Beacon Roofing Supply, Inc. (NASDAQ:BECN) Receives Average Rating of “Moderate Buy” from Analysts

Shares of Beacon Roofing Supply, Inc. (NASDAQ:BECN) have been assigned a consensus recommendation of “Moderate Buy” from the twelve ratings firms that are presently covering the company, Marketbeat Ratings reports. Two analysts have rated the stock with a hold rating and ten have given a buy rating to the company. The average 12-month target price among brokerages that have updated their coverage on the stock in the last year is $102.92.

Several analysts have recently commented on the stock. Loop Capital increased their price target on shares of Beacon Roofing Supply from $110.00 to $115.00 and gave the company a “buy” rating in a research report on Monday, April 1st. BMO Capital Markets upped their price objective on shares of Beacon Roofing Supply from $95.00 to $120.00 and gave the company an “outperform” rating in a research note on Thursday, April 11th. Robert W. Baird raised shares of Beacon Roofing Supply from a “neutral” rating to an “outperform” rating and upped their price objective for the company from $99.00 to $115.00 in a research note on Thursday, February 29th. Benchmark assumed coverage on shares of Beacon Roofing Supply in a research note on Thursday, April 18th. They set a “buy” rating and a $135.00 price objective on the stock. Finally, William Blair raised shares of Beacon Roofing Supply from a “market perform” rating to an “outperform” rating in a research note on Monday, January 8th.

Insiders Place Their Bets

In other news, EVP Christopher Carl Nelson sold 3,268 shares of the stock in a transaction on Thursday, March 28th. The shares were 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 owns 176 shares of the company’s stock, valued at $16,521.12. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other news, EVP Christopher Carl Nelson sold 3,268 shares of the stock in a transaction on Thursday, March 28th. The shares were 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 owns 176 shares of the company’s stock, valued at $16,521.12. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Jason L. Taylor sold 1,805 shares of the stock in a transaction on Thursday, March 21st. The stock was sold at an average price of $95.00, for a total transaction of $171,475.00. Following the completion of the sale, the insider now directly owns 10,531 shares of the company’s stock, valued at approximately $1,000,445. The disclosure for this sale can be found here. 1.30% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Beacon Roofing Supply

Large investors have recently made changes to their positions in the business. Allspring Global Investments Holdings LLC purchased a new stake in Beacon Roofing Supply during the 1st quarter worth $26,000. PNC Financial Services Group Inc. increased its stake in Beacon Roofing Supply by 145.0% during the 4th quarter. PNC Financial Services Group Inc. now owns 343 shares of the company’s stock worth $30,000 after buying an additional 203 shares during the period. Quarry LP increased its stake in Beacon Roofing Supply by 127.1% during the 4th quarter. Quarry LP now owns 402 shares of the company’s stock worth $35,000 after buying an additional 225 shares during the period. Benjamin F. Edwards & Company Inc. purchased a new stake in Beacon Roofing Supply during the 4th quarter worth $36,000. Finally, Parkside Financial Bank & Trust increased its stake in Beacon Roofing Supply by 49.4% during the 3rd quarter. Parkside Financial Bank & Trust now owns 487 shares of the company’s stock worth $38,000 after buying an additional 161 shares during the period. Institutional investors and hedge funds own 98.45% of the company’s stock.

Beacon Roofing Supply Stock Up 1.5 %

BECN stock opened at $99.00 on Friday. The company’s 50 day simple moving average is $92.31 and its 200-day simple moving average is $85.00. The firm has a market capitalization of $6.28 billion, a PE ratio of -210.64 and a beta of 1.63. Beacon Roofing Supply has a 12 month low of $57.01 and a 12 month high of $102.83. 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 released its quarterly 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). The business had revenue of $2.30 billion during 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 firm’s revenue for the quarter was up 16.8% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.18 earnings per share. Equities analysts expect that Beacon Roofing Supply will post 7.8 earnings per share for the current fiscal year.

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.