Beacon Roofing Supply (NASDAQ:BECN) Given New $115.00 Price Target at Loop Capital

Beacon Roofing Supply (NASDAQ:BECNGet Free Report) had its price objective increased by Loop Capital from $110.00 to $115.00 in a report released on Monday, Benzinga reports. The firm presently has a “buy” rating on the stock. Loop Capital’s price target suggests a potential upside of 14.97% from the company’s previous close.

Several other equities research analysts have also recently commented on BECN. TheStreet raised Beacon Roofing Supply from a “c” rating to a “b-” rating in a report on Tuesday, February 27th. Stifel Nicolaus upped their price target on Beacon Roofing Supply from $115.00 to $119.00 and gave the company a “buy” rating in a report on Tuesday, December 19th. StockNews.com raised Beacon Roofing Supply from a “hold” rating to a “buy” rating in a report on Wednesday, February 28th. JPMorgan Chase & Co. dropped their price target on Beacon Roofing Supply from $103.00 to $97.00 and set an “overweight” rating on the stock in a report on Thursday, January 11th. Finally, William Blair raised Beacon Roofing Supply from a “market perform” rating to an “outperform” rating in a report on Monday, January 8th. Two investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $97.27.

Read Our Latest Analysis on Beacon Roofing Supply

Beacon Roofing Supply Price Performance

Shares of NASDAQ:BECN opened at $100.03 on Monday. Beacon Roofing Supply has a 12 month low of $54.60 and a 12 month high of $100.53. The stock has a market cap of $6.34 billion, a price-to-earnings ratio of -212.83, a PEG ratio of 1.72 and a beta of 1.63. The stock’s 50 day moving average price is $87.97 and its 200 day moving average price is $82.58. 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:BECNGet Free Report) last announced its earnings results on Tuesday, February 27th. The company reported $1.47 EPS for the quarter, missing the consensus estimate of $1.69 by ($0.22). Beacon Roofing Supply had a return on equity of 26.95% and a net margin of 4.74%. The firm had revenue of $2.30 billion for the quarter, compared to the consensus estimate of $2.27 billion. During the same period in the previous year, the firm earned $1.18 EPS. Beacon Roofing Supply’s revenue for the quarter was up 16.8% on a year-over-year basis. Equities research analysts anticipate that Beacon Roofing Supply will post 7.87 earnings per share for the current fiscal year.

Insider Buying and Selling at Beacon Roofing Supply

In other Beacon Roofing Supply news, insider Jason L. Taylor sold 1,805 shares of the business’s stock in a transaction 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 of the company’s stock, valued at approximately $1,000,445. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, insider Jason L. Taylor sold 1,805 shares of the business’s stock in a transaction 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 transaction, the insider now directly owns 10,531 shares in the company, valued at approximately $1,000,445. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP Christopher Carl Nelson sold 3,268 shares of the business’s stock in a transaction 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 owns 176 shares in the company, valued at $16,521.12. The disclosure for this sale can be found here. Company insiders own 1.30% of the company’s stock.

Hedge Funds Weigh In On Beacon Roofing Supply

Institutional investors and hedge funds have recently modified their holdings of the stock. Parkside Financial Bank & Trust bought a new stake in Beacon Roofing Supply in the second quarter worth $27,000. PNC Financial Services Group Inc. boosted its holdings in Beacon Roofing Supply by 145.0% in the fourth quarter. PNC Financial Services Group Inc. now owns 343 shares of the company’s stock worth $30,000 after purchasing an additional 203 shares in the last quarter. Quarry LP boosted its holdings in Beacon Roofing Supply by 127.1% in the fourth quarter. Quarry LP now owns 402 shares of the company’s stock worth $35,000 after purchasing an additional 225 shares in the last quarter. Benjamin F. Edwards & Company Inc. bought a new stake in Beacon Roofing Supply in the fourth quarter worth $36,000. Finally, Exchange Traded Concepts LLC boosted its holdings in Beacon Roofing Supply by 63.6% in the third quarter. Exchange Traded Concepts LLC now owns 836 shares of the company’s stock worth $65,000 after purchasing an additional 325 shares in the last quarter. 98.45% of the stock is currently owned by hedge funds and other institutional investors.

Beacon Roofing Supply Company Profile

(Get Free Report)

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.

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