Beacon Roofing Supply (NASDAQ:BECN – Get Free Report) was upgraded by equities research analysts at StockNews.com from a “hold” rating to a “buy” rating in a research report issued on Saturday.
Other research analysts have also issued reports about the stock. Jefferies Financial Group dropped their price objective on shares of Beacon Roofing Supply from $92.00 to $89.00 in a research note on Thursday, October 12th. JPMorgan Chase & Co. upgraded shares of Beacon Roofing Supply from a “neutral” rating to an “overweight” rating and upped their price target for the company from $86.00 to $103.00 in a report on Thursday, December 14th. Royal Bank of Canada raised shares of Beacon Roofing Supply from a “sector perform” rating to an “outperform” rating and raised their price objective for the stock from $91.00 to $94.00 in a research note on Thursday, October 5th. Stifel Nicolaus upped their target price on Beacon Roofing Supply from $115.00 to $119.00 and gave the company a “buy” rating in a research note on Tuesday, December 19th. Finally, Truist Financial decreased their price target on Beacon Roofing Supply from $95.00 to $80.00 and set a “hold” rating for the company in a research note on Tuesday, October 17th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $93.18.
Get Our Latest Research Report on Beacon Roofing Supply
Beacon Roofing Supply Stock Performance
Beacon Roofing Supply stock opened at $86.28 on Friday. The company has a quick ratio of 1.05, a current ratio of 1.73 and a debt-to-equity ratio of 1.43. Beacon Roofing Supply has a twelve month low of $50.42 and a twelve month high of $89.39. The company’s 50-day moving average price is $81.38 and its 200-day moving average price is $80.02. The company has a market cap of $5.46 billion, a PE ratio of -81.40, a price-to-earnings-growth ratio of 1.17 and a beta of 1.63.
Beacon Roofing Supply (NASDAQ:BECN – Get Free Report) last issued its quarterly earnings data on Thursday, November 2nd. The company reported $2.85 earnings per share for the quarter, topping the consensus estimate of $2.54 by $0.31. The company had revenue of $2.58 billion for the quarter, compared to analysts’ expectations of $2.59 billion. Beacon Roofing Supply had a return on equity of 25.71% and a net margin of 4.67%. On average, equities research analysts forecast that Beacon Roofing Supply will post 7.5 EPS for the current fiscal year.
Insider Activity
In other Beacon Roofing Supply news, insider Jason L. Taylor sold 1,806 shares of Beacon Roofing Supply stock in a transaction dated Wednesday, December 20th. The stock was sold at an average price of $88.75, for a total value of $160,282.50. Following the transaction, the insider now owns 11,178 shares in the company, valued at $992,047.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.95% of the company’s stock.
Hedge Funds Weigh In On Beacon Roofing Supply
Institutional investors and hedge funds have recently bought and sold shares of the company. Parkside Financial Bank & Trust acquired a new stake in Beacon Roofing Supply in the second quarter worth about $27,000. Exchange Traded Concepts LLC grew its position in Beacon Roofing Supply by 63.6% during the 3rd quarter. Exchange Traded Concepts LLC now owns 836 shares of the company’s stock worth $65,000 after purchasing an additional 325 shares during the last quarter. Advisor Group Holdings Inc. increased its stake in Beacon Roofing Supply by 37.5% during the 1st 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 in the last quarter. Counterpoint Mutual Funds LLC purchased a new position in shares of Beacon Roofing Supply in the second quarter worth $99,000. Finally, Headlands Technologies LLC purchased a new position in shares of Beacon Roofing Supply in the third quarter worth $98,000.
About Beacon Roofing Supply
(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.
See Also
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat’s editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.
Before you consider Beacon Roofing Supply, you’ll want to hear this.
MarketBeat keeps track of Wall Street’s top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on… and Beacon Roofing Supply wasn’t on the list.
While Beacon Roofing Supply currently has a “Hold” rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Click the link below and we’ll send you MarketBeat’s list of seven stocks and why their long-term outlooks are very promising.
Get This Free Report
www.marketbeat.com
https://www.marketbeat.com/instant-alerts/nasdaq-becn-upgrade-2024-01-06/
