Zelman & Assoc Initiates Coverage of Beacon Roofing Supply (BECN) with Hold Recommendation
On February 7, 2023,
Zelman & Assoc
initiated coverage of Beacon Roofing Supply with
a Hold recommendation.
Analyst Price Forecast Suggests 17.79% Upside
As of February 8, 2023,
the average one-year price target for Beacon Roofing Supply is $71.09.
The forecasts range from a low of $52.52 to a high of $95.55.
The average price target represents an increase of 17.79% from its latest reported closing price of $60.35.
The projected annual revenue for Beacon Roofing Supply
is $8,621MM, an increase of 2.46%.
The projected annual EPS
is $6.25, an increase of 7.04%.
What are large shareholders doing?
Clayton, Dubilier & Rice
holds 14,983,387 shares
representing 23.03% ownership of the company.
In it’s prior filing, the firm reported owning 14,878,067 shares, representing
its portfolio allocation in BECN by 34.33% over the last quarter.
T. Rowe Price Investment Management
holds 3,711,701 shares
representing 5.70% ownership of the company.
American Century Companies
holds 2,374,493 shares
representing 3.65% ownership of the company.
In it’s prior filing, the firm reported owning 3,147,741 shares, representing
its portfolio allocation in BECN by 13.53% over the last quarter.
holds 1,794,826 shares
representing 2.76% ownership of the company.
In it’s prior filing, the firm reported owning 1,722,926 shares, representing
its portfolio allocation in BECN by 23.51% over the last quarter.
Frontier Capital Management Co
holds 1,762,903 shares
representing 2.71% ownership of the company.
In it’s prior filing, the firm reported owning 1,689,713 shares, representing
its portfolio allocation in BECN by 13.20% over the last quarter.
There are 505 funds or institutions reporting positions in Beacon Roofing Supply.
This is a decrease
owner(s) or 3.07%.
Average portfolio weight of all funds dedicated to US:BECN is 0.2588%,
Total shares owned by institutions decreased
in the last three months by 2.53% to 74,262K shares.
Beacon Roofing Supply Background Information
(This description is provided by the company.)
Founded in 1928, Beacon is a Fortune 500, publicly traded distributor of roofing materials and complementary building products in North America, operating over 400 branches throughout all 50 states in the U.S. and 6 provinces in Canada. Beacon serves an extensive base of over 90,000 customers, utilizing its vast branch network and diverse service offerings to provide high-quality products and support throughout the entire business lifecycle. Beacon offers its own private label brand, TRI-BUILT, and has a proprietary digital account management suite, Beacon PRO+, which allows customers to manage their businesses online.
This story originally appeared on Fintel.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.