Beacon Roofing Supply, Inc. (NASDAQ:BECN – Get Rating) – Investment analysts at KeyCorp issued their Q4 2023 EPS estimates for Beacon Roofing Supply in a research report issued to clients and investors on Monday, November 7th. KeyCorp analyst K. Zener forecasts that the company will earn $0.71 per share for the quarter. The consensus estimate for Beacon Roofing Supply’s current full-year earnings is $7.02 per share.
A number of other equities analysts have also weighed in on BECN. Deutsche Bank Aktiengesellschaft cut their price objective on shares of Beacon Roofing Supply from $90.00 to $79.00 and set a “buy” rating for the company in a research report on Thursday, October 20th. William Blair lowered shares of Beacon Roofing Supply from an “outperform” rating to a “market perform” rating in a research report on Tuesday, July 19th. Robert W. Baird lowered shares of Beacon Roofing Supply from an “outperform” rating to a “neutral” rating and cut their price objective for the company from $77.00 to $65.00 in a research report on Friday, October 14th. StockNews.com assumed coverage on shares of Beacon Roofing Supply in a research report on Wednesday, October 12th. They issued a “hold” rating for the company. Finally, JPMorgan Chase & Co. cut their price objective on shares of Beacon Roofing Supply from $66.00 to $59.00 in a research report on Friday, July 15th. Eight research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $61.75.
Beacon Roofing Supply Stock Down 1.5 %
Shares of NASDAQ BECN opened at $54.80 on Thursday. Beacon Roofing Supply has a 12-month low of $45.71 and a 12-month high of $65.30. The company has a market capitalization of $3.57 billion, a PE ratio of 10.07 and a beta of 1.63. The company has a debt-to-equity ratio of 1.01, a current ratio of 1.92 and a quick ratio of 1.02. The firm’s 50-day moving average is $55.10 and its two-hundred day moving average is $57.15.
Insider Buying and Selling
In related news, insider Jason L. Taylor sold 4,000 shares of the company’s stock in a transaction that occurred on Monday, September 12th. The shares were sold at an average price of $57.30, for a total transaction of $229,200.00. Following the completion of the transaction, the insider now owns 5,937 shares of the company’s stock, valued at $340,190.10. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other Beacon Roofing Supply news, major shareholder Cd&R Investment Associates Ix, acquired 105,320 shares of the firm’s stock in a transaction on Friday, October 28th. The stock was bought at an average cost of $56.97 per share, for a total transaction of $6,000,080.40. Following the completion of the purchase, the insider now directly owns 14,964,899 shares in the company, valued at $852,550,296.03. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Jason L. Taylor sold 4,000 shares of the business’s stock in a transaction that occurred on Monday, September 12th. The stock was sold at an average price of $57.30, for a total transaction of $229,200.00. Following the sale, the insider now owns 5,937 shares of the company’s stock, valued at $340,190.10. The disclosure for this sale can be found here. 0.95% of the stock is currently owned by company insiders.
Institutional Investors Weigh In On Beacon Roofing Supply
Institutional investors have recently bought and sold shares of the business. American Century Companies Inc. boosted its stake in shares of Beacon Roofing Supply by 8.6% in the first quarter. American Century Companies Inc. now owns 3,622,807 shares of the company’s stock valued at $214,760,000 after purchasing an additional 285,685 shares during the period. Frontier Capital Management Co. LLC boosted its stake in shares of Beacon Roofing Supply by 19.9% in the second quarter. Frontier Capital Management Co. LLC now owns 1,689,713 shares of the company’s stock valued at $86,784,000 after purchasing an additional 280,972 shares during the period. Great Lakes Advisors LLC bought a new position in Beacon Roofing Supply during the 3rd quarter valued at $9,968,000. FMR LLC boosted its stake in Beacon Roofing Supply by 1.6% during the 2nd quarter. FMR LLC now owns 10,311,211 shares of the company’s stock valued at $529,583,000 after acquiring an additional 160,181 shares during the last quarter. Finally, Vaughan Nelson Investment Management L.P. boosted its stake in Beacon Roofing Supply by 24.8% during the 1st quarter. Vaughan Nelson Investment Management L.P. now owns 621,115 shares of the company’s stock valued at $36,820,000 after acquiring an additional 123,395 shares during the last quarter.
Beacon Roofing Supply Company Profile
Beacon Roofing Supply, Inc, together with its subsidiaries, distributes residential and non-residential roofing materials, and complementary building products to contractors, home builders, building owners, lumberyards, and retailers. 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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