Shares of Beacon Roofing Supply, Inc. (NASDAQ:BECN) have received a consensus recommendation of “Buy” from the twelve brokerages that are currently covering the stock, Marketbeat.com reports. Five investment analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company. The average 1-year price objective among brokers that have issued ratings on the stock in the last year is $56.91.
BECN has been the topic of a number of research reports. Wells Fargo & Company initiated coverage on Beacon Roofing Supply in a research report on Wednesday, October 18th. They set a “market perform” rating and a $58.00 price target on the stock. Northcoast Research upgraded Beacon Roofing Supply from a “neutral” rating to a “buy” rating and set a $53.00 price target on the stock in a research report on Friday, August 25th. SunTrust Banks reiterated a “buy” rating on shares of Beacon Roofing Supply in a research report on Tuesday, September 12th. Royal Bank of Canada reiterated a “buy” rating and set a $53.00 price target on shares of Beacon Roofing Supply in a research report on Tuesday, October 10th. Finally, Jefferies Group upgraded Beacon Roofing Supply from a “hold” rating to a “buy” rating and increased their price target for the stock from $50.00 to $54.00 in a research report on Friday, August 25th.
In related news, CEO Paul Isabella sold 40,000 shares of the firm’s stock in a transaction that occurred on Monday, November 27th. The stock was sold at an average price of $60.57, for a total value of $2,422,800.00. Following the sale, the chief executive officer now directly owns 172,046 shares in the company, valued at approximately $10,420,826.22. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Ross D. Cooper sold 2,000 shares of the firm’s stock in a transaction that occurred on Tuesday, November 21st. The shares were sold at an average price of $59.75, for a total value of $119,500.00. Following the completion of the sale, the executive vice president now owns 7,056 shares in the company, valued at $421,596. The disclosure for this sale can be found here. 0.75% of the stock is currently owned by corporate insiders.
A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. increased its position in Beacon Roofing Supply by 1.0% in the 2nd quarter. Vanguard Group Inc. now owns 4,892,191 shares of the company’s stock valued at $239,718,000 after acquiring an additional 46,661 shares during the period. BlackRock Inc. increased its position in Beacon Roofing Supply by 1.2% in the 2nd quarter. BlackRock Inc. now owns 4,069,752 shares of the company’s stock valued at $199,416,000 after acquiring an additional 47,779 shares during the period. Dimensional Fund Advisors LP increased its position in Beacon Roofing Supply by 3.9% in the 3rd quarter. Dimensional Fund Advisors LP now owns 2,505,823 shares of the company’s stock valued at $128,424,000 after acquiring an additional 93,832 shares during the period. TimesSquare Capital Management LLC increased its position in Beacon Roofing Supply by 108.4% in the 3rd quarter. TimesSquare Capital Management LLC now owns 2,362,015 shares of the company’s stock valued at $121,053,000 after acquiring an additional 1,228,625 shares during the period. Finally, Lord Abbett & CO. LLC increased its position in Beacon Roofing Supply by 10.4% in the 2nd quarter. Lord Abbett & CO. LLC now owns 1,873,615 shares of the company’s stock valued at $91,807,000 after acquiring an additional 176,659 shares during the period.
Beacon Roofing Supply (NASDAQ BECN) traded down $0.07 during trading hours on Friday, reaching $61.95. The company’s stock had a trading volume of 542,722 shares, compared to its average volume of 531,681. The company has a current ratio of 2.06, a quick ratio of 1.35 and a debt-to-equity ratio of 0.42. Beacon Roofing Supply has a 52 week low of $39.57 and a 52 week high of $64.88. The company has a market cap of $4,190.00, a P/E ratio of 28.75, a PEG ratio of 0.81 and a beta of 1.49.
Beacon Roofing Supply (NASDAQ:BECN) last released its earnings results on Monday, November 20th. The company reported $0.93 EPS for the quarter, missing analysts’ consensus estimates of $0.94 by ($0.01). The firm had revenue of $1.29 billion for the quarter, compared to the consensus estimate of $1.26 billion. Beacon Roofing Supply had a return on equity of 9.09% and a net margin of 2.30%. The company’s quarterly revenue was up 9.8% on a year-over-year basis. During the same period in the prior year, the business earned $0.88 EPS. analysts anticipate that Beacon Roofing Supply will post 3.08 earnings per share for the current fiscal year.
About Beacon Roofing Supply
Beacon Roofing Supply, Inc is engaged in the distribution of residential and non-residential roofing materials in the United States and Canada. It also distributes complementary building products for residential and non-residential building exteriors. Its product portfolio includes residential roofing products, non-residential roofing products and complementary building products.
Receive News & Ratings for Beacon Roofing Supply Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Beacon Roofing Supply and related companies with MarketBeat.com's FREE daily email newsletter.