Shares of Beacon Roofing Supply, Inc. (NASDAQ:BECN) have been given a consensus recommendation of “Hold” by the sixteen analysts that are currently covering the company, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating and four have issued a buy rating on the company. The average 12 month price target among brokerages that have updated their coverage on the stock in the last year is $34.67.
A number of analysts recently weighed in on the stock. ValuEngine lowered shares of Beacon Roofing Supply from a “hold” rating to a “sell” rating in a research note on Tuesday, May 28th. SunTrust Banks set a $40.00 target price on shares of Beacon Roofing Supply and gave the stock a “buy” rating in a research note on Wednesday, August 7th. Evercore ISI restated a “hold” rating and set a $31.00 target price on shares of Beacon Roofing Supply in a research note on Thursday, August 8th. Stephens set a $37.00 target price on shares of Beacon Roofing Supply and gave the stock an “overweight” rating in a research note on Wednesday, August 7th. Finally, Royal Bank of Canada upped their target price on shares of Beacon Roofing Supply to $40.00 and gave the stock a “sector perform” rating in a research note on Thursday, May 9th.
In other news, major shareholder Cd&R Investment Associates Ix, acquired 4,625,998 shares of the firm’s stock in a transaction dated Friday, June 28th. The stock was acquired at an average cost of $34.17 per share, with a total value of $158,070,351.66. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO C Eric Swank sold 5,250 shares of the stock in a transaction that occurred on Friday, May 17th. The shares were sold at an average price of $38.14, for a total value of $200,235.00. Following the completion of the sale, the chief operating officer now directly owns 34,949 shares of the company’s stock, valued at $1,332,954.86. The disclosure for this sale can be found here. Corporate insiders own 1.20% of the company’s stock.
Several hedge funds have recently bought and sold shares of the company. Investors Research Corp acquired a new stake in shares of Beacon Roofing Supply during the first quarter worth $29,000. First Personal Financial Services lifted its holdings in shares of Beacon Roofing Supply by 45.6% during the first quarter. First Personal Financial Services now owns 1,508 shares of the company’s stock worth $48,000 after purchasing an additional 472 shares during the period. Quantamental Technologies LLC acquired a new stake in shares of Beacon Roofing Supply during the first quarter worth $63,000. Hardy Reed LLC acquired a new stake in shares of Beacon Roofing Supply during the second quarter worth $84,000. Finally, FNY Investment Advisers LLC acquired a new stake in shares of Beacon Roofing Supply during the first quarter worth $96,000.
NASDAQ:BECN traded up $0.10 on Wednesday, reaching $30.56. 476,829 shares of the company’s stock were exchanged, compared to its average volume of 747,417. The company has a quick ratio of 1.17, a current ratio of 2.07 and a debt-to-equity ratio of 1.59. The stock has a market cap of $2.09 billion, a price-to-earnings ratio of 11.32, a price-to-earnings-growth ratio of 1.09 and a beta of 1.40. The business has a fifty day simple moving average of $35.38. Beacon Roofing Supply has a 52-week low of $24.97 and a 52-week high of $42.00.
Beacon Roofing Supply (NASDAQ:BECN) last issued its quarterly earnings results on Tuesday, August 6th. The company reported $0.92 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.24 by ($0.32). The business had revenue of $1.92 billion for the quarter, compared to analysts’ expectations of $1.99 billion. Beacon Roofing Supply had a return on equity of 9.63% and a net margin of 0.15%. The firm’s revenue for the quarter was down .5% on a year-over-year basis. During the same quarter last year, the company earned $1.18 earnings per share. As a group, research analysts anticipate that Beacon Roofing Supply will post 2.64 EPS for the current year.
Beacon Roofing Supply Company Profile
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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