Shares of Beacon Roofing Supply, Inc. (NASDAQ:BECN – Get Rating) have been assigned an average rating of “Hold” from the eleven analysts that are covering the company, Marketbeat reports. Six research analysts have rated the stock with a hold recommendation and one has given a buy recommendation to the company. The average twelve-month target price among brokers that have updated their coverage on the stock in the last year is $61.38.
A number of brokerages recently commented on BECN. Robert W. Baird boosted their target price on Beacon Roofing Supply from $74.00 to $83.00 in a research report on Friday, May 6th. JPMorgan Chase & Co. cut their price target on Beacon Roofing Supply from $66.00 to $59.00 in a research note on Friday. StockNews.com initiated coverage on Beacon Roofing Supply in a research note on Thursday, March 31st. They set a “hold” rating for the company. Royal Bank of Canada downgraded Beacon Roofing Supply from an “outperform” rating to a “sector perform” rating and cut their price target for the company from $70.00 to $58.00 in a research note on Wednesday, June 22nd. Finally, Wells Fargo & Company cut their price target on Beacon Roofing Supply from $67.00 to $56.00 and set an “equal weight” rating for the company in a research note on Tuesday, June 28th.
Insider Buying and Selling
In related news, major shareholder Cd&R Investment Associates Ix, purchased 102,219 shares of the stock in a transaction that occurred on Friday, April 29th. The shares were bought at an average price of $58.70 per share, with a total value of $6,000,255.30. Following the acquisition, the insider now owns 14,755,648 shares of the company’s stock, valued at approximately $866,156,537.60. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 0.95% of the stock is currently owned by insiders.
Institutional Inflows and Outflows
Institutional investors have recently made changes to their positions in the company. Equitable Trust Co. boosted its position in Beacon Roofing Supply by 3.1% during the first quarter. Equitable Trust Co. now owns 7,555 shares of the company’s stock valued at $448,000 after buying an additional 225 shares during the period. First Manhattan Co. boosted its position in Beacon Roofing Supply by 4.3% during the first quarter. First Manhattan Co. now owns 5,633 shares of the company’s stock valued at $333,000 after buying an additional 233 shares during the period. FourThought Financial LLC boosted its position in Beacon Roofing Supply by 10.2% during the first quarter. FourThought Financial LLC now owns 2,657 shares of the company’s stock valued at $158,000 after buying an additional 245 shares during the period. Commonwealth Equity Services LLC boosted its position in Beacon Roofing Supply by 4.2% during the fourth quarter. Commonwealth Equity Services LLC now owns 6,146 shares of the company’s stock valued at $352,000 after buying an additional 247 shares during the period. Finally, AlphaCrest Capital Management LLC boosted its position in Beacon Roofing Supply by 4.0% during the first quarter. AlphaCrest Capital Management LLC now owns 7,063 shares of the company’s stock valued at $419,000 after buying an additional 273 shares during the period.
Beacon Roofing Supply Stock Performance
Shares of Beacon Roofing Supply stock opened at $54.90 on Friday. Beacon Roofing Supply has a one year low of $45.71 and a one year high of $65.30. The firm has a market capitalization of $3.77 billion, a price-to-earnings ratio of 15.87 and a beta of 1.78. The business has a 50-day simple moving average of $57.21 and a 200 day simple moving average of $57.62. The company has a debt-to-equity ratio of 1.01, a current ratio of 1.85 and a quick ratio of 0.92.
Beacon Roofing Supply (NASDAQ:BECN – Get Rating) last issued its earnings results on Thursday, May 5th. The company reported $0.89 EPS for the quarter, beating analysts’ consensus estimates of $0.49 by $0.40. Beacon Roofing Supply had a return on equity of 26.21% and a net margin of 4.24%. The business had revenue of $1.69 billion during the quarter, compared to analyst estimates of $1.43 billion. On average, research analysts anticipate that Beacon Roofing Supply will post 6.61 earnings per share for the current fiscal year.
About Beacon Roofing Supply
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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