Brokerages Set Beacon Roofing Supply, Inc. (NASDAQ:BECN) Target Price at $102.92

Shares of Beacon Roofing Supply, Inc. (NASDAQ:BECN) have received an average recommendation of “Moderate Buy” from the twelve research firms that are currently covering the firm, Marketbeat reports. Two investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. The average 1 year price objective among analysts that have issued a report on the stock in the last year is $104.33.

Several analysts recently issued reports on the stock. TheStreet raised shares of Beacon Roofing Supply from a “c” rating to a “b-” rating in a report on Tuesday, February 27th. Truist Financial upped their target price on shares of Beacon Roofing Supply from $90.00 to $95.00 and gave the company a “hold” rating in a research note on Friday. William Blair upgraded shares of Beacon Roofing Supply from a “market perform” rating to an “outperform” rating in a research note on Monday, January 8th. StockNews.com raised Beacon Roofing Supply from a “hold” rating to a “buy” rating in a research report on Tuesday, April 16th. Finally, JPMorgan Chase & Co. cut their price target on Beacon Roofing Supply from $103.00 to $97.00 and set an “overweight” rating for the company in a report on Thursday, January 11th.

Insider Buying and Selling at Beacon Roofing Supply

In other news, EVP Christopher Carl Nelson sold 3,268 shares of the firm’s stock in a transaction on Thursday, March 28th. The stock was sold at an average price of $93.87, for a total value of $306,767.16. Following the completion of the sale, the executive vice president now directly owns 176 shares in the company, valued at $16,521.12. The sale was disclosed in a filing with the SEC, which is accessible through this link. In other news, EVP Christopher Carl Nelson sold 3,268 shares of the company’s stock in a transaction that occurred on Thursday, March 28th. The shares were sold at an average price of $93.87, for a total transaction of $306,767.16. Following the transaction, the executive vice president now directly owns 176 shares in the company, valued at $16,521.12. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Jason L. Taylor sold 1,805 shares of the stock in a transaction that occurred on Thursday, March 21st. The shares were sold at an average price of $95.00, for a total transaction of $171,475.00. Following the sale, the insider now directly owns 10,531 shares in the company, valued at $1,000,445. The disclosure for this sale can be found here. Corporate insiders own 1.30% of the company’s stock.

Institutional Investors Weigh In On Beacon Roofing Supply

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Daiwa Securities Group Inc. bought a new position in Beacon Roofing Supply in the first quarter valued at about $118,000. Iridian Asset Management LLC CT boosted its stake in shares of Beacon Roofing Supply by 3.8% in the 1st quarter. Iridian Asset Management LLC CT now owns 58,618 shares of the company’s stock valued at $5,746,000 after purchasing an additional 2,132 shares during the last quarter. Capstone Investment Advisors LLC acquired a new stake in shares of Beacon Roofing Supply during the 1st quarter worth approximately $1,664,000. Caprock Group LLC grew its position in shares of Beacon Roofing Supply by 1.3% during the 1st quarter. Caprock Group LLC now owns 8,777 shares of the company’s stock worth $860,000 after buying an additional 111 shares during the period. Finally, Allspring Global Investments Holdings LLC bought a new stake in shares of Beacon Roofing Supply during the first quarter worth approximately $26,000. Institutional investors own 98.45% of the company’s stock.

Beacon Roofing Supply Trading Down 1.7 %

Beacon Roofing Supply stock opened at $95.89 on Friday. Beacon Roofing Supply has a one year low of $57.01 and a one year high of $103.75. The company’s fifty day moving average price is $93.77 and its two-hundred day moving average price is $85.92. The company has a market capitalization of $6.08 billion, a price-to-earnings ratio of -204.02 and a beta of 1.59. The company has a debt-to-equity ratio of 1.30, a current ratio of 1.85 and a quick ratio of 1.06.

Beacon Roofing Supply (NASDAQ:BECN) last issued its quarterly earnings data on Tuesday, February 27th. The company reported $1.47 EPS for the quarter, missing analysts’ consensus estimates of $1.69 by ($0.22). The company had revenue of $2.30 billion for the quarter, compared to analyst estimates of $2.27 billion. Beacon Roofing Supply had a net margin of 4.74% and a return on equity of 26.95%. The business’s revenue was up 16.8% on a year-over-year basis. During the same period in the prior year, the company posted $1.18 EPS. On average, analysts forecast that Beacon Roofing Supply will post 7.8 earnings per share 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.