Beacon Roofing Supply, Inc. (NASDAQ:BECN) Given Average Recommendation of “Moderate Buy” by Brokerages

Beacon Roofing Supply, Inc. (NASDAQ:BECN) has been assigned a consensus recommendation of “Moderate Buy” from the ten brokerages that are currently covering the firm, Marketbeat reports. Two investment analysts have rated the stock with a hold recommendation and eight have given a buy recommendation to the company. The average 1-year target price among brokerages that have updated their coverage on the stock in the last year is $114.33.

BECN has been the topic of a number of recent research reports. Stephens lowered their target price on 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. Robert W. Baird lifted their target price on Beacon Roofing Supply from $115.00 to $120.00 and gave the company an “outperform” rating in a research report on Wednesday, October 16th. Finally, Royal Bank of Canada lowered their target price on Beacon Roofing Supply from $119.00 to $113.00 and set an “outperform” rating on the stock in a research report on Friday, August 2nd.

Insiders Place Their Bets

In related news, EVP Christopher Carl Nelson sold 1,627 shares of the business’s 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 sale, the executive vice president now directly owns 320 shares in the company, valued at $27,200. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, insider Jason L. Taylor sold 2,600 shares of the company’s stock in a transaction on Monday, October 7th. The stock was sold at an average price of $90.00, for a total transaction of $234,000.00. Following the completion of the sale, the insider now directly owns 9,131 shares in the company, valued at approximately $821,790. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Christopher Carl Nelson sold 1,627 shares of the company’s stock in a transaction on Friday, August 2nd. The shares were 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 trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 1.30% of the company’s stock.

Institutional Trading of Beacon Roofing Supply

Institutional investors have recently modified their holdings of the stock. Allspring Global Investments Holdings LLC bought a new stake in shares of Beacon Roofing Supply during the 1st quarter valued at $26,000. Blue Trust Inc. raised its holdings in shares of Beacon Roofing Supply by 222.1% during the 3rd quarter. Blue Trust Inc. now owns 306 shares of the company’s stock worth $28,000 after buying an additional 211 shares in the last quarter. PNC Financial Services Group Inc. raised its holdings in shares of Beacon Roofing Supply by 145.0% during the 4th quarter. PNC Financial Services Group Inc. now owns 343 shares of the company’s stock worth $30,000 after buying an additional 203 shares in the last quarter. Benjamin F. Edwards & Company Inc. raised its holdings in shares of Beacon Roofing Supply by 28.4% during the 1st quarter. Benjamin F. Edwards & Company Inc. now owns 525 shares of the company’s stock worth $52,000 after buying an additional 116 shares in the last quarter. Finally, GAMMA Investing LLC raised its holdings in shares of Beacon Roofing Supply by 154.0% during the 3rd quarter. GAMMA Investing LLC now owns 734 shares of the company’s stock worth $63,000 after buying an additional 445 shares in the last quarter. 98.45% of the stock is currently owned by institutional investors.

Beacon Roofing Supply Stock Performance

BECN opened at $92.38 on Friday. The business’s 50-day moving average price is $88.03 and its two-hundred day moving average price is $92.39. Beacon Roofing Supply has a 1 year low of $68.50 and a 1 year high of $105.42. The company has a market capitalization of $5.88 billion, a price-to-earnings ratio of -146.63 and a beta of 1.55. The company has a debt-to-equity ratio of 1.75, a current ratio of 1.90 and a quick ratio of 1.09.

Beacon Roofing Supply (NASDAQ:BECN) last released its quarterly earnings results on Thursday, August 1st. The company reported $2.32 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.79 by ($0.47). Beacon Roofing Supply had a net margin of 4.11% and a return on equity of 26.02%. The firm had revenue of $2.67 billion during the quarter, compared to analyst estimates of $2.69 billion. During the same period in the prior year, the business earned $2.66 EPS. The business’s revenue for the quarter was up 6.8% compared to the same quarter last year. Equities analysts expect that Beacon Roofing Supply will post 7.37 EPS for the current fiscal year.

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.