Beacon Roofing Supply (NASDAQ:BECN – Get Free Report) was upgraded by equities researchers at StockNews.com from a “hold” rating to a “buy” rating in a note issued to investors on Tuesday.
A number of other brokerages have also recently issued reports on BECN. Robert W. Baird raised shares of Beacon Roofing Supply from a “neutral” rating to an “outperform” rating and lifted their price target for the company from $99.00 to $115.00 in a research report on Thursday, February 29th. JPMorgan Chase & Co. lowered their price target on shares of Beacon Roofing Supply from $103.00 to $97.00 and set an “overweight” rating for the company in a research report on Thursday, January 11th. TheStreet raised shares of Beacon Roofing Supply from a “c” rating to a “b-” rating in a report on Tuesday, February 27th. William Blair raised shares of Beacon Roofing Supply from a “market perform” rating to an “outperform” rating in a report on Monday, January 8th. Finally, Loop Capital lifted their target price on shares of Beacon Roofing Supply from $110.00 to $115.00 and gave the stock a “buy” rating in a report on Monday, April 1st. Two equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $100.00.
View Our Latest Research Report on BECN
Beacon Roofing Supply Price Performance
Shares of Beacon Roofing Supply stock opened at $96.26 on Tuesday. The firm has a market cap of $6.11 billion, a PE ratio of -204.81 and a beta of 1.63. Beacon Roofing Supply has a 12-month low of $56.94 and a 12-month high of $102.83. The company has a quick ratio of 1.06, a current ratio of 1.85 and a debt-to-equity ratio of 1.30. The company’s fifty day simple moving average is $90.79 and its two-hundred day simple moving average is $84.02.
Beacon Roofing Supply (NASDAQ:BECN – Get Free Report) last announced 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). The firm had revenue of $2.30 billion during the quarter, compared to the consensus estimate of $2.27 billion. Beacon Roofing Supply had a return on equity of 26.95% and a net margin of 4.74%. Beacon Roofing Supply’s revenue was up 16.8% on a year-over-year basis. During the same period last year, the business earned $1.18 EPS. As a group, equities analysts expect that Beacon Roofing Supply will post 7.85 EPS for the current year.
Insider Activity
In other news, insider Jason L. Taylor sold 1,805 shares of the stock in a transaction on Thursday, March 21st. The shares were sold at an average price of $95.00, for a total value of $171,475.00. Following the sale, the insider now owns 10,531 shares of the company’s stock, valued at $1,000,445. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, EVP Christopher Carl Nelson sold 3,268 shares of the company’s stock in a transaction dated Thursday, March 28th. The shares were sold at an average price of $93.87, for a total value of $306,767.16. Following the transaction, the executive vice president now directly owns 176 shares in the company, valued at $16,521.12. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Jason L. Taylor sold 1,805 shares of the company’s stock in a transaction dated Thursday, March 21st. The stock was sold at an average price of $95.00, for a total transaction of $171,475.00. Following the completion of the transaction, the insider now owns 10,531 shares in the company, valued at $1,000,445. The disclosure for this sale can be found here. Insiders own 0.95% of the company’s stock.
Institutional Inflows and Outflows
Several hedge funds and other institutional investors have recently added to or reduced their stakes in BECN. Parkside Financial Bank & Trust bought a new position in Beacon Roofing Supply during the 2nd quarter worth about $27,000. PNC Financial Services Group Inc. grew its holdings in Beacon Roofing Supply by 145.0% during the 4th quarter. PNC Financial Services Group Inc. now owns 343 shares of the company’s stock worth $30,000 after acquiring an additional 203 shares in the last quarter. Quarry LP grew its holdings in Beacon Roofing Supply by 127.1% during the 4th quarter. Quarry LP now owns 402 shares of the company’s stock worth $35,000 after acquiring an additional 225 shares in the last quarter. Benjamin F. Edwards & Company Inc. bought a new position in Beacon Roofing Supply during the 4th quarter worth about $36,000. Finally, Exchange Traded Concepts LLC lifted its position in shares of Beacon Roofing Supply by 63.6% during the third quarter. Exchange Traded Concepts LLC now owns 836 shares of the company’s stock valued at $65,000 after buying an additional 325 shares during the last quarter. 98.45% of the stock is currently owned by institutional investors.
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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