Beacon Roofing Supply, Inc. (NASDAQ:BECN) has received an average recommendation of “Hold” from the twenty analysts that are covering the stock, Marketbeat reports. Two investment analysts have rated the stock with a sell recommendation, ten have issued a hold recommendation and seven have given a buy recommendation to the company. The average 12 month target price among brokers that have covered the stock in the last year is $38.79.
BECN has been the topic of a number of analyst reports. BidaskClub cut Beacon Roofing Supply from a “sell” rating to a “strong sell” rating in a research report on Tuesday, November 13th. Raymond James set a $45.00 price target on Beacon Roofing Supply and gave the stock a “buy” rating in a research report on Thursday, October 25th. Wedbush reissued an “outperform” rating and issued a $50.00 price target on shares of Beacon Roofing Supply in a research report on Thursday, August 23rd. SunTrust Banks dropped their price target on Beacon Roofing Supply to $38.00 and set a “buy” rating on the stock in a research report on Tuesday, November 20th. Finally, Stephens reissued a “buy” rating and issued a $40.00 price target on shares of Beacon Roofing Supply in a research report on Friday, November 23rd.
Beacon Roofing Supply stock traded up $0.03 during trading hours on Friday, hitting $33.00. 1,370,334 shares of the stock traded hands, compared to its average volume of 1,117,640. The company has a debt-to-equity ratio of 1.38, a quick ratio of 0.97 and a current ratio of 1.59. The stock has a market cap of $2.25 billion, a price-to-earnings ratio of 12.22, a PEG ratio of 0.55 and a beta of 1.48. Beacon Roofing Supply has a one year low of $24.97 and a one year high of $66.47.
Beacon Roofing Supply (NASDAQ:BECN) last posted its quarterly earnings data on Monday, November 19th. The company reported $1.07 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.36 by ($0.29). Beacon Roofing Supply had a net margin of 1.54% and a return on equity of 11.23%. The firm had revenue of $1.94 billion for the quarter, compared to the consensus estimate of $2.01 billion. During the same period in the previous year, the firm posted $0.93 earnings per share. The business’s revenue was up 50.4% compared to the same quarter last year. On average, analysts predict that Beacon Roofing Supply will post 3.14 earnings per share for the current year.
In other Beacon Roofing Supply news, EVP Christopher Anthony Harrison acquired 4,750 shares of the stock in a transaction that occurred on Wednesday, November 21st. The shares were acquired at an average cost of $31.40 per share, with a total value of $149,150.00. Following the transaction, the executive vice president now owns 19,280 shares of the company’s stock, valued at approximately $605,392. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Paul Isabella acquired 3,200 shares of the stock in a transaction that occurred on Wednesday, November 21st. The stock was acquired at an average cost of $31.76 per share, for a total transaction of $101,632.00. Following the completion of the transaction, the chief executive officer now directly owns 143,459 shares in the company, valued at approximately $4,556,257.84. The disclosure for this purchase can be found here. Insiders purchased a total of 23,625 shares of company stock worth $753,469 over the last ninety days. 0.77% of the stock is currently owned by insiders.
Hedge funds have recently added to or reduced their stakes in the stock. Jane Street Group LLC bought a new position in Beacon Roofing Supply in the 2nd quarter valued at approximately $226,000. Cim Investment Mangement Inc. purchased a new stake in Beacon Roofing Supply during the 3rd quarter valued at $205,000. Eqis Capital Management Inc. purchased a new stake in Beacon Roofing Supply during the 2nd quarter valued at $261,000. CIBC World Markets Inc. purchased a new stake in Beacon Roofing Supply during the 2nd quarter valued at $277,000. Finally, Greenwood Capital Associates LLC raised its stake in Beacon Roofing Supply by 32.4% during the 2nd quarter. Greenwood Capital Associates LLC now owns 6,599 shares of the company’s stock valued at $281,000 after buying an additional 1,613 shares during the last quarter.
About Beacon Roofing Supply
Beacon Roofing Supply, Inc, together with its subsidiaries, distributes residential and commercial roofing materials, and other complementary building materials to contractors, home builders, retailers, and building materials suppliers. The company's residential roofing products include asphalt shingles, synthetic slates and tiles, clay and concrete tiles, slates, nail base insulations, metal roofing, felts, synthetic underlayment, wood shingles and shakes, nails and fasteners, metal edgings and flashings, prefabricated flashings, ridges and soffit vents, and solar systems.
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