Fintel reports that on August 4, 2023, Truist Securities maintained coverage of Beacon Roofing Supply Inc – (NASDAQ:BECN) with a Hold recommendation.
Analyst Price Forecast Suggests 10.98% Upside
As of August 2, 2023, the average one-year price target for Beacon Roofing Supply Inc – is 92.45. The forecasts range from a low of 75.75 to a high of $110.25. The average price target represents an increase of 10.98% from its latest reported closing price of 83.30.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Beacon Roofing Supply Inc – is 8,621MM, an increase of 0.00%. The projected annual non-GAAP EPS is 6.25.
What is the Fund Sentiment?
There are 553 funds or institutions reporting positions in Beacon Roofing Supply Inc -. This is an increase of 19 owner(s) or 3.56% in the last quarter. Average portfolio weight of all funds dedicated to BECN is 0.29%, a decrease of 3.56%. Total shares owned by institutions decreased in the last three months by 0.69% to 74,142K shares. The put/call ratio of BECN is 0.50, indicating a bullish outlook.
What are Other Shareholders Doing?
Clayton, Dubilier & Rice holds 15,095K shares representing 23.68% ownership of the company. In it’s prior filing, the firm reported owning 14,983K shares, representing an increase of 0.74%. The firm decreased its portfolio allocation in BECN by 14.32% over the last quarter.
American Century Companies holds 3,964K shares representing 6.22% ownership of the company. In it’s prior filing, the firm reported owning 3,645K shares, representing an increase of 8.03%. The firm increased its portfolio allocation in BECN by 16.90% over the last quarter.
T. Rowe Price Investment Management holds 3,485K shares representing 5.47% ownership of the company. In it’s prior filing, the firm reported owning 3,491K shares, representing a decrease of 0.18%. The firm increased its portfolio allocation in BECN by 3.97% over the last quarter.
ASVIX – Small Cap Value Fund Investor Class holds 1,905K shares representing 2.99% ownership of the company. In it’s prior filing, the firm reported owning 1,930K shares, representing a decrease of 1.31%. The firm increased its portfolio allocation in BECN by 7.37% over the last quarter.
Frontier Capital Management Co holds 1,722K shares representing 2.70% ownership of the company. In it’s prior filing, the firm reported owning 1,745K shares, representing a decrease of 1.30%. The firm increased its portfolio allocation in BECN by 4.49% over the last quarter.
Beacon Roofing Supply Background Information
(This description is provided by the company.)
Founded in 1928, Beacon is a Fortune 500, publicly traded distributor of roofing materials and complementary building products in North America, operating over 400 branches throughout all 50 states in the U.S. and 6 provinces in Canada. Beacon serves an extensive base of over 90,000 customers, utilizing its vast branch network and diverse service offerings to provide high-quality products and support throughout the entire business lifecycle. Beacon offers its own private label brand, TRI-BUILT, and has a proprietary digital account management suite, Beacon PRO+, which allows customers to manage their businesses online.
Additional reading:
- Beacon Roofing Supply, Inc. 2023 Employee Stock Purchase Plan
- BEACON REPORTS SECOND QUARTER 2023 RESULTS
- AUGUST 3, 2023 2023 Q2 2023 EARNINGS PRESENTATION Exhibit 99.2 becn.com2 Disclosure Notice This presentation contains information about management’s view of the Company’s future expectations, plans and prospects that constitute forward-looking statem
- Indenture, dated as of July 31, 2023, by and among Beacon Roofing Supply, Inc., the subsidiary guarantor party thereto, and U.S. Bank Trust Company, National Association, as trustee and collateral agent.
- BEACON ANNOUNCES CLOSING OF $600 MILLION SENIOR SECURED NOTES OFFERING AND COMPLETES REPURCHASE OF SERIES A PREFERRED STOCK
This story originally appeared on Fintel.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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