Beacon Roofing Supply, Inc. (NASDAQ:BECN) Receives $111.30 Average PT from Analysts

Beacon Roofing Supply, Inc. (NASDAQ:BECN) has been given an average recommendation of “Moderate Buy” by the ten research firms that are covering the stock, MarketBeat reports. Two analysts have rated the stock with a hold rating and eight have given a buy rating to the company. The average 12-month price target among brokers that have updated their coverage on the stock in the last year is $111.30.

BECN has been the subject of several research reports. Royal Bank of Canada reduced their target price on Beacon Roofing Supply from $119.00 to $113.00 and set an “outperform” rating for the company in a report on Friday, August 2nd. Stephens lowered their target price on shares of Beacon Roofing Supply from $107.00 to $95.00 and set an “equal weight” rating on the stock in a research report on Monday, August 5th. Finally, Robert W. Baird cut their target price on shares of Beacon Roofing Supply from $117.00 to $115.00 and set an “outperform” rating on the stock in a report on Friday, August 2nd.

Beacon Roofing Supply Price Performance

Beacon Roofing Supply stock opened at $86.43 on Tuesday. The company has a current ratio of 1.90, a quick ratio of 1.09 and a debt-to-equity ratio of 1.75. The company has a fifty day simple moving average of $87.97 and a 200-day simple moving average of $92.84. The stock has a market cap of $5.50 billion, a P/E ratio of -137.19 and a beta of 1.55. Beacon Roofing Supply has a 12-month low of $68.50 and a 12-month high of $105.42.

Beacon Roofing Supply (NASDAQ:BECN) last posted its earnings results on Thursday, August 1st. The company reported $2.32 earnings per share for the quarter, missing the consensus estimate of $2.79 by ($0.47). The business had revenue of $2.67 billion for the quarter, compared to analysts’ expectations of $2.69 billion. Beacon Roofing Supply had a return on equity of 26.02% and a net margin of 4.11%. Beacon Roofing Supply’s revenue for the quarter was up 6.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.66 EPS. Equities analysts expect that Beacon Roofing Supply will post 7.39 EPS for the current fiscal year.

Insider Transactions at Beacon Roofing Supply

In other Beacon Roofing Supply news, EVP Christopher Carl Nelson sold 1,627 shares of Beacon Roofing Supply stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $85.00, for a total value of $138,295.00. Following the sale, the executive vice president now owns 320 shares of the company’s stock, valued at approximately $27,200. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other Beacon Roofing Supply news, EVP Christopher Carl Nelson sold 1,627 shares of the stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $85.00, for a total value of $138,295.00. Following the completion of the transaction, the executive vice president now owns 320 shares in the company, valued at $27,200. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Prithvi Gandhi bought 5,000 shares of the firm’s stock in a transaction on Wednesday, August 7th. The shares were bought at an average price of $82.29 per share, for a total transaction of $411,450.00. Following the completion of the transaction, the chief financial officer now directly owns 5,000 shares in the company, valued at approximately $411,450. The disclosure for this purchase can be found here. Company insiders own 1.30% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in BECN. Norges Bank purchased a new stake in shares of Beacon Roofing Supply during the 4th quarter worth approximately $59,850,000. TFO Wealth Partners LLC grew its holdings in Beacon Roofing Supply by 132,500.0% in the fourth quarter. TFO Wealth Partners LLC now owns 3,978 shares of the company’s stock valued at $346,000 after purchasing an additional 3,975 shares during the last quarter. Alpha DNA Investment Management LLC purchased a new position in shares of Beacon Roofing Supply in the fourth quarter valued at $536,000. Eagle Asset Management Inc. raised its stake in shares of Beacon Roofing Supply by 2.4% during the 4th quarter. Eagle Asset Management Inc. now owns 156,284 shares of the company’s stock worth $13,600,000 after buying an additional 3,591 shares during the last quarter. Finally, Rafferty Asset Management LLC boosted its position in shares of Beacon Roofing Supply by 40.0% in the 4th quarter. Rafferty Asset Management LLC now owns 17,877 shares of the company’s stock worth $1,556,000 after buying an additional 5,108 shares in the last quarter. 98.45% of the stock is currently owned by institutional investors and hedge funds.

Beacon Roofing Supply Company Profile

Beacon Roofing Supply, Inc, together with its subsidiaries, engages in the distribution of residential and non-residential roofing materials, and complementary building products to contractors, home builders, building owners, lumberyards, and retailers in the United States and Canada. The company 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.