Beacon Roofing Supply, Inc. (NASDAQ:BECN – Get Rating) – Analysts at KeyCorp raised their Q2 2022 EPS estimates for shares of Beacon Roofing Supply in a research report issued to clients and investors on Wednesday, May 25th. KeyCorp analyst K. Zener now forecasts that the company will post earnings of $2.06 per share for the quarter, up from their prior estimate of $1.81. KeyCorp also issued estimates for Beacon Roofing Supply’s FY2022 earnings at $6.27 EPS and FY2023 earnings at $6.29 EPS.
Other equities analysts also recently issued research reports about the company. Robert W. Baird lifted their price objective on Beacon Roofing Supply from $74.00 to $83.00 in a research report on Friday, May 6th. Truist Financial decreased their price objective on Beacon Roofing Supply from $58.00 to $55.00 in a research note on Monday, February 7th. StockNews.com started coverage on Beacon Roofing Supply in a research note on Thursday, March 31st. They issued a “hold” rating for the company. Zacks Investment Research raised Beacon Roofing Supply from a “hold” rating to a “strong-buy” rating and set a $73.00 target price for the company in a research note on Thursday, May 19th. Finally, Wells Fargo & Company boosted their target price on Beacon Roofing Supply from $59.00 to $67.00 and gave the company an “equal weight” rating in a research note on Thursday, April 21st. Seven investment analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Beacon Roofing Supply has an average rating of “Hold” and an average target price of $65.22.
Shares of BECN stock opened at $61.21 on Monday. The stock’s fifty day simple moving average is $60.10 and its 200 day simple moving average is $57.46. 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 has a one year low of $46.62 and a one year high of $64.90. The firm has a market cap of $4.21 billion, a price-to-earnings ratio of 17.69 and a beta of 1.77.
Beacon Roofing Supply (NASDAQ:BECN – Get Rating) last announced its quarterly earnings results on Thursday, May 5th. The company reported $0.89 EPS for the quarter, beating the consensus estimate of $0.49 by $0.40. The business had revenue of $1.69 billion for the quarter, compared to analyst estimates of $1.43 billion. Beacon Roofing Supply had a return on equity of 26.21% and a net margin of 4.24%.
A number of large investors have recently added to or reduced their stakes in BECN. Ellevest Inc. raised its stake in Beacon Roofing Supply by 1,193.9% in the first quarter. Ellevest Inc. now owns 427 shares of the company’s stock valued at $25,000 after buying an additional 394 shares during the period. Exchange Traded Concepts LLC bought a new position in shares of Beacon Roofing Supply during the fourth quarter worth approximately $26,000. Advisor Group Holdings Inc. increased its stake in shares of Beacon Roofing Supply by 37.5% during the first 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. UBS Group AG increased its stake in shares of Beacon Roofing Supply by 44.5% during the third quarter. UBS Group AG now owns 1,455 shares of the company’s stock worth $69,000 after purchasing an additional 448 shares during the period. Finally, Gladius Capital Management LP bought a new position in shares of Beacon Roofing Supply during the fourth quarter worth approximately $92,000.
In other Beacon Roofing Supply news, insider Clement Munroe Best III sold 4,000 shares of the company’s stock in a transaction that occurred on Wednesday, March 16th. The stock was sold at an average price of $63.00, for a total value of $252,000.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, major shareholder Cd&R Investment Associates Ix, acquired 102,219 shares of the company’s stock in a transaction on Friday, April 29th. The stock was acquired at an average price of $58.70 per share, for a total transaction of $6,000,255.30. Following the purchase, the insider now directly owns 14,755,648 shares of the company’s stock, valued at $866,156,537.60. The disclosure for this purchase can be found here. Corporate insiders own 0.95% of the company’s stock.
Beacon Roofing Supply Company Profile (Get Rating)
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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