Beacon Roofing Supply, Inc. (NASDAQ:BECN) Given Average Recommendation of “Moderate Buy” by Brokerages

Beacon Roofing Supply, Inc. (NASDAQ:BECNGet Free Report) has received an average rating of “Moderate Buy” from the twelve brokerages that are currently covering the firm, MarketBeat reports. Two analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. The average 12-month price objective among brokerages that have updated their coverage on the stock in the last year is $109.45.

A number of analysts have recently issued reports on the company. BMO Capital Markets lifted their price target on Beacon Roofing Supply from $95.00 to $120.00 and gave the company an “outperform” rating in a research report on Thursday, April 11th. JPMorgan Chase & Co. lifted their price target on Beacon Roofing Supply from $100.00 to $117.00 and gave the company an “overweight” rating in a research report on Tuesday. Robert W. Baird lifted their price target on Beacon Roofing Supply from $115.00 to $117.00 and gave the company an “outperform” rating in a research report on Friday, May 3rd. Loop Capital lifted their price target on Beacon Roofing Supply from $110.00 to $115.00 and gave the company a “buy” rating in a research report on Monday, April 1st. Finally, StockNews.com downgraded Beacon Roofing Supply from a “buy” rating to a “hold” rating in a research report on Monday, May 6th.

Check Out Our Latest Analysis on Beacon Roofing Supply

Beacon Roofing Supply Trading Down 0.7 %

Shares of Beacon Roofing Supply stock opened at $96.51 on Wednesday. Beacon Roofing Supply has a 1 year low of $63.42 and a 1 year high of $103.75. The firm has a market cap of $6.14 billion, a PE ratio of -153.19 and a beta of 1.59. The stock has a fifty day moving average price of $96.65 and a 200-day moving average price of $88.79. The company has a debt-to-equity ratio of 1.47, a current ratio of 1.87 and a quick ratio of 1.02.

Beacon Roofing Supply (NASDAQ:BECNGet Free Report) last announced its earnings results on Thursday, May 2nd. The company reported $0.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.35 by $0.06. Beacon Roofing Supply had a return on equity of 26.39% and a net margin of 4.47%. The firm had revenue of $1.91 billion during the quarter, compared to analyst estimates of $1.88 billion. Equities research analysts anticipate that Beacon Roofing Supply will post 7.8 EPS for the current year.

Insiders Place Their Bets

In other Beacon Roofing Supply news, 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 transaction, the insider now directly owns 10,531 shares of the company’s stock, valued at approximately $1,000,445. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available 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 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 transaction, the insider now directly owns 10,531 shares of the company’s stock, valued at approximately $1,000,445. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Christopher Carl Nelson sold 3,268 shares of Beacon Roofing Supply stock in a transaction that occurred 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 transaction, the executive vice president now directly owns 176 shares in the company, valued at $16,521.12. The disclosure for this sale can be found here. Insiders own 1.30% of the company’s stock.

Hedge Funds Weigh In On Beacon Roofing Supply

Several hedge funds have recently made changes to their positions in the business. Caprock Group LLC increased its stake in shares of Beacon Roofing Supply by 1.3% during the first quarter. Caprock Group LLC now owns 8,777 shares of the company’s stock valued at $860,000 after buying an additional 111 shares during the period. Benjamin F. Edwards & Company Inc. increased its stake in shares of Beacon Roofing Supply by 28.4% during the first quarter. Benjamin F. Edwards & Company Inc. now owns 525 shares of the company’s stock valued at $52,000 after buying an additional 116 shares during the period. Summit Trail Advisors LLC increased its stake in shares of Beacon Roofing Supply by 1.9% during the fourth quarter. Summit Trail Advisors LLC now owns 6,555 shares of the company’s stock valued at $570,000 after buying an additional 121 shares during the period. SummerHaven Investment Management LLC increased its stake in shares of Beacon Roofing Supply by 1.5% during the fourth quarter. SummerHaven Investment Management LLC now owns 8,607 shares of the company’s stock valued at $749,000 after buying an additional 129 shares during the period. Finally, QRG Capital Management Inc. grew its stake in Beacon Roofing Supply by 1.5% in the first quarter. QRG Capital Management Inc. now owns 10,475 shares of the company’s stock worth $1,027,000 after purchasing an additional 157 shares during the period. 98.45% of the stock is owned by hedge funds and other institutional investors.

Beacon Roofing Supply Company Profile

(Get Free Report

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.

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Analyst Recommendations for Beacon Roofing Supply (NASDAQ:BECN)

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