. The shares were sold at an average price of $93.87, for a total transaction of $306,767.16. Following the sale, the executive vice president now owns 176 shares in the company, valued at approximately $16,521.12. The disclosure for this sale can be found here. Corporate insiders own 0.95% of the company’s stock.
Institutional Inflows and Outflows
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in BECN. Advisor Group Holdings Inc. lifted its position in Beacon Roofing Supply by 37.5% during the first quarter. Advisor Group Holdings Inc. now owns 1,101 shares of the company’s stock valued at $65,000 after purchasing an additional 300 shares during the period. Raymond James & Associates lifted its position in Beacon Roofing Supply by 11.6% during the first quarter. Raymond James & Associates now owns 13,449 shares of the company’s stock valued at $797,000 after purchasing an additional 1,397 shares during the period. Raymond James Financial Services Advisors Inc. bought a new position in Beacon Roofing Supply during the first quarter valued at approximately $317,000. AlphaCrest Capital Management LLC lifted its position in Beacon Roofing Supply by 4.0% during the first quarter. AlphaCrest Capital Management LLC now owns 7,063 shares of the company’s stock valued at $419,000 after purchasing an additional 273 shares during the period. Finally, Bank of Montreal Can lifted its position in Beacon Roofing Supply by 27.0% during the first quarter. Bank of Montreal Can now owns 10,659 shares of the company’s stock valued at $665,000 after purchasing an additional 2,267 shares during the period. Institutional investors own 98.45% of the company’s stock.
About Beacon Roofing Supply
(Get Free Report)
Beacon Roofing Supply, Inc, together with its subsidiaries, engages in the 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. The company 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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