Sign up for MarketBeat All Access to gain access to MarketBeat's full suite of research tools:

Beacon Roofing Supply (NASDAQ:BECN - Get Rating) had its target price cut by research analysts at Stephens from $72.00 to $64.00 in a report issued on Monday, Stock Target Advisor reports. The brokerage presently has an "equal weight" rating on the stock. Stephens' target price would indicate a potential upside of 4.97% from the stock's current price.

A number of other equities analysts have also recently weighed in on BECN. Wells Fargo & Company lowered their price objective on shares of Beacon Roofing Supply from $67.00 to $56.00 and set an "equal weight" rating for the company in a research report on Tuesday, June 28th. JPMorgan Chase & Co. lowered their price objective on shares of Beacon Roofing Supply from $66.00 to $59.00 in a research report on Friday, July 15th. Royal Bank of Canada cut shares of Beacon Roofing Supply from an "outperform" rating to a "sector perform" rating and lowered their price objective for the stock from $70.00 to $58.00 in a research report on Wednesday, June 22nd. Robert W. Baird increased their price objective on shares of Beacon Roofing Supply from $74.00 to $83.00 in a research report on Friday, May 6th. Finally, William Blair cut shares of Beacon Roofing Supply from an "outperform" rating to a "market perform" rating in a research report on Tuesday, July 19th. Nine equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat, Beacon Roofing Supply has an average rating of "Hold" and a consensus price target of $61.63.Beacon Roofing Supply Trading Up 2.3 %

Shares of NASDAQ BECN traded up $1.38 during midday trading on Monday, reaching $60.97. 3,401 shares of the stock were exchanged, compared to its average volume of 478,214. The company has a 50 day simple moving average of $56.52 and a 200 day simple moving average of $57.91. The stock has a market capitalization of $4.19 billion, a P/E ratio of 13.00 and a beta of 1.79. The company has a debt-to-equity ratio of 1.01, a quick ratio of 0.92 and a current ratio of 1.85. Beacon Roofing Supply has a twelve month low of $45.71 and a twelve month high of $65.30.

Beacon Roofing Supply (NASDAQ:BECN - Get Rating) last announced its quarterly earnings results on Thursday, August 4th. The company reported $2.80 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.36 by $0.44. The business had revenue of $2.36 billion during the quarter, compared to the consensus estimate of $2.28 billion. Beacon Roofing Supply had a net margin of 5.25% and a return on equity of 28.81%. The business's revenue was up 26.0% compared to the same quarter last year. During the same quarter last year, the firm earned $1.59 EPS. As a group, equities analysts expect that Beacon Roofing Supply will post 6.65 earnings per share for the current year. Insider Activity

In other news, major shareholder Cd&R Investment Associates Ix, acquired 103,931 shares of Beacon Roofing Supply stock in a transaction dated Friday, July 29th. The shares were acquired at an average cost of $57.73 per share, for a total transaction of $5,999,936.63. Following the acquisition, the insider now owns 14,859,579 shares of the company's stock, valued at $857,843,495.67. The acquisition was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Company insiders own 0.95% of the company's stock. Institutional Investors Weigh In On Beacon Roofing Supply

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Ellevest Inc. raised its stake 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 in the last quarter. Retirement Group LLC raised its stake in Beacon Roofing Supply by 100.0% during the 2nd quarter. Retirement Group LLC now owns 548 shares of the company's stock worth $28,000 after acquiring an additional 274 shares in the last quarter. Advisor Group Holdings Inc. raised its stake in Beacon Roofing Supply by 37.5% during the 1st quarter. Advisor Group Holdings Inc. now owns 1,101 shares of the company's stock worth $65,000 after acquiring an additional 300 shares in the last quarter. DekaBank Deutsche Girozentrale acquired a new stake in Beacon Roofing Supply during the 2nd quarter worth $67,000. Finally, Gladius Capital Management LP acquired a new stake in Beacon Roofing Supply during the 4th quarter worth $92,000. About Beacon Roofing Supply (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.Featured ArticlesGet a free copy of the StockNews.com research report on Beacon Roofing Supply (BECN)Two Appealing Biotech Stocks for Two Distinct investorsIs Tyson Foods A Buy On Post-Earnings Weakness? Is DoorDash Ready To Sprint Higher? Electric Vehicles Can Drive Alcoa Stock HigherCan Airbnb Still Thrive in a Recession?

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.

Before you consider Beacon Roofing Supply, you'll want to hear this.

MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Beacon Roofing Supply wasn't on the list.

While Beacon Roofing Supply currently has a "Hold" rating among analysts, top-rated analysts believe these five stocks are better buys.

View The Five Stocks Here

Complete the form below to receive the latest headlines and analysts' recommendations for your stocks with our free daily email newsletter:

Tom remains optimistic about investors’ prospects going forward, even as the market reacts to the words of Fed Chair Jerome Powell about “pain ahead.”

Sign up for MarketBeat All Access to gain access to MarketBeat's full suite of research tools:

View the latest news, buy/sell ratings, SEC filings and insider transactions for your stocks. Compare your portfolio performance to leading indices and get personalized stock ideas based on your portfolio.

Get daily stock ideas from top-performing Wall Street analysts. Get short term trading ideas from the MarketBeat Idea Engine. View which stocks are hot on social media with MarketBeat's trending stocks report.

Identify stocks that meet your criteria using seven unique stock screeners. See what's happening in the market right now with MarketBeat's real-time news feed. Export data to Excel for your own analysis.

MarketBeat All Access subscribers can access stock screeners, the Idea Engine, data export tools, research reports, and other premium tools.

Looking for new stock ideas? Want to see which stocks are moving? View our full suite of financial calendars and market data tables, all for free.

Receive a free world-class investing education from MarketBeat. Learn about financial terms, types of investments, trading strategies and more.

MarketBeat empowers individual investors to make better trading decisions by providing real-time financial data and objective market analysis. Whether you’re looking for analyst ratings, corporate buybacks, dividends, earnings, economic reports, financials, insider trades, IPOs, SEC filings or stock splits, MarketBeat has the objective information you need to analyze any stock. Learn more about MarketBeat.

Twitter Facebook StockTwits Financial Juice YouTube

© American Consumer News, LLC dba MarketBeat® 2010-2022. All rights reserved. 326 E 8th St #105, Sioux Falls, SD 57103 | contact@marketbeat.com | (844) 978-6257 MarketBeat does not provide personalized financial advice and does not issue recommendations or offers to buy stock or sell any security. Our Accessibility Statement | Terms of Service | Privacy Policy | Do Not Sell My Information | RSS Feeds

© 2022 Market data provided is at least 10-minutes delayed and hosted by Barchart Solutions. Information is provided 'as-is' and solely for informational purposes, not for trading purposes or advice, and is delayed. To see all exchange delays and terms of use please see Barchart's disclaimer.