Beacon Roofing Supply (NASDAQ:BECN – Get Rating) The target price was raised from $85.00 to $86.00 by Deutsche Bank Aktiengesellschaft in a research report published on Friday, reports The Fly. Deutsche Bank Aktiengesellschaft’s price target points to a potential upside of 48.05% from the company’s previous close.
A number of other research analysts also recently commented on BECN. Zelman & Associates downgraded Beacon Roofing Supply from a “hold” rating to a “sell” rating in a research note on Friday, March 10. Robert W. Baird raised his target price on Beacon Roofing Supply shares to $76.00 from $65.00 and rated the company as “neutral” in a research report on Monday, February 27. StockNews.com took over coverage of Beacon Roofing Supply shares in a research report on Thursday, March 16th. They gave the stock a “hold” rating. Finally, Stephens raised his price target for shares of Beacon Roofing Supply from $65.00 to $73.00 and rated the company as “equal weight” in a research report on Monday, February 27. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and two have given a buy rating to the company. According to data from MarketBeat, Beacon Roofing Supply currently has a consensus rating of Hold and a consensus target price of $70.71.
Beacon Roofing Supply Trading down 3.0%
Shares of NASDAQ:BECN fell $1.78 on Friday midday to hit $58.09. The stock had a trading volume of 207,572 shares compared to an average volume of 400,879. Beacon Roofing Supply has a 12-month low of $45.71 and a 12-month high of $68.31. The company has a gearing ratio of 1.01, a quick ratio of 1.08 and a current ratio of 2.03. The company has a market cap of $3.74 billion, a P/E of 10.47 and a beta of 1.57. The company’s 50-day moving average is $59.83 and its 200-day moving average is $57.64.
Beacon Roofing Supply (NASDAQ:BECN – Get Rating) last announced its earnings results on Thursday, February 23rd. The company reported earnings per share (EPS) of $1.22 for the quarter, beating analyst consensus estimates of $1.16 by $0.06. Beacon Roofing Supply had a return on equity of 30.06% and a net margin of 5.44%. The company had revenue of $1.97 billion for the quarter, compared to analyst estimates of $1.98 billion. On average, sell-side analysts are forecasting Beacon Roofing Supply to post 6.2 EPS for the year to date.
Insider Buying and Selling at Beacon Roofing Supply
In addition, major shareholder Cd&R Investment Associates Ix acquired 99,880 shares of Beacon Roofing Supply 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. Upon closing of the transaction, the insider now directly owns 15,171,964 shares of the company, valued at $911,379,877.48. The purchase was disclosed in a document filed with the SEC, available at this hyperlink. Company insiders own 0.95% of the company’s shares.
Hedge funds look into Beacon Roofing Supply
A number of large investors have recently changed their stock holdings. 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 53.5% during the fourth quarter. American Century Companies Inc. now owns 3,645,264 shares of the company’s stock valued at $192,433,000 after purchasing an additional 1,270,771 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. Fiduciary Management Inc. WI increased its stake in Beacon Roofing Supply by 4.2% in the third quarter. Fiduciary Management Inc. WI now owns 1,794,826 shares of the company’s stock valued at $98,213,000 after purchasing an additional 71,900 shares last quarter. Finally, Frontier Capital Management Co. LLC increased its stake in Beacon Roofing Supply by 4.3% during the third quarter. Frontier Capital Management Co. LLC now owns 1,762,903 shares of the Company’s stock valued at $96,466,000 after purchasing an additional 73,190 shares during the period.
Beacon Roofing Supply Company Profile
Beacon Roofing Supply, Inc is engaged in the distribution of roofing materials for residential and non-residential buildings. It also sells ancillary building products, including siding, windows, specialty exterior building products, insulation and waterproofing systems for the exterior of buildings. The company was incorporated on August 22, 1997 and is headquartered in Herndon, VA.
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