Brokerages Set Beacon Roofing Supply, Inc. (NASDAQ:BECN) Price Target at $102.92

Beacon Roofing Supply, Inc. (NASDAQ:BECN) has earned a consensus rating of “Moderate Buy” from the twelve research firms that are presently covering the stock, MarketBeat reports. Two investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company. The average 1 year price target among analysts that have updated their coverage on the stock in the last year is $102.92.

Several research analysts have commented on BECN shares. William Blair upgraded Beacon Roofing Supply from a “market perform” rating to an “outperform” rating in a research note on Monday, January 8th. StockNews.com upgraded Beacon Roofing Supply from a “hold” rating to a “buy” rating in a research note on Tuesday, April 16th. TheStreet upgraded Beacon Roofing Supply from a “c” rating to a “b-” rating in a research note on Tuesday, February 27th. JPMorgan Chase & Co. cut their target price on Beacon Roofing Supply from $103.00 to $97.00 and set an “overweight” rating for the company in a research note on Thursday, January 11th. Finally, Robert W. Baird raised Beacon Roofing Supply from a “neutral” rating to an “outperform” rating and raised their price target for the company from $99.00 to $115.00 in a report on Thursday, February 29th.

Insider Buying and Selling

In related news, EVP Christopher Carl Nelson sold 3,268 shares of the business’s 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 sale, the executive vice president now owns 176 shares in the company, valued at approximately $16,521.12. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other Beacon Roofing Supply news, EVP Christopher Carl Nelson sold 3,268 shares of the business’s 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 sale, the executive vice president now owns 176 shares in the company, valued at $16,521.12. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Jason L. Taylor sold 1,805 shares of the business’s stock in a transaction that occurred on Thursday, March 21st. The shares were sold at an average price of $95.00, for a total value of $171,475.00. Following the completion of the sale, the insider now owns 10,531 shares of the company’s stock, valued at approximately $1,000,445. The disclosure for this sale can be found here. 1.30% of the stock is currently owned by corporate insiders.

Institutional Trading of Beacon Roofing Supply

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Allspring Global Investments Holdings LLC purchased a new position in shares of Beacon Roofing Supply during the first quarter valued at approximately $26,000. PNC Financial Services Group Inc. increased its stake in shares of Beacon Roofing Supply by 145.0% during the fourth quarter. PNC Financial Services Group Inc. now owns 343 shares of the company’s stock valued at $30,000 after buying an additional 203 shares during the period. Quarry LP increased its stake in shares of Beacon Roofing Supply by 127.1% during the fourth quarter. Quarry LP now owns 402 shares of the company’s stock valued at $35,000 after buying an additional 225 shares during the period. Benjamin F. Edwards & Company Inc. purchased a new position in shares of Beacon Roofing Supply during the fourth quarter valued at approximately $36,000. Finally, Parkside Financial Bank & Trust increased its stake in shares of Beacon Roofing Supply by 49.4% during the third quarter. Parkside Financial Bank & Trust now owns 487 shares of the company’s stock valued at $38,000 after buying an additional 161 shares during the period. Institutional investors own 98.45% of the company’s stock.

Beacon Roofing Supply Stock Down 1.6 %

BECN stock opened at $96.95 on Friday. The company has a debt-to-equity ratio of 1.30, a quick ratio of 1.06 and a current ratio of 1.85. The company has a market capitalization of $6.15 billion, a price-to-earnings ratio of -206.28 and a beta of 1.63. Beacon Roofing Supply has a fifty-two week low of $57.01 and a fifty-two week high of $102.83. The stock has a fifty day moving average of $93.38 and a 200-day moving average of $85.69.

Beacon Roofing Supply (NASDAQ:BECN) last issued its earnings results on Tuesday, February 27th. The company reported $1.47 EPS for the quarter, missing the consensus estimate of $1.69 by ($0.22). Beacon Roofing Supply had a return on equity of 26.95% and a net margin of 4.74%. The company had revenue of $2.30 billion during the quarter, compared to the consensus estimate of $2.27 billion. During the same quarter in the prior year, the business earned $1.18 EPS. The firm’s revenue for the quarter was up 16.8% compared to the same quarter last year. As a group, equities research analysts predict that Beacon Roofing Supply will post 7.8 earnings per share for the current year.

About Beacon Roofing Supply

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.