Beacon Roofing Supply, Inc. (NASDAQ:BECN) Receives $111.30 Average Price Target from Brokerages

Beacon Roofing Supply, Inc. (NASDAQ:BECN) has been given an average recommendation of “Moderate Buy” by the ten brokerages that are currently covering the company, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a hold recommendation and eight have issued a buy recommendation on the company. The average 1 year price target among brokers that have updated their coverage on the stock in the last year is $111.30.

A number of equities research analysts have recently commented on BECN shares. Robert W. Baird lowered their price target on shares of Beacon Roofing Supply from $117.00 to $115.00 and set an “outperform” rating for the company in a report on Friday, August 2nd. Royal Bank of Canada cut their price target on Beacon Roofing Supply from $119.00 to $113.00 and set an “outperform” rating for the company in a report on Friday, August 2nd. Finally, Stephens decreased their price objective on Beacon Roofing Supply from $107.00 to $95.00 and set an “equal weight” rating on the stock in a report on Monday, August 5th.

Beacon Roofing Supply Price Performance

BECN stock opened at $86.43 on Tuesday. The stock’s 50 day moving average price is $87.97 and its 200 day moving average price is $92.84. The firm has a market cap of $5.50 billion, a P/E ratio of -137.19 and a beta of 1.55. The company has a debt-to-equity ratio of 1.75, a quick ratio of 1.09 and a current ratio of 1.90. Beacon Roofing Supply has a 1 year low of $68.50 and a 1 year high of $105.42.

Beacon Roofing Supply (NASDAQ:BECN) last posted its quarterly earnings data on Thursday, August 1st. The company reported $2.32 EPS for the quarter, missing analysts’ consensus estimates of $2.79 by ($0.47). Beacon Roofing Supply had a net margin of 4.11% and a return on equity of 26.02%. The company had revenue of $2.67 billion for the quarter, compared to analyst estimates of $2.69 billion. During the same period in the previous year, the business earned $2.66 EPS. The firm’s revenue was up 6.8% on a year-over-year basis. On average, sell-side analysts expect that Beacon Roofing Supply will post 7.39 earnings per share for the current fiscal year.

Insider Activity at Beacon Roofing Supply

In other Beacon Roofing Supply news, CFO Prithvi Gandhi acquired 5,000 shares of the firm’s stock in a transaction on Wednesday, August 7th. The stock was bought at an average cost of $82.29 per share, for a total transaction of $411,450.00. Following the completion of the purchase, the chief financial officer now directly owns 5,000 shares in the company, valued at $411,450. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, EVP Christopher Carl Nelson sold 1,627 shares of the firm’s stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $85.00, for a total transaction of $138,295.00. Following the sale, the executive vice president now directly owns 320 shares in the company, valued at approximately $27,200. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CFO Prithvi Gandhi purchased 5,000 shares of the firm’s stock in a transaction on Wednesday, August 7th. The stock was bought at an average price of $82.29 per share, with a total value of $411,450.00. Following the acquisition, the chief financial officer now owns 5,000 shares in the company, valued at $411,450. The disclosure for this purchase can be found here. 1.30% of the stock is currently owned by insiders.

Institutional Trading of Beacon Roofing Supply

A number of hedge funds have recently made changes to their positions in the company. Caprock Group LLC grew its holdings in Beacon Roofing Supply by 1.3% during the 1st quarter. Caprock Group LLC now owns 8,777 shares of the company’s stock valued at $860,000 after purchasing an additional 111 shares in the last quarter. Benjamin F. Edwards & Company Inc. grew 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 acquiring an additional 116 shares in the last quarter. Vanguard Personalized Indexing Management LLC increased its position in shares of Beacon Roofing Supply by 2.7% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 5,538 shares of the company’s stock worth $501,000 after acquiring an additional 147 shares during the last quarter. SummerHaven Investment Management LLC lifted its stake in shares of Beacon Roofing Supply by 1.8% in the second quarter. SummerHaven Investment Management LLC now owns 8,874 shares of the company’s stock worth $803,000 after acquiring an additional 156 shares in the last quarter. Finally, QRG Capital Management Inc. boosted its holdings 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 valued at $1,027,000 after purchasing an additional 157 shares during the last quarter. Hedge funds and other 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.