Beacon Roofing Supply (NASDAQ:BECN) Price Target Cut to $65.00 by Analysts at Robert W. Baird

Beacon Roofing Supply (NASDAQ:BECNGet Rating) had its target price decreased by Robert W. Baird from $67.00 to $65.00 in a research note issued to investors on Tuesday morning, Benzinga reports. Robert W. Baird currently has a neutral rating on the stock.

Several other analysts have also weighed in on the company. Stifel Nicolaus lifted their price objective on Beacon Roofing Supply from $80.00 to $91.00 and gave the stock a buy rating in a report on Monday, December 19th. Royal Bank of Canada decreased their price objective on Beacon Roofing Supply from $59.00 to $54.00 and set a sector perform rating on the stock in a report on Monday, November 7th. StockNews.com assumed coverage on Beacon Roofing Supply in a research report on Wednesday, October 12th. They set a hold rating for the company. Finally, Deutsche Bank Aktiengesellschaft raised their target price on Beacon Roofing Supply from $79.00 to $81.00 and gave the stock a buy rating in a research report on Tuesday, January 10th. Seven research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of Hold and an average target price of $65.63.

Beacon Roofing Supply Stock Performance

BECN opened at $55.26 on Tuesday. The firm has a market capitalization of $3.60 billion, a P/E ratio of 10.16 and a beta of 1.60. The stock’s 50 day moving average price is $55.68 and its two-hundred day moving average price is $56.30. The company has a quick ratio of 1.10, a current ratio of 1.92 and a debt-to-equity ratio of 1.01. Beacon Roofing Supply has a 12-month low of $45.71 and a 12-month high of $65.30.

Beacon Roofing Supply (NASDAQ:BECNGet Rating) last announced its quarterly earnings data on Thursday, November 3rd. The company reported $2.25 earnings per share for the quarter, topping the consensus estimate of $2.10 by $0.15. Beacon Roofing Supply had a return on equity of 31.40% and a net margin of 5.52%. The company had revenue of $2.42 billion for the quarter, compared to analyst estimates of $2.35 billion. On average, equities analysts forecast that Beacon Roofing Supply will post 7.05 earnings per share for the current year.

Insider Buying and Selling at Beacon Roofing Supply

In other Beacon Roofing Supply news, major shareholder Cd&R Investment Associates Ix, acquired 105,320 shares of the business’s stock in a transaction on Friday, October 28th. The stock was purchased at an average price of $56.97 per share, for a total transaction of $6,000,080.40. Following the transaction, the insider now owns 14,964,899 shares in the company, valued at approximately $852,550,296.03. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.95% of the company’s stock.

Hedge Funds Weigh In On Beacon Roofing Supply

Institutional investors have recently bought and sold shares of the business. Retirement Group LLC raised its position in Beacon Roofing Supply by 100.0% in the 2nd quarter. Retirement Group LLC now owns 548 shares of the company’s stock valued at $28,000 after purchasing an additional 274 shares during the last quarter. Bessemer Group Inc. increased its position in Beacon Roofing Supply by 298.6% in the third quarter. Bessemer Group Inc. now owns 1,120 shares of the company’s stock worth $62,000 after purchasing an additional 839 shares during the period. Advisor Group Holdings Inc. raised its holdings in Beacon Roofing Supply by 37.5% during the 1st quarter. Advisor Group Holdings Inc. now owns 1,101 shares of the company’s stock worth $65,000 after purchasing an additional 300 shares during the last quarter. DekaBank Deutsche Girozentrale acquired a new position in Beacon Roofing Supply during the 2nd quarter valued at about $67,000. Finally, Pictet Asset Management SA bought a new position in shares of Beacon Roofing Supply in the 3rd quarter valued at about $200,000.

Beacon Roofing Supply Company Profile

(Get Rating)

Beacon Roofing Supply, Inc engages in the distribution of residential and non-residential roofing materials. It also distributes complementary building products including siding, windows, specialty exterior building products, insulation, and waterproofing systems for building exteriors. The company was founded on August 22, 1997 and is headquartered in Herndon, VA.

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