Zacks Research Has Bearish Forecast for BECN FY2024 Earnings

Beacon Roofing Supply, Inc. (NASDAQ:BECN) – Stock analysts at Zacks Research lowered their FY2024 earnings estimates for Beacon Roofing Supply in a research report issued on Wednesday, November 13th. Zacks Research analyst S. Mukherjee now forecasts that the company will post earnings of $7.23 per share for the year, down from their prior forecast of $7.41. The consensus estimate for Beacon Roofing Supply’s current full-year earnings is $7.25 per share. Zacks Research also issued estimates for Beacon Roofing Supply’s Q3 2025 earnings at $2.99 EPS and Q3 2026 earnings at $3.11 EPS.

Other equities analysts also recently issued research reports about the stock. Stephens reissued an “equal weight” rating and set a $103.00 price target on shares of Beacon Roofing Supply in a report on Tuesday. JPMorgan Chase & Co. lifted their price objective on shares of Beacon Roofing Supply from $119.00 to $136.00 and gave the company an “overweight” rating in a research note on Tuesday. Robert W. Baird lifted their price objective on shares of Beacon Roofing Supply from $115.00 to $120.00 and gave the company an “outperform” rating in a research note on Wednesday, October 16th. Royal Bank of Canada lifted their price objective on shares of Beacon Roofing Supply from $113.00 to $114.00 and gave the company an “outperform” rating in a research note on Friday, November 1st. Finally, Benchmark restated a “buy” rating and set a $140.00 price objective on shares of Beacon Roofing Supply in a research note on Friday, November 1st. Three equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat.com, Beacon Roofing Supply has a consensus rating of “Moderate Buy” and an average price target of $118.00.

Beacon Roofing Supply Stock Performance

Shares of BECN opened at $109.24 on Monday. Beacon Roofing Supply has a 1 year low of $77.54 and a 1 year high of $116.30. The company has a market cap of $6.76 billion, a price-to-earnings ratio of 18.67 and a beta of 1.54. The company has a debt-to-equity ratio of 1.60, a quick ratio of 1.14 and a current ratio of 1.91. The firm has a fifty day moving average of $92.73 and a 200-day moving average of $92.60.

Institutional Trading of Beacon Roofing Supply

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its holdings in Beacon Roofing Supply by 14.1% during the first quarter. Vanguard Group Inc. now owns 7,037,483 shares of the company’s stock worth $689,814,000 after buying an additional 872,216 shares during the last quarter. FMR LLC increased its position in shares of Beacon Roofing Supply by 17.6% during the 3rd quarter. FMR LLC now owns 6,435,880 shares of the company’s stock worth $556,253,000 after purchasing an additional 963,633 shares during the last quarter. State Street Corp increased its position in shares of Beacon Roofing Supply by 1.1% during the 3rd quarter. State Street Corp now owns 1,471,500 shares of the company’s stock worth $127,182,000 after purchasing an additional 15,505 shares during the last quarter. Boston Partners increased its holdings in shares of Beacon Roofing Supply by 79.6% during the 1st quarter. Boston Partners now owns 1,285,239 shares of the company’s stock worth $126,082,000 after acquiring an additional 569,627 shares during the last quarter. Finally, Fisher Asset Management LLC increased its holdings in shares of Beacon Roofing Supply by 0.3% during the 3rd quarter. Fisher Asset Management LLC now owns 993,715 shares of the company’s stock worth $85,887,000 after acquiring an additional 2,607 shares during the last quarter. 98.45% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, insider Jason L. Taylor sold 2,600 shares of the stock in a transaction that occurred on Monday, October 7th. The stock was sold at an average price of $90.00, for a total value of $234,000.00. Following the completion of the sale, the insider now directly owns 9,131 shares of the company’s stock, valued at approximately $821,790. This represents a 22.16 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Clement Munroe Best III sold 5,637 shares of the stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $100.47, for a total value of $566,349.39. Following the completion of the sale, the insider now directly owns 69,514 shares of the company’s stock, valued at $6,984,071.58. This represents a 7.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 15,274 shares of company stock worth $1,526,146. Insiders own 1.30% of the company’s stock.

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.