Beacon Roofing Supply, Inc. (NASDAQ:BECN – Free Report) – Research analysts at Zacks Research lowered their first quarter 2024 EPS estimates for Beacon Roofing Supply in a research report published on Wednesday, July 19. S. Mukherjee, an analyst at Zacks Research, now forecasts that the company will report earnings per share of $0.64 for the quarter, down from the previous forecast of $0.69. The consensus estimate for Beacon Roofing Supply’s most recent full-year earnings is $6.55 per share.
BECN has been the subject of a number of other reports. Robert W. Baird raised his price target on Beacon Roofing Supply shares from $76.00 to $95.00 in a research report on Monday, July 10. Deutsche Bank Aktiengesellschaft increased its price target on Beacon Roofing Supply to $86.00 from $85.00 in a report on Friday, May 5. StockNews.com began coverage of Beacon Roofing Supply in a report on Thursday, May 18th. They rate the stock as “Hold.” TheStreet downgraded Beacon Roofing Supply from a “b” rating to a “c” rating in a report on Friday, May 5th. Finally, Stephens lowered its price target on Beacon Roofing Supply from $70.00 to $68.00 in a report on Monday, May 8th. One research analyst has assigned a sell rating to the stock, five have given a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Beacon Roofing Supply currently has an average rating of Hold and an average target price of $82.33.
Beacon Roofing Supply Price History
Shares of BECN opened at $84.40 on Friday. The company has a current ratio of 2.07, a short-term ratio of 1.09 and a debt-to-equity ratio of 1.00. The company’s 50-day simple moving average is $75.30 and its 200-day simple moving average is $64.37. Beacon Roofing Supply has a 1 year low of $50.42 and a 1 year high of $85.85. The company has a market cap of $5.38 billion, a price-to-earnings ratio of 16.23 and a beta of 1.64.
Beacon Roofing Supply (NASDAQ:BECN – Get Free Report) last released its earnings results on Thursday, May 4th. The company reported earnings per share of $0.67 for the quarter, beating analyst consensus estimates of $0.61 by $0.06. The company had revenue of $1.73 billion for the quarter, compared to the consensus estimate of $1.78 billion. Beacon Roofing Supply had a net margin of 5.01% and a return on equity of 27.52%.
Institutional investors are evaluating the Beacon Roofing offering
Several major investors have recently changed their positions in the company. Laurel Wealth Advisors Inc. increased its stake in Beacon Roofing Supply by 2.9% during the fourth quarter. Laurel Wealth Advisors Inc. now owns 5,940 shares of the company, valued at $314,000, after purchasing an additional 166 shares last quarter. Amalgamated Bank increased its stake in Beacon Roofing Supply by 2.4% in the fourth quarter. Amalgamated Bank now owns 8,182 shares of the company, valued at $432,000, after purchasing an additional 191 shares last quarter. Ronald Blue Trust Inc. increased its stake in Beacon Roofing Supply by 34.4% in the first quarter. Ronald Blue Trust Inc. now owns 817 shares of the company, valued at $43,000, after acquiring an additional 209 shares last quarter. First Manhattan Co. increased its stake in Beacon Roofing Supply by 4.3% in the first quarter. First Manhattan Co. now owns 5,633 shares of the company’s stock valued at $333,000 after purchasing an additional 233 shares last quarter. Finally, AlphaCrest Capital Management LLC increased its stake in Beacon Roofing Supply by 4.0% during the first quarter. AlphaCrest Capital Management LLC now owns 7,063 shares of the company, valued at $419,000, after purchasing an additional 273 shares last quarter.
Insider buying and selling
In related news, major shareholder Cd&R Investment Associates Ix bought 99,880 shares in a transaction on Friday, April 28. The stock was acquired at an average price of $60.07 per share for a total value of $5,999,791.60. Following the transaction, the insider now owns 15,171,964 shares of the company’s stock valued at approximately $911,379,877.48. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC’s website. In related news, major shareholder Cd&R Investment Associates Ix bought 99,880 shares in a transaction on Friday, April 28. The stock was acquired at an average price of $60.07 per share for a total value of $5,999,791.60. Following the transaction, the insider now owns 15,171,964 shares of the company’s stock valued at approximately $911,379,877.48. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC’s website. In addition, Director Stuart A. Randle sold 10,299 shares in a transaction on Thursday, June 8th. The shares sold at an average price of $72.43 for a total value of $745,956.57. Following the closing of the sale, the Director now directly owns 31,417 shares of the Company, valued at $2,275,533.31. The disclosure for this sale can be found here. Insiders have sold a total of 21,910 shares of the company’s shares worth $1,558,209 over the past ninety days. Company insiders own 1.30% of the company’s stock.
About Beacon Roofing Supply
(Get Free Report)
Beacon Roofing Supply, Inc., together with its subsidiaries, is engaged in the distribution of residential and non-residential roofing materials and ancillary building products to contractors, home builders, builders, lumber yards and retailers throughout the United States and Canada. It offers pitched roof and flat roof products; gutters and siding; building materials such as lumber and composites, skylights and windows, plywood and OSB, decking and railings, and HVAC products; and foam board, spray foam, rolls, batts, mineral wool, fiberglass and commercial insulation products, as well as radiant barriers and blown insulation and appliances.
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