Posted by admin on May 3rd, 2022

Shares of Beacon Roofing Supply, Inc. (NASDAQ:BECN – Get Rating) have been given an average recommendation of “Hold” by the twelve brokerages that are currently covering the company, Marketbeat reports. Seven investment analysts have rated the stock with a hold recommendation and two have given a buy recommendation to the company. The average twelve-month price target among brokerages that have issued a report on the stock in the last year is $62.22.

A number of research analysts have recently weighed in on the stock. JPMorgan Chase & Co. cut their price target on shares of Beacon Roofing Supply from $68.00 to $66.00 and set a “neutral” rating on the stock in a report on Wednesday, April 20th. Robert W. Baird raised their price target on shares of Beacon Roofing Supply from $72.00 to $74.00 in a report on Tuesday, April 12th. Wells Fargo & Company lifted their target price on shares of Beacon Roofing Supply from $59.00 to $67.00 and gave the stock an “equal weight” rating in a report on Thursday, April 21st. StockNews.com started coverage on shares of Beacon Roofing Supply in a report on Thursday, March 31st. They issued a “hold” rating on the stock. Finally, Truist Financial decreased their price target on shares of Beacon Roofing Supply from $58.00 to $55.00 in a research report on Monday, February 7th.

In related news, insider Clement Munroe Best III sold 4,000 shares of the stock in a transaction that occurred on Wednesday, March 16th. The shares were sold at an average price of $63.00, for a total value of $252,000.00. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, major shareholder Cd&R Investment Associates Ix, acquired 102,219 shares of the business’s stock in a transaction that occurred on Friday, April 29th. The stock was acquired at an average price of $58.70 per share, for a total transaction of $6,000,255.30. Following the completion of the acquisition, the insider now directly owns 14,755,648 shares of the company’s stock, valued at $866,156,537.60. The disclosure for this purchase can be found here. Company insiders own 0.95% of the company’s stock.

A number of institutional investors and hedge funds have recently bought and sold shares of BECN. JPMorgan Chase & Co. raised its holdings in Beacon Roofing Supply by 560.5% in the fourth quarter. JPMorgan Chase & Co. now owns 2,085,625 shares of the company’s stock worth $119,611,000 after purchasing an additional 1,769,848 shares during the period. American Century Companies Inc. increased its position in shares of Beacon Roofing Supply by 29.6% during the third quarter. American Century Companies Inc. now owns 2,907,579 shares of the company’s stock worth $138,866,000 after acquiring an additional 663,871 shares in the last quarter. Norges Bank bought a new stake in shares of Beacon Roofing Supply during the fourth quarter worth $29,982,000. Vaughan Nelson Investment Management L.P. bought a new stake in shares of Beacon Roofing Supply during the fourth quarter worth $28,544,000. Finally, Frontier Capital Management Co. LLC increased 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 acquiring an additional 442,700 shares in the last quarter.

Shares of Beacon Roofing Supply stock traded up $0.83 on Tuesday, hitting $61.39. The company had a trading volume of 1,129 shares, compared to its average volume of 327,403. The business has a 50-day simple moving average of $59.39 and a 200-day simple moving average of $56.57. The company has a debt-to-equity ratio of 0.94, a current ratio of 1.82 and a quick ratio of 1.08. The company has a market cap of $4.32 billion, a PE ratio of 22.70 and a beta of 1.77. Beacon Roofing Supply has a 52 week low of $46.62 and a 52 week high of $63.64.

Beacon Roofing Supply (NASDAQ:BECN – Get Rating) last posted its quarterly earnings data on Thursday, February 3rd. The company reported $1.28 EPS for the quarter, topping analysts’ consensus estimates of $1.19 by $0.09. Beacon Roofing Supply had a net margin of 3.56% and a return on equity of 23.98%. The firm had revenue of $1.75 billion during the quarter, compared to analyst estimates of $1.57 billion. On average, equities research analysts predict that Beacon Roofing Supply will post 5.35 earnings per share for the current fiscal year.

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.

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