Beacon Roofing Supply, Inc. (NASDAQ:BECN) Receives Average Recommendation of “Hold” from Brokerages

Shares of Beacon Roofing Supply, Inc. (NASDAQ:BECN – Get Rating) have earned a consensus rating of “Hold” from the eleven analysts that are presently covering the company, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and one has assigned a buy rating to the company. The average twelve-month target price among brokers that have issued a report on the stock in the last year is $70.00.

A number of research firms have recently commented on BECN. Zelman & Associates cut shares of Beacon Roofing Supply from a “hold” rating to a “sell” rating in a research report on Friday, March 10th. Stephens reduced their target price on shares of Beacon Roofing Supply from $70.00 to $68.00 in a research report on Monday, May 8th. Deutsche Bank Aktiengesellschaft boosted their target price on shares of Beacon Roofing Supply from $85.00 to $86.00 in a research report on Friday, May 5th. StockNews.com began coverage on shares of Beacon Roofing Supply in a research report on Thursday, March 16th. They set a “hold” rating on the stock. Finally, Robert W. Baird boosted their target price on shares of Beacon Roofing Supply from $65.00 to $76.00 and gave the stock a “neutral” rating in a research report on Monday, February 27th.

Insider Activity at Beacon Roofing Supply

In related news, major shareholder Cd&R Investment Associates Ix, purchased 99,880 shares of the business’s stock in a transaction that occurred on Friday, April 28th. The shares were purchased at an average cost of $60.07 per share, with a total value of $5,999,791.60. Following the completion of the acquisition, the insider now directly owns 15,171,964 shares of the company’s stock, valued at approximately $911,379,877.48. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 1.30% of the stock is currently owned by corporate insiders.

Institutional Trading of Beacon Roofing Supply

Several institutional investors have recently added to or reduced their stakes in BECN. Sandy Spring Bank bought a new stake in Beacon Roofing Supply during the first quarter valued at $29,000. Mitsubishi UFJ Trust & Banking Corp bought a new stake in Beacon Roofing Supply during the first quarter valued at $29,000. Exchange Traded Concepts LLC bought a new stake in Beacon Roofing Supply during the first quarter valued at $36,000. Arcadia Investment Management Corp MI bought a new stake in Beacon Roofing Supply during the first quarter valued at $38,000. Finally, Ronald Blue Trust Inc. increased its stake in Beacon Roofing Supply by 34.4% during the first quarter. Ronald Blue Trust Inc. now owns 817 shares of the company’s stock valued at $43,000 after purchasing an additional 209 shares during the last quarter.

Beacon Roofing Supply Trading Up 3.0 %

Shares of BECN stock opened at $61.07 on Friday. The stock has a market cap of $3.89 billion, a price-to-earnings ratio of 11.74 and a beta of 1.57. The company has a quick ratio of 1.08, a current ratio of 2.03 and a debt-to-equity ratio of 1.01. Beacon Roofing Supply has a fifty-two week low of $45.71 and a fifty-two week high of $68.31. The firm’s 50 day moving average price is $59.15 and its two-hundred day moving average price is $57.88.

Beacon Roofing Supply (NASDAQ:BECN – Get Rating) last announced its quarterly earnings results on Thursday, February 23rd. The company reported $1.22 earnings per share for the quarter, beating analysts’ consensus estimates of $1.16 by $0.06. The firm had revenue of $1.97 billion for the quarter, compared to analysts’ expectations of $1.98 billion. Beacon Roofing Supply had a net margin of 5.01% and a return on equity of 27.91%. On average, analysts anticipate that Beacon Roofing Supply will post 6.2 EPS for the current year.

About Beacon Roofing Supply

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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.