Beacon Roofing Supply, Inc. (NASDAQ:BECN) Receives Average Recommendation of “Hold” from Analysts
Beacon Roofing Supply, Inc. (NASDAQ:BECN – Get Rating) has earned an average rating of “Hold” from the ten analysts that are presently covering the company, MarketBeat Ratings reports. Six analysts have rated the stock with a hold rating and two have issued a buy rating on the company. The average 12-month price target among analysts that have updated their coverage on the stock in the last year is $65.63.
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A number of equities research analysts have recently commented on the stock. Robert W. Baird lowered their price target on shares of Beacon Roofing Supply from $67.00 to $65.00 and set a “neutral” rating for the company in a report on Tuesday, January 24th. Royal Bank of Canada dropped their price target on shares of Beacon Roofing Supply from $59.00 to $54.00 and set a “sector perform” rating for the company in a research note on Monday, November 7th. Deutsche Bank Aktiengesellschaft lifted their price target on shares of Beacon Roofing Supply from $79.00 to $81.00 and gave the stock a “buy” rating in a research note on Tuesday, January 10th. StockNews.com began coverage on shares of Beacon Roofing Supply in a research note on Wednesday, October 12th. They issued a “hold” rating for the company. Finally, Stifel Nicolaus lifted their price target on shares of Beacon Roofing Supply from $80.00 to $91.00 and gave the stock a “buy” rating in a research note on Monday, December 19th.
In related news, major shareholder Cd&R Investment Associates Ix, bought 107,185 shares of the firm’s stock in a transaction on Monday, January 30th. The stock was purchased at an average price of $55.98 per share, with a total value of $6,000,216.30. Following the completion of the transaction, the insider now directly owns 15,072,084 shares of the company’s stock, valued at $843,735,262.32. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. 0.95% of the stock is owned by corporate insiders.
Institutional Investors Weigh In On Beacon Roofing Supply
Hedge funds have recently modified their holdings of the business. Advisor Group Holdings Inc. increased its stake in shares of Beacon Roofing Supply by 37.5% in the first quarter. Advisor Group Holdings Inc. now owns 1,101 shares of the company’s stock valued at $65,000 after buying an additional 300 shares in the last quarter. Raymond James & Associates boosted its holdings in Beacon Roofing Supply by 11.6% in the first quarter. Raymond James & Associates now owns 13,449 shares of the company’s stock valued at $797,000 after acquiring an additional 1,397 shares during the last quarter. Raymond James Financial Services Advisors Inc. bought a new position in Beacon Roofing Supply in the first quarter valued at about $317,000. AlphaCrest Capital Management LLC boosted its holdings in Beacon Roofing Supply by 4.0% in the first quarter. AlphaCrest Capital Management LLC now owns 7,063 shares of the company’s stock valued at $419,000 after acquiring an additional 273 shares during the last quarter. Finally, Bank of Montreal Can boosted its holdings in Beacon Roofing Supply by 27.0% in the first quarter. Bank of Montreal Can now owns 10,659 shares of the company’s stock valued at $665,000 after acquiring an additional 2,267 shares during the last quarter.
Beacon Roofing Supply Stock Performance
Shares of BECN opened at $58.81 on Thursday. The company has a quick ratio of 1.10, a current ratio of 1.92 and a debt-to-equity ratio of 1.01. The company has a 50-day simple moving average of $55.39 and a 200-day simple moving average of $56.32. Beacon Roofing Supply has a 52-week low of $45.71 and a 52-week high of $65.30. The company has a market capitalization of $3.83 billion, a PE ratio of 10.81 and a beta of 1.60.
Beacon Roofing Supply (NASDAQ:BECN – Get Rating) last posted its earnings results on Thursday, November 3rd. The company reported $2.25 earnings per share for the quarter, beating the consensus estimate of $2.10 by $0.15. Beacon Roofing Supply had a net margin of 5.52% and a return on equity of 31.40%. The firm had revenue of $2.42 billion during the quarter, compared to the consensus estimate of $2.35 billion. Equities research analysts predict that Beacon Roofing Supply will post 7.05 earnings per share for the current fiscal year.
About Beacon Roofing Supply
Beacon Roofing Supply, Inc engages in the distribution of residential and non-residential roofing materials. It also distributes complementary building products including siding, windows, specialty exterior building products, insulation, and waterproofing systems for building exteriors. The company was founded on August 22, 1997 and is headquartered in Herndon, VA.
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