Truist Financial Boosts Beacon Roofing Supply (NASDAQ:BECN) Price Target to $95.00

Beacon Roofing Supply (NASDAQ:BECN) had its target price upped by Truist Financial from $90.00 to $95.00 in a research report released on Friday, Benzinga reports. Truist Financial currently has a hold rating on the stock.

A number of other brokerages also recently commented on BECN. Benchmark assumed coverage on shares of Beacon Roofing Supply in a report on Thursday, April 18th. They set a buy rating and a $135.00 price target for the company. Robert W. Baird boosted their price target on Beacon Roofing Supply from $115.00 to $117.00 and gave the company an outperform rating in a report on Friday. William Blair upgraded Beacon Roofing Supply from a market perform rating to an outperform rating in a report on Monday, January 8th. 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 note on Thursday, January 11th. Finally, StockNews.com raised Beacon Roofing Supply from a hold rating to a buy rating in a research note on Tuesday, April 16th. Two equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat.com, Beacon Roofing Supply presently has a consensus rating of Moderate Buy and a consensus price target of $104.33.

Beacon Roofing Supply Stock Down 1.7 %

Shares of NASDAQ BECN opened at $95.89 on Friday. 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 has a 12-month low of $57.01 and a 12-month high of $103.75. The company has a market capitalization of $6.08 billion, a PE ratio of -152.21 and a beta of 1.59. The firm’s 50-day moving average is $93.77 and its two-hundred day moving average is $86.11.

Beacon Roofing Supply (NASDAQ:BECN) last released its quarterly earnings results on Tuesday, February 27th. The company reported $1.47 earnings per share for the quarter, missing the consensus estimate of $1.69 by ($0.22). The company had revenue of $2.30 billion for the quarter, compared to analysts’ expectations of $2.27 billion. Beacon Roofing Supply had a return on equity of 26.31% and a net margin of 4.47%. The business’s quarterly revenue was up 16.8% on a year-over-year basis. During the same period in the previous year, the business posted $1.18 EPS. Equities analysts anticipate that Beacon Roofing Supply will post 7.78 EPS for the current fiscal year.

Insider Buying and Selling

In other Beacon Roofing Supply news, EVP Christopher Carl Nelson sold 3,268 shares of the firm’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 completion of the transaction, the executive vice president now directly owns 176 shares of the company’s stock, valued at approximately $16,521.12. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Beacon Roofing Supply news, EVP Christopher Carl Nelson sold 3,268 shares of the company’s stock in a transaction that occurred on Thursday, March 28th. The stock was sold at an average price of $93.87, for a total transaction of $306,767.16. Following the sale, the executive vice president now owns 176 shares in the company, valued at $16,521.12. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Jason L. Taylor sold 1,805 shares of Beacon Roofing Supply stock in a transaction that occurred 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 transaction, the insider now owns 10,531 shares of the company’s stock, valued at approximately $1,000,445. The disclosure for this sale can be found here. Insiders own 1.30% of the company’s stock.

Institutional Trading of Beacon Roofing Supply

Institutional investors have recently added to or reduced their stakes in the business. Vaughan Nelson Investment Management L.P. boosted its holdings in shares of Beacon Roofing Supply by 4.3% in the 4th quarter. Vaughan Nelson Investment Management L.P. now owns 662,657 shares of the company’s stock valued at $57,665,000 after buying an additional 27,185 shares during the period. Deutsche Bank AG boosted its stake in Beacon Roofing Supply by 25.2% in the third quarter. Deutsche Bank AG now owns 30,866 shares of the company’s stock valued at $2,382,000 after acquiring an additional 6,210 shares during the period. Teacher Retirement System of Texas grew its holdings in shares of Beacon Roofing Supply by 80.2% during the third quarter. Teacher Retirement System of Texas now owns 26,584 shares of the company’s stock valued at $2,051,000 after purchasing an additional 11,828 shares during the last quarter. Qube Research & Technologies Ltd acquired a new stake in shares of Beacon Roofing Supply during the 3rd quarter worth approximately $6,442,000. Finally, Hsbc Holdings PLC raised its position in shares of Beacon Roofing Supply by 145.5% during the 3rd quarter. Hsbc Holdings PLC now owns 75,186 shares of the company’s stock worth $5,834,000 after purchasing an additional 44,564 shares during the period. 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.