Beacon Roofing Supply, Inc. (NASDAQ:BECN – Free Report) – Investment analysts at William Blair decreased their Q1 2024 EPS estimates for Beacon Roofing Supply in a report issued on Tuesday, February 27th. William Blair analyst R. Merkel now anticipates that the company will post earnings of $0.36 per share for the quarter, down from their previous forecast of $0.85. William Blair has a “Outperform” rating on the stock. The consensus estimate for Beacon Roofing Supply’s current full-year earnings is $7.90 per share. William Blair also issued estimates for Beacon Roofing Supply’s FY2024 earnings at $8.28 EPS.
Several other research firms have also recently weighed in on BECN. StockNews.com upgraded shares of Beacon Roofing Supply from a “hold” rating to a “buy” rating in a report on Wednesday. TheStreet upgraded shares of Beacon Roofing Supply from a “c” rating to a “b-” rating in a report on Tuesday. Robert W. Baird upgraded shares of Beacon Roofing Supply from a “neutral” rating to an “outperform” rating and boosted their target price for the company from $99.00 to $115.00 in a report on Thursday. JPMorgan Chase & Co. dropped their target price on shares of Beacon Roofing Supply from $103.00 to $97.00 and set an “overweight” rating on the stock in a report on Thursday, January 11th. Finally, Stifel Nicolaus boosted their target price on shares of Beacon Roofing Supply from $115.00 to $119.00 and gave the company a “buy” rating in a report on Tuesday, December 19th. One analyst has rated the stock with a sell rating, two have issued a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $94.45.
Check Out Our Latest Stock Analysis on Beacon Roofing Supply
Beacon Roofing Supply Stock Performance
NASDAQ:BECN opened at $85.89 on Friday. The stock has a market cap of $5.44 billion, a P/E ratio of -182.74, a price-to-earnings-growth ratio of 1.47 and a beta of 1.62. The firm’s fifty day simple moving average is $85.66 and its 200 day simple moving average is $80.58. Beacon Roofing Supply has a twelve month low of $54.60 and a twelve month high of $90.62. The company has a quick ratio of 1.05, a current ratio of 1.73 and a debt-to-equity ratio of 1.43.
Beacon Roofing Supply (NASDAQ:BECN – Get Free Report) last released its quarterly earnings results on Tuesday, February 27th. The company reported $1.47 earnings per share for the quarter, missing the consensus estimate of $1.69 by ($0.22). The company had revenue of $2.30 billion during the quarter, compared to the consensus estimate of $2.27 billion. Beacon Roofing Supply had a net margin of 4.74% and a return on equity of 26.70%. The business’s revenue was up 16.8% on a year-over-year basis. During the same quarter last year, the firm earned $1.18 EPS.
Hedge Funds Weigh In On Beacon Roofing Supply
A number of hedge funds have recently bought and sold shares of the company. Summit Trail Advisors LLC boosted its stake in Beacon Roofing Supply by 1.9% in the 4th quarter. Summit Trail Advisors LLC now owns 6,555 shares of the company’s stock worth $570,000 after purchasing an additional 121 shares in the last quarter. SummerHaven Investment Management LLC boosted its stake in Beacon Roofing Supply by 1.5% in the 4th quarter. SummerHaven Investment Management LLC now owns 8,607 shares of the company’s stock worth $749,000 after purchasing an additional 129 shares in the last quarter. West Tower Group LLC raised its position in Beacon Roofing Supply by 21.1% in the 4th quarter. West Tower Group LLC now owns 802 shares of the company’s stock worth $70,000 after buying an additional 140 shares during the last quarter. Parkside Financial Bank & Trust raised its position in Beacon Roofing Supply by 49.4% in the 3rd quarter. Parkside Financial Bank & Trust now owns 487 shares of the company’s stock worth $38,000 after buying an additional 161 shares during the last quarter. Finally, Laurel Wealth Advisors Inc. raised its position in Beacon Roofing Supply by 2.9% in the 4th quarter. Laurel Wealth Advisors Inc. now owns 5,940 shares of the company’s stock worth $314,000 after buying an additional 166 shares during the last quarter.
Insider Buying and Selling
In related news, insider Jason L. Taylor sold 1,806 shares of the company’s stock in a transaction dated Wednesday, December 20th. The shares were sold at an average price of $88.75, for a total value of $160,282.50. Following the transaction, the insider now owns 11,178 shares in the company, valued at approximately $992,047.50. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.95% of the stock is currently owned by company insiders.
About Beacon Roofing Supply
(Get Free Report)
Beacon Roofing Supply, Inc, together with its subsidiaries, engages in 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. It 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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