Beacon Roofing Supply, Inc. (NASDAQ:BECN) Given Average Recommendation of “Hold” by Analysts
Beacon Roofing Supply, Inc. (NASDAQ:BECN – Get Rating) has received an average recommendation of “Hold” from the ten analysts that are covering the stock, MarketBeat.com reports. Six research analysts have rated the stock with a hold recommendation and two have given a buy recommendation to the company. The average 1 year target price among analysts that have issued a report on the stock in the last year is $62.25.
A number of analysts have recently weighed in on BECN shares. Deutsche Bank Aktiengesellschaft dropped their target price on shares of Beacon Roofing Supply from $90.00 to $79.00 and set a “buy” rating for the company in a report on Thursday, October 20th. StockNews.com initiated coverage on shares of Beacon Roofing Supply in a report on Wednesday, October 12th. They issued a “hold” rating for the company. Robert W. Baird lowered shares of Beacon Roofing Supply from an “outperform” rating to a “neutral” rating and lowered their price objective for the stock from $77.00 to $65.00 in a report on Friday, October 14th. JPMorgan Chase & Co. lowered their price objective on shares of Beacon Roofing Supply from $66.00 to $59.00 in a report on Friday, July 15th. Finally, William Blair lowered shares of Beacon Roofing Supply from an “outperform” rating to a “market perform” rating in a report on Tuesday, July 19th.
Insider Activity
In other Beacon Roofing Supply news, major shareholder Cd&R Investment Associates Ix, bought 103,931 shares of the stock in a transaction dated Friday, July 29th. The stock was purchased at an average cost of $57.73 per share, for a total transaction of $5,999,936.63. Following the completion of the acquisition, the insider now owns 14,859,579 shares of the company’s stock, valued at $857,843,495.67. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, major shareholder Cd&R Investment Associates Ix, purchased 103,931 shares of Beacon Roofing Supply stock in a transaction that occurred on Friday, July 29th. The stock was bought at an average price of $57.73 per share, with a total value of $5,999,936.63. Following the completion of the transaction, the insider now directly owns 14,859,579 shares of the company’s stock, valued at $857,843,495.67. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Jason L. Taylor sold 4,000 shares of the firm’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 sale, the insider now directly owns 5,937 shares of the company’s stock, valued at approximately $340,190.10. The disclosure for this sale can be found here. Company insiders own 0.95{7e5ff73c23cd1cd7ac587f9048f78b3ced175b09520fe5fee10055eb3132dce7} of the company’s stock.
Institutional Investors Weigh In On Beacon Roofing Supply
Several institutional investors and hedge funds have recently made changes to their positions in BECN. Ellevest Inc. increased its position in shares of Beacon Roofing Supply by 1,193.9{7e5ff73c23cd1cd7ac587f9048f78b3ced175b09520fe5fee10055eb3132dce7} during the first quarter. Ellevest Inc. now owns 427 shares of the company’s stock valued at $25,000 after acquiring an additional 394 shares in the last quarter. Retirement Group LLC increased its position in shares of Beacon Roofing Supply by 100.0{7e5ff73c23cd1cd7ac587f9048f78b3ced175b09520fe5fee10055eb3132dce7} during the second quarter. Retirement Group LLC now owns 548 shares of the company’s stock valued at $28,000 after acquiring an additional 274 shares in the last quarter. Advisor Group Holdings Inc. grew its position in Beacon Roofing Supply by 37.5{7e5ff73c23cd1cd7ac587f9048f78b3ced175b09520fe5fee10055eb3132dce7} in the 1st quarter. Advisor Group Holdings Inc. now owns 1,101 shares of the company’s stock worth $65,000 after purchasing an additional 300 shares during the period. DekaBank Deutsche Girozentrale bought a new stake in Beacon Roofing Supply in the 2nd quarter worth approximately $67,000. Finally, Nisa Investment Advisors LLC bought a new stake in Beacon Roofing Supply in the 1st quarter worth approximately $136,000.
Beacon Roofing Supply Stock Performance
Beacon Roofing Supply stock opened at $53.58 on Tuesday. The company has a current ratio of 1.91, a quick ratio of 1.02 and a debt-to-equity ratio of 1.24. The firm has a 50-day moving average of $56.08 and a 200-day moving average of $57.43. The firm has a market cap of $3.48 billion, a P/E ratio of 11.38 and a beta of 1.68. Beacon Roofing Supply has a 1-year low of $45.71 and a 1-year high of $65.30.
Beacon Roofing Supply (NASDAQ:BECN – Get Rating) last posted its earnings results on Thursday, August 4th. The company reported $2.41 earnings per share for the quarter, topping analysts’ consensus estimates of $2.36 by $0.05. The company had revenue of $2.36 billion during the quarter, compared to analyst estimates of $2.28 billion. Beacon Roofing Supply had a net margin of 5.25{7e5ff73c23cd1cd7ac587f9048f78b3ced175b09520fe5fee10055eb3132dce7} and a return on equity of 29.19{7e5ff73c23cd1cd7ac587f9048f78b3ced175b09520fe5fee10055eb3132dce7}. Beacon Roofing Supply’s revenue for the quarter was up 26.0{7e5ff73c23cd1cd7ac587f9048f78b3ced175b09520fe5fee10055eb3132dce7} on a year-over-year basis. During the same period in the prior year, the business posted $1.59 earnings per share. Sell-side analysts expect that Beacon Roofing Supply will post 6.87 EPS for the current 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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