Shares of Beacon Roofing Supply, Inc. (NASDAQ:BECN) have been assigned an average recommendation of “Buy” from the sixteen analysts that are currently covering the firm, MarketBeat reports. Seven analysts have rated the stock with a hold recommendation and seven have issued a buy recommendation on the company. The average 1-year target price among brokerages that have covered the stock in the last year is $59.75.
BECN has been the subject of a number of analyst reports. Royal Bank of Canada upgraded Beacon Roofing Supply from a “sector perform” rating to an “outperform” rating and set a $63.00 price objective for the company in a research report on Monday, October 18th. They noted that the move was a valuation call. Truist Financial lowered Beacon Roofing Supply from a “buy” rating to a “hold” rating and reduced their price objective for the company from $65.00 to $58.00 in a research report on Monday, November 29th. Raymond James upgraded Beacon Roofing Supply from a “market perform” rating to an “outperform” rating and set a $62.00 price objective for the company in a research report on Monday, December 6th. Finally, Stephens boosted their price objective on Beacon Roofing Supply from $56.00 to $62.00 and gave the company an “equal weight” rating in a research report on Wednesday, November 24th.
Shares of BECN traded down $1.45 during mid-day trading on Friday, hitting $53.96. The stock had a trading volume of 610,592 shares, compared to its average volume of 373,442. The company has a market cap of $3.80 billion, a PE ratio of -40.57 and a beta of 2.01. The company’s fifty day simple moving average is $55.14 and its two-hundred day simple moving average is $53.16. The company has a quick ratio of 1.08, a current ratio of 1.82 and a debt-to-equity ratio of 0.94. Beacon Roofing Supply has a fifty-two week low of $38.79 and a fifty-two week high of $60.93.
Beacon Roofing Supply (NASDAQ:BECN) last released its quarterly earnings data on Thursday, November 18th. The company reported $1.22 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.54 by ($0.32). Beacon Roofing Supply had a negative net margin of 0.69% and a positive return on equity of 22.23%. The company had revenue of $1.88 billion for the quarter, compared to analyst estimates of $1.88 billion. During the same quarter in the prior year, the firm earned $1.30 EPS. The company’s revenue for the quarter was up 6.9% compared to the same quarter last year. Equities analysts expect that Beacon Roofing Supply will post 5.01 earnings per share for the current year.
In other news, major shareholder Cd&R Investment Associates Ix, acquired 116,945 shares of the company’s stock in a transaction dated Friday, October 29th. The shares were bought at an average price of $51.31 per share, with a total value of $6,000,447.95. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. 1.00% of the stock is currently owned by insiders.
Institutional investors and hedge funds have recently bought and sold shares of the company. Nordea Investment Management AB raised its position in shares of Beacon Roofing Supply by 15.6% during the fourth quarter. Nordea Investment Management AB now owns 198,406 shares of the company’s stock worth $11,228,000 after purchasing an additional 26,822 shares during the period. Radnor Capital Management LLC acquired a new stake in shares of Beacon Roofing Supply during the fourth quarter worth $299,000. Frontier Capital Management Co. LLC raised its position in shares of Beacon Roofing Supply by 46.3% during the fourth quarter. Frontier Capital Management Co. LLC now owns 1,398,819 shares of the company’s stock worth $80,222,000 after purchasing an additional 442,700 shares during the period. Vaughan Nelson Investment Management L.P. acquired a new stake in shares of Beacon Roofing Supply during the fourth quarter worth $28,544,000. Finally, Exchange Traded Concepts LLC acquired a new stake in shares of Beacon Roofing Supply during the fourth quarter worth $26,000.
Beacon Roofing Supply Company Profile
Beacon Roofing Supply, Inc engages in the distribution of residential and non-residential roofing materials. It also distributes complementary building products including siding, windows, specialty exterior building products, insulation, and waterproofing systems for building exteriors. The company was founded on August 22, 1997 and is headquartered in Herndon, VA.
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