Stifel Nicolaus Boosts Beacon Roofing Supply (NASDAQ:BECN) Price Target to $91.00
Beacon Roofing Supply (NASDAQ:BECN – Get Rating) had its target price boosted by investment analysts at Stifel Nicolaus from $80.00 to $91.00 in a report issued on Monday, Benzinga reports. The firm presently has a “buy” rating on the stock. Stifel Nicolaus’ price target points to a potential upside of 63.67% from the company’s current price.
A number of other research firms also recently weighed in on BECN. Deutsche Bank Aktiengesellschaft decreased their price target on Beacon Roofing Supply from $90.00 to $79.00 and set a “buy” rating on the stock in a research note on Thursday, October 20th. StockNews.com began coverage on shares of Beacon Roofing Supply in a research note on Wednesday, October 12th. They set a “hold” rating on the stock. Royal Bank of Canada reduced their price objective on shares of Beacon Roofing Supply from $59.00 to $54.00 and set a “sector perform” rating for the company in a research note on Monday, November 7th. Finally, Robert W. Baird lowered shares of Beacon Roofing Supply from an “outperform” rating to a “neutral” rating and lowered their target price for the stock from $77.00 to $65.00 in a research report on Friday, October 14th. Seven analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $65.38.
Beacon Roofing Supply Stock Performance
Beacon Roofing Supply stock traded down $0.14 during trading hours on Monday, reaching $55.60. 170 shares of the stock were exchanged, compared to its average volume of 522,702. The stock has a market cap of $3.62 billion, a P/E ratio of 10.25 and a beta of 1.61. The firm’s 50 day moving average is $56.86 and its 200 day moving average is $56.59. The company has a debt-to-equity ratio of 1.01, a quick ratio of 1.10 and a current ratio of 1.92. Beacon Roofing Supply has a 52-week low of $45.71 and a 52-week high of $65.30.
Beacon Roofing Supply (NASDAQ:BECN – Get Rating) last announced its quarterly earnings data on Thursday, November 3rd. The company reported $2.25 EPS for the quarter, beating analysts’ consensus estimates of $2.10 by $0.15. Beacon Roofing Supply had a net margin of 5.52% and a return on equity of 31.40%. The firm had revenue of $2.42 billion during the quarter, compared to the consensus estimate of $2.35 billion. Analysts predict that Beacon Roofing Supply will post 7.11 EPS for the current fiscal year.
Insider Activity at Beacon Roofing Supply
In other Beacon Roofing Supply news, major shareholder Cd&R Investment Associates Ix, bought 105,320 shares of the business’s stock in a transaction on 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 completion of the transaction, the insider now owns 14,964,899 shares in the company, valued at approximately $852,550,296.03. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.95% of the stock is owned by corporate insiders.
Hedge Funds Weigh In On Beacon Roofing Supply
Hedge funds have recently bought and sold shares of the stock. Retirement Group LLC increased its position in Beacon Roofing Supply by 100.0% during the 2nd quarter. Retirement Group LLC now owns 548 shares of the company’s stock worth $28,000 after purchasing an additional 274 shares in the last quarter. Bessemer Group Inc. grew its holdings in shares of Beacon Roofing Supply by 298.6% during the third quarter. Bessemer Group Inc. now owns 1,120 shares of the company’s stock worth $62,000 after buying an additional 839 shares in the last quarter. Advisor Group Holdings Inc. raised its position in shares of Beacon Roofing Supply by 37.5% in the first quarter. Advisor Group Holdings Inc. now owns 1,101 shares of the company’s stock valued at $65,000 after buying an additional 300 shares during the last quarter. DekaBank Deutsche Girozentrale purchased a new position in shares of Beacon Roofing Supply during the second quarter valued at approximately $67,000. Finally, Pictet Asset Management SA purchased a new position in shares of Beacon Roofing Supply during the third quarter valued at approximately $200,000.
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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