Beacon Roofing Supply (NASDAQ:BECN) Reaches New 1-Year High at $97.28

Beacon Roofing Supply, Inc. (NASDAQ:BECN)’s stock price reached a new 52-week high during mid-day trading on Thursday . The stock traded as high as $97.28 and last traded at $96.95, with a volume of 517675 shares changing hands. The stock had previously closed at $95.05.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the company. StockNews.com raised Beacon Roofing Supply from a “hold” rating to a “buy” rating in a report on Wednesday, February 28th. JPMorgan Chase & Co. cut their price target on Beacon Roofing Supply from $103.00 to $97.00 and set an “overweight” rating for the company in a report on Thursday, January 11th. William Blair upgraded Beacon Roofing Supply from a “market perform” rating to an “outperform” rating in a research report on Monday, January 8th. Stifel Nicolaus boosted their price objective on Beacon Roofing Supply from $115.00 to $119.00 and gave the company a “buy” rating in a research report on Tuesday, December 19th. Finally, TheStreet upgraded Beacon Roofing Supply from a “c” rating to a “b-” rating in a research report on Tuesday, February 27th. Two research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $94.45.

Beacon Roofing Supply Trading Up 3.1 %

The business has a 50 day moving average price of $86.86 and a 200 day moving average price of $81.96. The company has a debt-to-equity ratio of 1.30, a quick ratio of 1.06 and a current ratio of 1.85.

Beacon Roofing Supply (NASDAQ:BECN) last released its earnings results on Tuesday, February 27th. The company reported $1.47 EPS for the quarter, missing analysts’ consensus estimates of $1.69 by ($0.22). The business had revenue of $2.30 billion for the quarter, compared to the consensus estimate of $2.27 billion. Beacon Roofing Supply had a net margin of 4.74% and a return on equity of 26.95%. The company’s quarterly revenue was up 16.8% compared to the same quarter last year. During the same period in the prior year, the company posted $1.18 EPS. As a group, equities research analysts predict that Beacon Roofing Supply, Inc. will post 7.87 earnings per share for the current year.

Insider Buying and Selling

In related news, insider Jason L. Taylor sold 1,805 shares of the 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 owns 10,531 shares of the company’s stock, valued at $1,000,445. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 0.95% of the stock is owned by insiders.

Institutional Trading of Beacon Roofing Supply

Hedge funds and other institutional investors have recently made changes to their positions in the business. Parkside Financial Bank & Trust purchased a new stake in shares of Beacon Roofing Supply during the 2nd quarter valued at $27,000. PNC Financial Services Group Inc. raised its stake in Beacon Roofing Supply by 145.0% in the 4th quarter. PNC Financial Services Group Inc. now owns 343 shares of the company’s stock worth $30,000 after acquiring an additional 203 shares during the last quarter. Quarry LP raised its stake in Beacon Roofing Supply by 127.1% in the 4th quarter. Quarry LP now owns 402 shares of the company’s stock worth $35,000 after acquiring an additional 225 shares during the last quarter. Benjamin F. Edwards & Company Inc. purchased a new position in Beacon Roofing Supply in the 4th quarter worth $36,000. Finally, Exchange Traded Concepts LLC raised its stake in Beacon Roofing Supply by 63.6% in the 3rd quarter. Exchange Traded Concepts LLC now owns 836 shares of the company’s stock worth $65,000 after acquiring an additional 325 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.