Beacon Roofing Supply (NASDAQ:BECN – Get Rating) had its price target raised by stock analysts at Deutsche Bank Aktiengesellschaft from $79.00 to $81.00 in a report issued on Tuesday, The Fly reports. Deutsche Bank Aktiengesellschaft’s price objective suggests a potential upside of 54.82% from the company’s previous close.
BECN has been the subject of several other reports. Royal Bank of Canada lowered their target price on Beacon Roofing Supply from $59.00 to $54.00 and set a “sector perform” rating for the company in a report on Monday, November 7th. Robert W. Baird downgraded Beacon Roofing Supply from an “outperform” rating to a “neutral” rating and reduced their price objective for the stock from $77.00 to $65.00 in a research report on Friday, October 14th. StockNews.com assumed coverage on Beacon Roofing Supply in a research report on Wednesday, October 12th. They set a “hold” rating for the company. Finally, Stifel Nicolaus boosted their price objective on Beacon Roofing Supply from $80.00 to $91.00 and gave the stock a “buy” rating in a research report on Monday, December 19th. Seven investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $65.63.
Beacon Roofing Supply Stock Down 1.1 %
Beacon Roofing Supply stock traded down $0.59 during midday trading on Tuesday, hitting $52.32. The stock had a trading volume of 929,930 shares, compared to its average volume of 580,408. The company has a current ratio of 1.92, a quick ratio of 1.10 and a debt-to-equity ratio of 1.01. The stock has a market cap of $3.40 billion, a P/E ratio of 9.62 and a beta of 1.60. Beacon Roofing Supply has a 12 month low of $45.71 and a 12 month high of $65.30. The business has a fifty day moving average price of $56.20 and a 200 day moving average price of $56.17.
Beacon Roofing Supply (NASDAQ:BECN – Get Rating) last posted its earnings results on Thursday, November 3rd. The company reported $2.25 EPS for the quarter, beating the consensus estimate of $2.10 by $0.15. The company had revenue of $2.42 billion during the quarter, compared to analyst estimates of $2.35 billion. Beacon Roofing Supply had a return on equity of 31.40% and a net margin of 5.52%. Research analysts predict that Beacon Roofing Supply will post 7.09 EPS for the current year.
Insiders Place Their Bets
In related news, major shareholder Cd&R Investment Associates Ix, acquired 105,320 shares of the business’s stock in a transaction dated Friday, October 28th. The stock was bought at an average price of $56.97 per share, for a total transaction of $6,000,080.40. Following the transaction, the insider now owns 14,964,899 shares of the company’s stock, valued at $852,550,296.03. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. 0.95% of the stock is currently owned by insiders.
Institutional Investors Weigh In On Beacon Roofing Supply
Institutional investors and hedge funds have recently modified their holdings of the stock. Advisor Group Holdings Inc. raised its stake in Beacon Roofing Supply by 37.5% during the 1st quarter. Advisor Group Holdings Inc. now owns 1,101 shares of the company’s stock valued at $65,000 after purchasing an additional 300 shares during the period. Raymond James & Associates raised its holdings in shares of Beacon Roofing Supply by 11.6% during the first quarter. Raymond James & Associates now owns 13,449 shares of the company’s stock worth $797,000 after acquiring an additional 1,397 shares in the last quarter. Raymond James Financial Services Advisors Inc. acquired a new stake in Beacon Roofing Supply during the first quarter valued at $317,000. AlphaCrest Capital Management LLC grew its stake 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 purchasing an additional 273 shares in the last quarter. Finally, Bank of Montreal Can increased its position in Beacon Roofing Supply by 27.0% in the 1st quarter. Bank of Montreal Can now owns 10,659 shares of the company’s stock worth $665,000 after purchasing an additional 2,267 shares during the last quarter.
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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