Beacon Roofing Supply, Inc. (NASDAQ:BECN) Receives Consensus Recommendation of “Hold” from Brokerages

Shares of Beacon Roofing Supply, Inc. (NASDAQ:BECN) have been given an average recommendation of “Hold” by the twelve analysts that are presently covering the stock, MarketBeat reports. Nine research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average 12-month target price among brokers that have issued a report on the stock in the last year is $124.78.

Several research analysts recently weighed in on the stock. Robert W. Baird upped their target price on shares of Beacon Roofing Supply from $120.00 to $124.00 and gave the stock an “outperform” rating in a report on Friday, February 28th. Stifel Nicolaus downgraded shares of Beacon Roofing Supply from a “buy” rating to a “hold” rating and dropped their target price for the stock from $131.00 to $122.55 in a report on Friday, February 7th. Raymond James cut shares of Beacon Roofing Supply from a “moderate buy” rating to a “hold” rating in a research note on Friday, March 21st. Baird R W cut shares of Beacon Roofing Supply from a “strong-buy” rating to a “hold” rating in a research note on Thursday, March 20th. Finally, Wall Street Zen assumed coverage on shares of Beacon Roofing Supply in a research note on Tuesday, May 20th. They issued a “sell” rating on the stock.

Insiders Place Their Bets

In other news, insider Jonathan Stuart Bennett sold 8,487 shares of the company’s stock in a transaction dated Monday, April 7th. The shares were sold at an average price of $122.14, for a total transaction of $1,036,602.18. Following the sale, the insider now directly owns 22,642 shares in the company, valued at approximately $2,765,493.88. This represents a 27.26% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Christopher Carl Nelson sold 16,595 shares of the company’s stock in a transaction dated Thursday, April 3rd. The shares were sold at an average price of $123.61, for a total transaction of $2,051,307.95. Following the sale, the executive vice president now owns 463 shares in the company, valued at $57,231.43. This represents a 97.29% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 54,806 shares of company stock worth $6,745,448 in the last 90 days. 1.30% of the stock is currently owned by corporate insiders.

Institutional Trading of Beacon Roofing Supply

Hedge funds have recently made changes to their positions in the business. Charles Schwab Investment Management Inc. raised its position in shares of Beacon Roofing Supply by 1.9% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 615,174 shares of the company’s stock valued at $62,489,000 after buying an additional 11,426 shares in the last quarter. Adage Capital Partners GP L.L.C. purchased a new stake in shares of Beacon Roofing Supply during the 4th quarter valued at about $11,185,000. Hsbc Holdings PLC grew its holdings in Beacon Roofing Supply by 188.8% during the 4th quarter. Hsbc Holdings PLC now owns 26,908 shares of the company’s stock valued at $2,741,000 after purchasing an additional 17,591 shares during the last quarter. Raymond James Financial Inc. purchased a new stake in Beacon Roofing Supply in the 4th quarter worth about $24,162,000. Finally, Barclays PLC raised its position in Beacon Roofing Supply by 272.0% in the 3rd quarter. Barclays PLC now owns 122,024 shares of the company’s stock worth $10,547,000 after purchasing an additional 89,222 shares during the period. 98.45% of the stock is currently owned by hedge funds and other institutional investors.

Beacon Roofing Supply Stock Performance

Shares of Beacon Roofing Supply stock opened at $124.17 on Friday. The company has a market capitalization of $7.67 billion, a P/E ratio of 21.23 and a beta of 1.31. The company has a debt-to-equity ratio of 1.60, a quick ratio of 1.14 and a current ratio of 1.91. The company has a fifty day moving average of $123.75 and a 200 day moving average of $116.40. Beacon Roofing Supply has a fifty-two week low of $77.54 and a fifty-two week high of $124.31.

Beacon Roofing Supply (NASDAQ:BECN) last issued its earnings results on Thursday, February 27th. The company reported $1.65 earnings per share for the quarter, missing the consensus estimate of $1.66 by ($0.01). The firm had revenue of $2.40 billion during the quarter, compared to the consensus estimate of $2.43 billion. Beacon Roofing Supply had a return on equity of 25.32% and a net margin of 3.86%. On average, sell-side analysts anticipate that Beacon Roofing Supply will post 7.22 earnings per share for the current fiscal year.

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.