Beacon Roofing Supply (NASDAQ:BECN – Get Rating) was upgraded by equities researchers at JPMorgan Chase & Co. from an “underweight” rating to a “neutral” rating in a research report issued on Wednesday, The Fly reports.
BECN has been the subject of a number of other research reports. Robert W. Baird increased their price objective on Beacon Roofing Supply from $69.00 to $72.00 in a research report on Friday, February 4th. Truist Financial reduced their target price on Beacon Roofing Supply from $58.00 to $55.00 in a report on Monday, February 7th. Finally, Raymond James upgraded Beacon Roofing Supply from a “market perform” rating to an “outperform” rating and set a $62.00 target price for the company in a report on Monday, December 6th. Eight equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $60.67.
Shares of NASDAQ:BECN opened at $62.16 on Wednesday. Beacon Roofing Supply has a one year low of $46.62 and a one year high of $63.64. The stock has a fifty day moving average of $57.54 and a 200-day moving average of $54.97. The company has a market capitalization of $4.38 billion, a PE ratio of 23.28 and a beta of 1.92. The company has a debt-to-equity ratio of 0.94, a quick ratio of 1.08 and a current ratio of 1.82.
Beacon Roofing Supply (NASDAQ:BECN – Get Rating) last announced its quarterly earnings data on Thursday, February 3rd. The company reported $1.28 EPS for the quarter, beating analysts’ consensus estimates of $1.19 by $0.09. Beacon Roofing Supply had a return on equity of 23.98% and a net margin of 3.56%. The company had revenue of $1.75 billion during the quarter, compared to the consensus estimate of $1.57 billion. As a group, research analysts forecast that Beacon Roofing Supply will post 5.32 EPS for the current fiscal year.
In other Beacon Roofing Supply news, insider Clement Munroe Best III sold 4,000 shares of the stock in a transaction on Wednesday, March 16th. The shares were sold at an average price of $63.00, for a total transaction of $252,000.00. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, major shareholder Cd&R Investment Associates Ix, bought 107,456 shares of the stock in a transaction on Friday, January 28th. The shares were acquired at an average cost of $55.84 per share, for a total transaction of $6,000,343.04. The disclosure for this purchase can be found here. Corporate insiders own 0.95% of the company’s stock.
Institutional investors have recently bought and sold shares of the business. Segall Bryant & Hamill LLC grew its position in shares of Beacon Roofing Supply by 22.0% in the third quarter. Segall Bryant & Hamill LLC now owns 541,091 shares of the company’s stock valued at $25,840,000 after purchasing an additional 97,685 shares during the last quarter. Twinbeech Capital LP acquired a new stake in shares of Beacon Roofing Supply in the third quarter valued at about $269,000. Franklin Resources Inc. grew its position in shares of Beacon Roofing Supply by 0.6% in the third quarter. Franklin Resources Inc. now owns 1,299,783 shares of the company’s stock valued at $62,078,000 after purchasing an additional 7,915 shares during the last quarter. Principal Financial Group Inc. grew its position in shares of Beacon Roofing Supply by 19.9% in the third quarter. Principal Financial Group Inc. now owns 9,953 shares of the company’s stock valued at $475,000 after purchasing an additional 1,652 shares during the last quarter. Finally, Mercer Global Advisors Inc. ADV grew its position in shares of Beacon Roofing Supply by 6.4% in the third quarter. Mercer Global Advisors Inc. ADV now owns 8,924 shares of the company’s stock valued at $426,000 after purchasing an additional 536 shares during the last quarter.
About Beacon Roofing Supply (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.
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat’s editorial team prior to publication. Please send any questions or comments about this story to [email protected]
Should you invest $1,000 in Beacon Roofing Supply right now?
Before you consider Beacon Roofing Supply, you’ll want to hear this.
MarketBeat keeps track of Wall Street’s top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on… and Beacon Roofing Supply wasn’t on the list.
While Beacon Roofing Supply currently has a “Hold” rating among analysts, top-rated analysts believe these five stocks are better buys.
View The 5 Stocks Here