Beacon Roofing Supply, Inc. (NASDAQ:BECN – Get Rating) – Research analysts at KeyCorp lifted their Q3 2022 earnings estimates for shares of Beacon Roofing Supply in a research report issued on Wednesday, May 25th. KeyCorp analyst K. Zener now anticipates that the company will post earnings of $1.87 per share for the quarter, up from their previous estimate of $1.65. KeyCorp also issued estimates for Beacon Roofing Supply’s Q4 2022 earnings at $1.41 EPS.
BECN has been the subject of a number of other reports. Truist Financial lowered their price target on Beacon Roofing Supply from $58.00 to $55.00 in a research report on Monday, February 7th. StockNews.com initiated coverage on Beacon Roofing Supply in a research report on Thursday, March 31st. They issued a “hold” rating for the company. Robert W. Baird increased their price target on Beacon Roofing Supply from $74.00 to $83.00 in a research report on Friday, May 6th. Wells Fargo & Company raised their target price on Beacon Roofing Supply from $59.00 to $67.00 and gave the company an “equal weight” rating in a research report on Thursday, April 21st. Finally, JPMorgan Chase & Co. decreased their target price on Beacon Roofing Supply from $68.00 to $66.00 and set a “neutral” rating for the company in a research report on Wednesday, April 20th. Seven equities research 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. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $65.22.
Shares of BECN opened at $59.88 on Friday. Beacon Roofing Supply has a 12-month low of $46.62 and a 12-month high of $64.90. The business’s fifty day moving average is $60.13 and its 200 day moving average is $57.46. The company has a quick ratio of 0.92, a current ratio of 1.85 and a debt-to-equity ratio of 1.01. The stock has a market cap of $4.12 billion, a P/E ratio of 17.31 and a beta of 1.77. Beacon Roofing Supply (NASDAQ:BECN – Get Rating) last posted its quarterly earnings results on Thursday, May 5th. The company reported $0.89 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.49 by $0.40. The firm had revenue of $1.69 billion for the quarter, compared to analysts’ expectations of $1.43 billion. Beacon Roofing Supply had a return on equity of 26.21% and a net margin of 4.24%.
Several large investors have recently bought and sold shares of the company. Ellevest Inc. raised its position in shares of Beacon Roofing Supply by 1,193.9% during the 1st quarter. Ellevest Inc. now owns 427 shares of the company’s stock valued at $25,000 after buying an additional 394 shares in the last quarter. Exchange Traded Concepts LLC acquired a new stake in shares of Beacon Roofing Supply during the fourth quarter worth $26,000. Advisor Group Holdings Inc. lifted 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 buying an additional 300 shares during the period. UBS Group AG lifted 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 buying an additional 448 shares during the period. Finally, Gladius Capital Management LP purchased a new position in shares of Beacon Roofing Supply during the fourth quarter worth $92,000.
In other news, insider Clement Munroe Best III sold 4,000 shares of the business’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 transaction of $252,000.00. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, major shareholder Cd&R Investment Associates Ix, purchased 102,219 shares of the company’s stock in a transaction that occurred on Friday, April 29th. The shares were purchased at an average price of $58.70 per share, for a total transaction of $6,000,255.30. Following the completion of the transaction, 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. 0.95% of the stock is owned by insiders.
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.
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