Beacon Roofing Supply (NASDAQ:BECN) PT Raised to $117.00 at Robert W. Baird

Beacon Roofing Supply (NASDAQ:BECN) had its price target lifted by stock analysts at Robert W. Baird from $115.00 to $117.00 in a research report issued to clients and investors on Friday, Benzinga reports. The firm currently has an “outperform” rating on the stock. Robert W. Baird’s price objective points to a potential upside of 22.01% from the stock’s current price.

Other research analysts have also recently issued research reports about the company. JPMorgan Chase & Co. decreased their price target on Beacon Roofing Supply from $103.00 to $97.00 and set an “overweight” rating for the company in a research note on Thursday, January 11th. Loop Capital raised their target price on shares of Beacon Roofing Supply from $110.00 to $115.00 and gave the company a “buy” rating in a research note on Monday, April 1st. BMO Capital Markets upped their price target on shares of Beacon Roofing Supply from $95.00 to $120.00 and gave the stock an “outperform” rating in a research note on Thursday, April 11th. StockNews.com upgraded shares of Beacon Roofing Supply from a “hold” rating to a “buy” rating in a research note on Tuesday, April 16th. Finally, TheStreet raised Beacon Roofing Supply from a “c” rating to a “b-” rating in a report on Tuesday, February 27th. Two investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $104.33.

Beacon Roofing Supply Trading Down 1.7 %

Shares of NASDAQ:BECN opened at $95.89 on Friday. The company has a quick ratio of 1.06, a current ratio of 1.85 and a debt-to-equity ratio of 1.30. The company’s 50-day moving average price is $93.77 and its 200 day moving average price is $86.01. The company has a market cap of $6.08 billion, a PE ratio of -152.21 and a beta of 1.59. Beacon Roofing Supply has a fifty-two week low of $57.01 and a fifty-two week high of $103.75.

Beacon Roofing Supply (NASDAQ:BECN) last announced 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). Beacon Roofing Supply had a net margin of 4.47% and a return on equity of 26.31%. The firm had revenue of $2.30 billion during the quarter, compared to analyst estimates of $2.27 billion. During the same quarter in the previous year, the business posted $1.18 EPS. Beacon Roofing Supply’s revenue for the quarter was up 16.8% compared to the same quarter last year. Sell-side analysts anticipate that Beacon Roofing Supply will post 7.8 earnings per share for the current year.

Insiders Place Their Bets

In other news, EVP Christopher Carl Nelson sold 3,268 shares of Beacon Roofing Supply stock in a transaction that occurred 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 transaction, the executive vice president now directly owns 176 shares of the company’s stock, valued at $16,521.12. The transaction was disclosed in a legal filing with the SEC, which is accessible 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 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 owns 176 shares in the company, valued at $16,521.12. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Jason L. Taylor sold 1,805 shares of the firm’s stock in a transaction on Thursday, March 21st. The stock was sold at an average price of $95.00, for a total value 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. Corporate insiders own 1.30% of the company’s stock.

Hedge Funds Weigh In On Beacon Roofing Supply

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Caprock Group LLC boosted its holdings in Beacon Roofing Supply by 1.3% in the first quarter. Caprock Group LLC now owns 8,777 shares of the company’s stock worth $860,000 after purchasing an additional 111 shares in the last quarter. Benjamin F. Edwards & Company Inc. boosted its stake in shares of Beacon Roofing Supply by 28.4% during the 1st quarter. Benjamin F. Edwards & Company Inc. now owns 525 shares of the company’s stock worth $52,000 after acquiring an additional 116 shares in the last quarter. Summit Trail Advisors LLC boosted its stake in shares of Beacon Roofing Supply by 1.9% during the 4th quarter. Summit Trail Advisors LLC now owns 6,555 shares of the company’s stock worth $570,000 after acquiring an additional 121 shares in the last quarter. SummerHaven Investment Management LLC increased its holdings in shares of Beacon Roofing Supply by 1.5% during the 4th quarter. SummerHaven Investment Management LLC now owns 8,607 shares of the company’s stock valued at $749,000 after acquiring an additional 129 shares during the last quarter. Finally, Parkside Financial Bank & Trust raised its stake in shares of Beacon Roofing Supply by 49.4% in the 3rd quarter. Parkside Financial Bank & Trust now owns 487 shares of the company’s stock valued at $38,000 after acquiring an additional 161 shares in the last quarter. Institutional investors own 98.45% of the company’s stock.

Beacon Roofing Supply Company Profile

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.