Beacon Roofing Supply, Inc. (NASDAQ:BECN) has received a mixed response from the investment community with an average rating of “Hold” according to Bloomberg.com. This rating is based on the views of seven rating agencies that have closely analyzed and covered the stock. One investment analyst has a sell recommendation, four analysts have a hold recommendation and two experts have a buy recommendation on Beacon Roofing Supply.
The consensus among these rating firms provides valuable insight into the market sentiment surrounding the company’s stock. Investors often rely on such ratings to help them decide whether to buy or sell stocks.
Additionally, these experts have also provided a 12 month average price target for Beacon Roofing Supply which currently stands at $76.00. This price target, set by brokers who have recently provided reports on the stock, serves as a benchmark for investors looking to gauge the potential returns they can expect in the year ahead.
Beacon Roofing Supply operates in the distribution sector and is particularly engaged in roofing materials for residential and non-residential buildings and ancillary building products. The Company serves a variety of stakeholders including contractors, home builders, building owners, lumberjacks and retailers throughout the United States and Canada.
In terms of its product offering, Beacon Roofing Supply covers a wide range of items. These include products for pitched and low pitched roofs; gutters and siding; building materials such as lumber and composites; skylights and windows; plywood and OSB; decking and railings; HVAC products; foam board products; spray foam insulation; roll-on insulation options such as fleece insulation or mineral wool insulation; fiberglass insulation for various applications; commercial insulation options such as radiant barriers or blown insulation; as well as relevant equipment required for installation purposes.
The company’s solid market position has attracted attention from both institutional investors and hedge funds. Recent changes in the positions held by these companies are suggestive of bullish sentiment towards Beacon Roofing Supply. For example, Clayton Dubilier & Rice LLC increased its stake in the company by 0.7% during the first quarter and purchased an additional 111,593 shares. This step underscores the confidence of well-known players in the financial industry and reaffirms their belief in the company’s growth potential.
Another major institutional investor, American Century Companies Inc., increased its position in Beacon Roofing Supply by 8.7% in the first quarter. American Century Companies Inc.’s purchase of an additional 318,382 shares demonstrates its confidence in the company’s future prospects.
Price T Rowe Associates Inc. MD also made a notable move during the second quarter, increasing its stake by 4.0%. Price T Rowe Associates Inc. MD reaffirms the investment appeal of Beacon Roofing Supply by purchasing an additional 106,890 shares.
Fuller & Thaler Asset Management Inc., on the other hand, increased its position by 7.8% in the fourth quarter. The addition of 123,383 shares shows their confidence in Beacon Roofing Supply as a long-term investment option.
Finally, Morgan Stanley significantly increased its position in the fourth quarter with a whopping 467.9% gain. The acquisition of an additional 1,082,141 shares demonstrates the Company’s confidence in Beacon Roofing Supply and its ability to generate significant returns for shareholders.
In summary, while rating agencies have varied opinions on Beacon Roofing Supply’s stock rating – ranging from recommends sell to recommends buy – it is important for investors to carefully consider all perspectives before making decisions. Additionally, institutional investors and hedge funds have shown keen interest in this roofing materials distributor through recent adjustments to their positions. This surge in interest suggests that Beacon Roofing Supply has growth and profitability potential in its segment of the industry.
However, as always, when interpreting such investment news information, remember that you are dealing with previously verified information and always provide additional advice in all investment steps.
Beacon Roofing Supply, Inc.
BECN
Strong buy
Updated on: 03/07/2023
price target
Current
Agreed
Low
median
High
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social feelings
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Analyst Ratings
| Analyst / Company | Evaluation |
|---|---|
|
Sticky Mamtora |
Obtain |
| Deutsche Bank | Sell |
| Stephens | Sell |
| JP Morgan | Sell |
| Wells Fargo | Sell |
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Brokerage Firms Issue Reports on Beacon Roofing Supply Stock: Positive Recognition and Strong Growth Potential
Beacon Roofing Supply, Inc is a leading distributor of residential and non-residential roofing materials and other building products in the United States and Canada. Beacon Roofing Supply’s strong presence in the market has attracted the attention of several brokerage firms, prompting them to issue reports on the company’s stock.
BMO Capital Markets recently raised its target price on Beacon Roofing Supply shares from $75.00 to $90.00. This upgrade reflects their confidence in the company’s growth potential. Deutsche Bank Aktiengesellschaft also raised its price target to $86.00 from $85.00. These positive reviews show that Beacon Roofing Supply is doing well in the market.
In addition, StockNews.com has begun coverage of Beacon Roofing Supply stock with a rating of “Hold” for the company. While this review appears more guarded than other reviews, it still shows an acknowledgment of Beacon Roofing Supply’s presence in the industry.
However, not all reports have been positive for Beacon Roofing Supply. Zelman & Associates downgraded the company’s rating from hold to sell. Despite this downgrade, it is important to note that there are often differing perspectives in the financial world.
Additionally, in his report, Stephens lowered his target price on Beacon Roofing Supply shares to $68.00 from $70.00. Again, this disagreement highlights the different valuations that can occur in financial analysis.
Regarding insider trading activity, major shareholder Cd&R Investment Associates Ix acquired 99,880 shares of Beacon Roofing Supply at an average price of $60.07 per share in late April. This transaction shows insiders’ confidence in the company’s future prospects.
Additionally, insider Clement Munroe Best III sold 1,500 shares at an average price of $61.00 per share in May before remaining at 58,183 shares post-transaction. These activities show a continued interest and commitment of individuals within the company to the company.
Beacon Roofing Supply stock opened at $82.98 and had a strong performance with a 52-week low of $50.42 and a 52-week high of $84.10. The company has a solid debt to equity ratio of 1.00, signaling a balanced financial position.
In terms of financial performance, Beacon Roofing Supply reported earnings per share (EPS) of $0.67 for the most recent quarter, beating analyst estimates by $0.06 per share. Additionally, the company reported revenue of $1.73 billion during the same period, which was slightly below analysts’ forecasts.
With a net margin of 5.01% and a return on equity of 27.52%, Beacon Roofing Supply demonstrates profitability and efficiency in its operations.
Analysts think Beacon Roofing Supply will continue to thrive and are expecting earnings per share of 6.43 for the current year.
In summary, despite some conflicting opinions in the financial market, Beacon Roofing Supply has received positive recognition from brokers for its strong performance and growth potential. With positive reviews and insider trust, this roofing material retailer seems poised for continued success in the industry.
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