Beacon Roofing Supply, Inc. (NASDAQ:BECN – Free Report) – Analysts at Zacks Research boosted their Q3 2023 earnings per share estimates for shares of Beacon Roofing Supply in a research note issued on Thursday, August 17th. Zacks Research analyst S. Mukherjee now anticipates that the company will post earnings of $2.42 per share for the quarter, up from their prior estimate of $2.19. The consensus estimate for Beacon Roofing Supply’s current full-year earnings is $6.82 per share. Zacks Research also issued estimates for Beacon Roofing Supply’s Q4 2023 earnings at $1.36 EPS and Q1 2024 earnings at $0.63 EPS.
Other equities research analysts have also issued research reports about the company. Loop Capital boosted their price objective on Beacon Roofing Supply from $76.00 to $84.00 in a research report on Friday, June 9th. BMO Capital Markets boosted their price objective on Beacon Roofing Supply from $75.00 to $90.00 in a research report on Friday, June 16th. Robert W. Baird boosted their price objective on Beacon Roofing Supply from $76.00 to $95.00 in a research report on Monday, July 10th. Raymond James upped their price target on Beacon Roofing Supply from $75.00 to $95.00 and gave the company an “outperform” rating in a research report on Monday, August 7th. Finally, StockNews.com lowered Beacon Roofing Supply from a “buy” rating to a “hold” rating in a research report on Tuesday. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $86.80.
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Beacon Roofing Supply Trading Down 4.8 %
Shares of BECN stock opened at $77.46 on Friday. The firm has a market capitalization of $4.89 billion, a P/E ratio of 15.34, a P/E/G ratio of 1.81 and a beta of 1.65. Beacon Roofing Supply has a twelve month low of $50.42 and a twelve month high of $87.46. The company has a quick ratio of 1.00, a current ratio of 1.69 and a debt-to-equity ratio of 0.86. The stock’s fifty day simple moving average is $82.23 and its 200 day simple moving average is $68.47.
Institutional Trading of Beacon Roofing Supply
Hedge funds have recently bought and sold shares of the business. Parkside Financial Bank & Trust purchased a new stake in Beacon Roofing Supply in the second quarter worth $27,000. Mitsubishi UFJ Trust & Banking Corp purchased a new stake in Beacon Roofing Supply in the first quarter worth $29,000. Sandy Spring Bank purchased a new stake in Beacon Roofing Supply in the first quarter worth $29,000. Exchange Traded Concepts LLC purchased a new stake in Beacon Roofing Supply in the first quarter worth $36,000. Finally, Arcadia Investment Management Corp MI purchased a new stake in Beacon Roofing Supply in the first quarter worth $38,000.
Insider Buying and Selling
In other news, EVP Christopher Carl Nelson sold 8,611 shares of the firm’s stock in a transaction that occurred on Monday, June 12th. The stock was sold at an average price of $72.95, for a total value of $628,172.45. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In other news, EVP Christopher Carl Nelson sold 8,611 shares of the firm’s stock in a transaction that occurred on Monday, June 12th. The stock was sold at an average price of $72.95, for a total value of $628,172.45. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Stuart A. Randle sold 10,299 shares of the firm’s stock in a transaction that occurred on Thursday, June 8th. The shares were sold at an average price of $72.43, for a total value of $745,956.57. Following the completion of the transaction, the director now owns 31,417 shares in the company, valued at approximately $2,275,533.31. The disclosure for this sale can be found here. 0.95% of the stock is owned by company insiders.
About Beacon Roofing Supply
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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.
Further Reading
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