August 21, 2023
Beacon Roofing Supply Receives “Hold” Rating from Analysts
According to a report by Bloomberg, Beacon Roofing Supply, Inc. (NASDAQ:BECN) currently holds an average rating of “Hold” from the nine brokerages that cover the stock. Out of these brokerages, one analyst has assigned a sell rating, five have given a hold rating, and three have provided a buy rating for the company. These ratings serve as an evaluation of Beacon Roofing Supply’s performance and potential in the market.
In addition to the ratings, it is worth noting that there has been recent activity by corporate insiders involving the company’s stock. Executive Vice President Christopher Carl Nelson sold 8,611 shares on June 12th at an average price of $72.95 per share, resulting in a total transaction value of $628,172.45. Similarly, Director Stuart A. Randle sold 10,299 shares on June 8th at an average price of $72.43 per share, amounting to a total transaction value of $745,956.57.
It is important for investors to be aware of such insider transactions as they can influence perceptions of the company’s financial health and future prospects.
Beacon Roofing Supply engages in the distribution of residential and non-residential roofing materials, as well as complementary building products in both the United States and Canada through its subsidiaries. The company serves various stakeholders such as contractors, home builders, building owners, lumberyards, and retailers.
The range of products offered by Beacon Roofing Supply includes pitched roofing and low slope roof products; gutters and sidings; building materials like lumber and composite materials; skylights and windows; plywood and OSB; decking and railing; HVAC products; foam board; spray foam insulations; roll batts; mineral wool; fiberglass insulation products for commercial usage; radiant barriers; blown-in insulation, and related equipment.
The distribution network of Beacon Roofing Supply allows it to cater to the needs of its customers efficiently. By providing an extensive array of roofing materials and complementary building products, the company strives to serve as a reliable partner for contractors, builders, and other stakeholders in their construction projects.
It is noteworthy that corporate insiders currently hold 0.95% of Beacon Roofing Supply’s stock. This information adds another layer to consider when evaluating the company’s performance and investment potential.
As always, investors are encouraged to conduct thorough research and analysis before making any investment decisions. Keeping track of ratings, insider transactions, as well as monitoring industry trends can help investors make informed choices regarding Beacon Roofing Supply’s stock.
In conclusion, Beacon Roofing Supply remains under coverage by nine brokerages with an average rating of “Hold.” The recent insider transactions by company executives highlight the ongoing activities within the organization. Investors should keep these factors in mind while assessing their investment strategies involving Beacon Roofing Supply’s stock.
Beacon Roofing Supply, Inc.
BECN
Strong Buy
Updated on: 21/08/2023
Price Target
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Social Sentiments
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Analyst Ratings
| Analyst / firm | Rating |
|---|---|
|
Keith Hughes Truist Financial |
Buy |
|
Ketan Mamtora Loop Capital Markets |
Buy |
| Deutsche Bank | Buy |
| Stephens | Sell |
| J.P. Morgan | Sell |
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Mixed Opinions and Mixed Performance: Analyzing Beacon Roofing Supply, Inc.
Beacon Roofing Supply, Inc. has recently caught the attention of research analysts, sparking discussions on its shares. Jefferies Financial Group, one of these analysts, raised their price target on Beacon Roofing Supply from $75.00 to $88.00 and gave the company a “hold” rating in a report released on July 13th. BMO Capital Markets, another research firm, also increased their target price on Beacon Roofing Supply shares from $75.00 to $90.00 in a research report published on June 16th.
However, it is important to note that not all analysts share the same optimism regarding Beacon Roofing Supply’s future performance. TheStreet downgraded the company’s shares from a “b” rating to a “c” rating in their report issued on May 5th. StockNews.com also downgraded Beacon Roofing Supply from a “buy” rating to a “hold” rating in their research report released on August 15th. These conflicting opinions leave investors perplexed about the true potential of this roofing supply company.
Beacon Roofing Supply specializes in the distribution of residential and non-residential roofing materials, as well as complementary building products in the United States and Canada. Their client base includes contractors, home builders, building owners, lumberyards, and retailers.
One particular area of focus for Beacon Roofing Supply is providing pitched roofing and low slope roof products. Additionally, they offer gutters and sidings along with various building materials such as lumber and composite products.
The company further enhances its product portfolio through offerings like skylights and windows, plywood and OSB (oriented strand board), decking and railing materials, and HVAC (heating, ventilation, and air conditioning) products.
Moreover, Beacon Roofing Supply deals in insulation products including foam board insulation solutions as well as spray foam insulation for commercial usage. They also provide roll batt insulation made of various materials like mineral wool and fiberglass. Additionally, the company offers radiant barriers and blown-in insulation equipment.
In recent times, several hedge funds and institutional investors have shown interest in Beacon Roofing Supply. Parkside Financial Bank & Trust, for example, acquired a new position in the company’s shares during the second quarter of this year with an investment worth around $27,000.
Another notable addition to Beacon Roofing Supply’s investor portfolio is Sandy Spring Bank, who purchased a new position in the company’s shares during the first quarter worth approximately $29,000. Mitsubishi UFJ Trust & Banking Corp has also recognized the potential of Beacon Roofing Supply and bought a new stake in their shares valued at $29,000.
Furthermore, Exchange Traded Concepts LLC seized an opportunity to invest in Beacon Roofing Supply during the first quarter. Their purchase amounted to a value of $36,000. Arcadia Investment Management Corp MI went a step further and bought a new position in Beacon Roofing Supply during the same period at an estimated value of about $38,000.
At present, Beacon Roofing Supply stock is performing moderately well. On Monday, it opened at $78.60 per share. The company holds a market capitalization of roughly $4.96 billion.
Beacon Roofing Supply maintains a price-to-earnings (P/E) ratio of 15.56 with a P/E to growth (P/E/G) ratio of 1.75—a relatively stable figure indicating steady growth potential according to their earnings performance.
With regards to their financial structure, Beacon Roofing Supply maintains a debt-to-equity ratio of 0.86 along with current and quick ratios of 1.69 and 1.00 respectively.
Despite these favorable statistics presented by the company’s financials, it is crucial to evaluate both short-term and long-term trends before investing one’s capital into this venture.
Since August 21, 2023, Beacon Roofing Supply has demonstrated a mixed performance. With a 1-year low of $50.42 and a 1-year high of $87.46, investors have witnessed significant volatility within this period.
Currently, the company maintains a 50-day moving average price of $82.34 and a 200-day moving average price of $68.79, reflecting some degree of instability in stock prices.
Given the conflicting opinions from research analysts, potential investors are faced with an intricate decision-making process. Conducting thorough research on Beacon Roofing Supply’s competitive landscape and future growth prospects is essential to make informed investment choices.
As always, it is advised to exercise caution and consult with financial professionals before making any investment decisions based on these findings.
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