Beacon Roofing Supply (NASDAQ:BECN) PT Raised to $120.00

Beacon Roofing Supply (NASDAQ:BECN) had its price objective upped by research analysts at BMO Capital Markets from $95.00 to $120.00 in a note issued to investors on Thursday, Benzinga reports. The firm presently has an “outperform” rating on the stock. BMO Capital Markets’ target price would suggest a potential upside of 23.53% from the stock’s previous close.

Several other research firms also recently weighed in on BECN. JPMorgan Chase & Co. dropped their target price on Beacon Roofing Supply from $103.00 to $97.00 and set an “overweight” rating for the company in a research report on Thursday, January 11th. William Blair upgraded shares of Beacon Roofing Supply from a “market perform” rating to an “outperform” rating in a report on Monday, January 8th. Robert W. Baird raised shares of Beacon Roofing Supply from a “neutral” rating to an “outperform” rating and raised their price target for the company from $99.00 to $115.00 in a research report on Thursday, February 29th. StockNews.com lowered Beacon Roofing Supply from a “buy” rating to a “hold” rating in a research report on Monday, April 8th. Finally, Stifel Nicolaus lifted their target price on Beacon Roofing Supply from $115.00 to $119.00 and gave the company a “buy” rating in a report on Tuesday, December 19th. Three equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat, Beacon Roofing Supply currently has a consensus rating of “Moderate Buy” and an average target price of $100.00.

Beacon Roofing Supply Trading Down 0.7 %

Shares of BECN stock opened at $97.14 on Thursday. Beacon Roofing Supply has a 1-year low of $56.94 and a 1-year high of $102.83. The firm has a market cap of $6.16 billion, a PE ratio of -206.68, a price-to-earnings-growth ratio of 1.74 and a beta of 1.63. The company has a 50-day moving average of $90.52 and a two-hundred day moving average of $83.80. 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 posted its quarterly earnings data on Tuesday, February 27th. The company reported $1.47 earnings per share for the quarter, missing analysts’ consensus estimates 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 company had revenue of $2.30 billion for the quarter, compared to analysts’ expectations of $2.27 billion. During the same period in the previous year, the business posted $1.18 EPS. The business’s revenue for the quarter was up 16.8% on a year-over-year basis. On average, analysts predict that Beacon Roofing Supply will post 7.85 EPS for the current year.

Insider Activity

In other news, EVP Christopher Carl Nelson sold 3,268 shares of the business’s stock in a transaction dated 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 of the company’s stock, valued at approximately $16,521.12. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Beacon Roofing Supply news, insider Jason L. Taylor sold 1,805 shares of Beacon Roofing Supply stock in a transaction on Thursday, March 21st. The shares were sold at an average price of $95.00, for a total value of $171,475.00. Following the transaction, the insider now directly owns 10,531 shares in the company, valued at $1,000,445. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Christopher Carl Nelson sold 3,268 shares of the firm’s stock in a transaction dated Thursday, March 28th. The stock was sold at an average price of $93.87, for a total value of $306,767.16. Following the transaction, the executive vice president now directly owns 176 shares in the company, valued at approximately $16,521.12. The disclosure for this sale can be found here. Company insiders own 0.95% of the company’s stock.

Institutional Trading of Beacon Roofing Supply

A number of hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. raised its stake in shares of Beacon Roofing Supply by 9.6% during the fourth quarter. Vanguard Group Inc. now owns 6,165,267 shares of the company’s stock worth $536,502,000 after purchasing an additional 539,785 shares during the last quarter. BlackRock Inc. raised its position in Beacon Roofing Supply by 3.6% during the 2nd quarter. BlackRock Inc. now owns 3,645,889 shares of the company’s stock worth $302,536,000 after buying an additional 125,602 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its stake in shares of Beacon Roofing Supply by 4.0% in the 2nd quarter. Price T Rowe Associates Inc. MD now owns 2,806,283 shares of the company’s stock worth $144,131,000 after acquiring an additional 106,890 shares during the period. American Century Companies Inc. boosted its holdings in shares of Beacon Roofing Supply by 9.3% in the third quarter. American Century Companies Inc. now owns 2,734,447 shares of the company’s stock valued at $211,017,000 after acquiring an additional 233,393 shares in the last quarter. Finally, Frontier Capital Management Co. LLC increased its stake in shares of Beacon Roofing Supply by 17.3% during the fourth quarter. Frontier Capital Management Co. LLC now owns 2,126,533 shares of the company’s stock worth $185,051,000 after acquiring an additional 314,102 shares during the period. 98.45% of the stock is owned by institutional investors and hedge funds.

About Beacon Roofing Supply

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.