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

Shares of Beacon Roofing Supply, Inc. (NASDAQ:BECN) have earned a consensus rating of “Moderate Buy” from the ten ratings firms that are presently covering the company, MarketBeat.com reports. Two research analysts have rated the stock with a hold recommendation and eight have issued a buy recommendation on the company. The average 12 month price objective among brokers that have issued a report on the stock in the last year is $111.30.

A number of research firms recently issued reports on BECN. Royal Bank of Canada decreased their price target on shares of Beacon Roofing Supply from $119.00 to $113.00 and set an “outperform” rating on the stock in a research note on Friday, August 2nd. Robert W. Baird dropped 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 research note on Friday, August 2nd. Finally, Stephens decreased their price objective on Beacon Roofing Supply from $107.00 to $95.00 and set an “equal weight” rating for the company in a report on Monday, August 5th.

Beacon Roofing Supply Stock Up 3.2 %

NASDAQ BECN opened at $87.55 on Tuesday. The company has a quick ratio of 1.09, a current ratio of 1.90 and a debt-to-equity ratio of 1.75. Beacon Roofing Supply has a 52 week low of $68.50 and a 52 week high of $105.42. The company has a market capitalization of $5.42 billion, a P/E ratio of -138.97 and a beta of 1.55. The stock’s 50-day moving average price is $88.15 and its 200-day moving average price is $92.74.

Beacon Roofing Supply (NASDAQ:BECN) last announced its quarterly earnings data on Thursday, August 1st. The company reported $2.32 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.79 by ($0.47). The company had revenue of $2.67 billion for the quarter, compared to analysts’ expectations of $2.69 billion. Beacon Roofing Supply had a net margin of 4.11% and a return on equity of 26.02%. The company’s quarterly revenue was up 6.8% compared to the same quarter last year. During the same period last year, the business earned $2.66 earnings per share. On average, equities research analysts predict that Beacon Roofing Supply will post 7.39 earnings per share for the current year.

Insider Buying and Selling at Beacon Roofing Supply

In related news, CFO Prithvi Gandhi acquired 5,000 shares of the company’s stock in a transaction dated Wednesday, August 7th. The shares were purchased at an average cost of $82.29 per share, with a total value of $411,450.00. Following the completion of the acquisition, the chief financial officer now directly owns 5,000 shares of the company’s stock, valued at $411,450. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. In other Beacon Roofing Supply news, CFO Prithvi Gandhi acquired 5,000 shares of the business’s stock in a transaction dated Wednesday, August 7th. The shares were purchased at an average price of $82.29 per share, for a total transaction of $411,450.00. Following the completion of the purchase, the chief financial officer now directly owns 5,000 shares of the company’s stock, valued at $411,450. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Christopher Carl Nelson sold 1,627 shares of Beacon Roofing Supply stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $85.00, for a total value of $138,295.00. Following the transaction, the executive vice president now owns 320 shares of the company’s stock, valued at approximately $27,200. The disclosure for this sale can be found here. 1.30% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Beacon Roofing Supply

A number of institutional investors have recently modified their holdings of BECN. Caprock Group LLC lifted its stake in Beacon Roofing Supply by 1.3% in the 1st quarter. Caprock Group LLC now owns 8,777 shares of the company’s stock valued at $860,000 after buying an additional 111 shares in the last quarter. Benjamin F. Edwards & Company Inc. increased its position in shares of Beacon Roofing Supply by 28.4% during the first quarter. Benjamin F. Edwards & Company Inc. now owns 525 shares of the company’s stock valued at $52,000 after acquiring an additional 116 shares during the last quarter. Vanguard Personalized Indexing Management LLC increased its holdings in Beacon Roofing Supply by 2.7% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 5,538 shares of the company’s stock valued at $501,000 after purchasing an additional 147 shares during the last quarter. SummerHaven Investment Management LLC raised its holdings in shares of Beacon Roofing Supply by 1.8% in the 2nd quarter. SummerHaven Investment Management LLC now owns 8,874 shares of the company’s stock valued at $803,000 after buying an additional 156 shares during the period. Finally, QRG Capital Management Inc. increased its stake in Beacon Roofing Supply by 1.5% during the first quarter. QRG Capital Management Inc. now owns 10,475 shares of the company’s stock worth $1,027,000 after purchasing an additional 157 shares during the period. 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.