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Beacon Roofing Supply, Inc. (NASDAQ:BECN - Get Rating) has received a consensus recommendation of "Hold" from the ten ratings firms that are currently covering the company, MarketBeat.com reports. Five investment analysts have rated the stock with a hold recommendation and two have issued a buy recommendation on the company. The average 1 year target price among brokerages that have updated their coverage on the stock in the last year is $62.43.
A number of brokerages have recently commented on BECN. JPMorgan Chase & Co. lowered their price target on Beacon Roofing Supply from $66.00 to $59.00 in a research note on Friday, July 15th. Stephens lowered their price target on Beacon Roofing Supply from $72.00 to $64.00 and set an "equal weight" rating for the company in a research note on Monday, August 8th. Royal Bank of Canada cut Beacon Roofing Supply from an "outperform" rating to a "sector perform" rating and lowered their price target for the company from $70.00 to $58.00 in a research note on Wednesday, June 22nd. William Blair cut Beacon Roofing Supply from an "outperform" rating to a "market perform" rating in a research note on Tuesday, July 19th. Finally, Wells Fargo & Company lowered their target price on Beacon Roofing Supply from $67.00 to $56.00 and set an "equal weight" rating for the company in a research note on Tuesday, June 28th.Beacon Roofing Supply Stock Performance
Shares of NASDAQ:BECN opened at $53.69 on Friday. The stock has a market capitalization of $3.49 billion, a P/E ratio of 11.40 and a beta of 1.79. Beacon Roofing Supply has a 1-year low of $45.71 and a 1-year high of $65.30. The company has a current ratio of 1.91, a quick ratio of 1.02 and a debt-to-equity ratio of 1.24. The business has a 50-day moving average price of $57.09 and a two-hundred day moving average price of $57.96.
Beacon Roofing Supply (NASDAQ:BECN - Get Rating) last announced its quarterly earnings data on Thursday, August 4th. The company reported $2.80 earnings per share for the quarter, topping the consensus estimate of $2.36 by $0.44. The firm had revenue of $2.36 billion during the quarter, compared to analysts' expectations of $2.28 billion. Beacon Roofing Supply had a return on equity of 29.19% and a net margin of 5.25%. The company's quarterly revenue was up 26.0% compared to the same quarter last year. During the same period in the previous year, the business posted $1.59 EPS. Equities analysts predict that Beacon Roofing Supply will post 6.94 earnings per share for the current year. Insiders Place Their Bets
In other Beacon Roofing Supply news, insider Jason L. Taylor sold 4,000 shares of the company's stock in a transaction that occurred on Monday, September 12th. The stock was sold at an average price of $57.30, for a total transaction of $229,200.00. Following the completion of the transaction, the insider now owns 5,937 shares of the company's stock, valued at approximately $340,190.10. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, major shareholder Cd&R Investment Associates Ix, purchased 103,931 shares of Beacon Roofing Supply stock in a transaction on Friday, July 29th. The stock was purchased at an average price of $57.73 per share, with a total value of $5,999,936.63. Following the transaction, the insider now directly owns 14,859,579 shares in the company, valued at approximately $857,843,495.67. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Jason L. Taylor sold 4,000 shares of the company's stock in a transaction that occurred on Monday, September 12th. The stock was sold at an average price of $57.30, for a total value of $229,200.00. Following the transaction, the insider now directly owns 5,937 shares of the company's stock, valued at approximately $340,190.10. The disclosure for this sale can be found here. Insiders own 0.95% of the company's stock. Hedge Funds Weigh In On Beacon Roofing Supply
Large investors have recently bought and sold shares of the company. Ellevest Inc. boosted its position in Beacon Roofing Supply by 1,193.9% during the 1st quarter. Ellevest Inc. now owns 427 shares of the company's stock worth $25,000 after acquiring an additional 394 shares during the last quarter. Retirement Group LLC boosted its holdings in shares of Beacon Roofing Supply by 100.0% in the 2nd quarter. Retirement Group LLC now owns 548 shares of the company's stock valued at $28,000 after buying an additional 274 shares during the last quarter. Advisor Group Holdings Inc. boosted its holdings in shares of Beacon Roofing Supply by 37.5% in the 1st quarter. Advisor Group Holdings Inc. now owns 1,101 shares of the company's stock valued at $65,000 after buying an additional 300 shares during the last quarter. DekaBank Deutsche Girozentrale acquired a new stake in shares of Beacon Roofing Supply in the 2nd quarter valued at approximately $67,000. Finally, Nisa Investment Advisors LLC acquired a new stake in shares of Beacon Roofing Supply in the 1st quarter valued at approximately $136,000. Beacon Roofing Supply Company Profile (Get Rating)
Beacon Roofing Supply, Inc, together with its subsidiaries, distributes residential and non-residential roofing materials, and complementary building products to contractors, home builders, building owners, lumberyards, and retailers. It 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.Read MoreGet a free copy of the StockNews.com research report on Beacon Roofing Supply (BECN)Humana Proves Vertically Integrated Healthcare WorksThis Small-Cap Healthcare Name Is Outperforming Its Index2 Casino Stocks Worth Taking a Look AtWhat Cintas Can Teach Investors About This Bear Market? Blackberry Stock Declines As Results Come In Lukewarm Once Again
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