Shares of Beacon Roofing Supply, Inc. (NASDAQ:BECN – Get Rating) have been assigned an average rating of “Hold” from the ten brokerages that are currently covering the firm, Marketbeat Ratings reports. Six investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The average 1 year price objective among brokers that have issued ratings on the stock in the last year is $65.38.
BECN has been the topic of a number of recent research reports. StockNews.com started coverage on Beacon Roofing Supply in a research report on Wednesday, October 12th. They set a “hold” rating on the stock. Robert W. Baird cut Beacon Roofing Supply from an “outperform” rating to a “neutral” rating and decreased their price target for the company from $77.00 to $65.00 in a research note on Friday, October 14th. Stifel Nicolaus raised their price objective on Beacon Roofing Supply from $80.00 to $91.00 and gave the stock a “buy” rating in a research note on Monday, December 19th. Deutsche Bank Aktiengesellschaft reduced their price objective on Beacon Roofing Supply from $90.00 to $79.00 and set a “buy” rating for the company in a research note on Thursday, October 20th. Finally, Royal Bank of Canada dropped their target price on Beacon Roofing Supply from $59.00 to $54.00 and set a “sector perform” rating on the stock in a report on Monday, November 7th.
Insider Buying and Selling
In related news, major shareholder Cd&R Investment Associates Ix, bought 105,320 shares of the stock in a transaction that occurred on Friday, October 28th. The stock was purchased at an average cost of $56.97 per share, with a total value of $6,000,080.40. Following the purchase, the insider now directly owns 14,964,899 shares of the company’s stock, valued at approximately $852,550,296.03. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.95% of the stock is currently owned by insiders.
Institutional Inflows and Outflows
Several institutional investors and hedge funds have recently made changes to their positions in BECN. Frontier Capital Management Co. LLC lifted its holdings in shares of Beacon Roofing Supply by 19.9% in the 2nd 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 last quarter. Point72 Asset Management L.P. lifted its holdings in shares of Beacon Roofing Supply by 497.8% in the 3rd quarter. Point72 Asset Management L.P. now owns 266,600 shares of the company’s stock valued at $14,588,000 after purchasing an additional 222,000 shares during the last quarter. Great Lakes Advisors LLC purchased a new stake in shares of Beacon Roofing Supply in the 3rd quarter valued at about $9,968,000. FMR LLC lifted its holdings in shares of Beacon Roofing Supply by 1.6% in the 2nd quarter. FMR LLC now owns 10,311,211 shares of the company’s stock valued at $529,583,000 after purchasing an additional 160,181 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD lifted its holdings in shares of Beacon Roofing Supply by 4.0% in the 2nd quarter. Price T Rowe Associates Inc. MD now owns 2,806,283 shares of the company’s stock valued at $144,131,000 after purchasing an additional 106,890 shares during the last quarter.
Beacon Roofing Supply Stock Up 3.0 %
NASDAQ BECN opened at $53.11 on Friday. The stock’s 50 day moving average is $56.26 and its 200 day moving average is $56.09. The company has a current ratio of 1.92, a quick ratio of 1.10 and a debt-to-equity ratio of 1.01. Beacon Roofing Supply has a 12 month low of $45.71 and a 12 month high of $65.30. The stock has a market cap of $3.46 billion, a PE ratio of 9.76 and a beta of 1.60.
Beacon Roofing Supply (NASDAQ:BECN – Get Rating) last issued its quarterly earnings data on Thursday, November 3rd. The company reported $2.25 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.10 by $0.15. Beacon Roofing Supply had a return on equity of 31.40% and a net margin of 5.52%. The business had revenue of $2.42 billion for the quarter, compared to analysts’ expectations of $2.35 billion. Research analysts predict that Beacon Roofing Supply will post 7.09 EPS for the current fiscal year.
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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