Posted by admin on Jun 29th, 2022
Beacon Roofing Supply (NASDAQ:BECN – Get Rating) had its price target cut by Wells Fargo & Company from $67.00 to $56.00 in a research report released on Tuesday, The Fly reports. They currently have an equal weight rating on the stock.
A number of other analysts also recently weighed in on BECN. Robert W. Baird boosted their target price on Beacon Roofing Supply from $74.00 to $83.00 in a research report on Friday, May 6th. StockNews.com began coverage on Beacon Roofing Supply in a research report on Thursday, March 31st. They issued a hold rating for the company. JPMorgan Chase & Co. dropped their target price on Beacon Roofing Supply from $68.00 to $66.00 and set a neutral rating for the company in a research report on Wednesday, April 20th. Finally, Royal Bank of Canada downgraded Beacon Roofing Supply from an outperform rating to a sector perform rating and dropped their target price for the stock from $70.00 to $58.00 in a research report on Wednesday, June 22nd. Eight equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat, Beacon Roofing Supply has an average rating of Hold and a consensus target price of $62.25.
Shares of NASDAQ BECN opened at $50.20 on Tuesday. Beacon Roofing Supply has a 12 month low of $45.71 and a 12 month high of $65.30. The company has a current ratio of 1.85, a quick ratio of 0.92 and a debt-to-equity ratio of 1.01. The firm has a market capitalization of $3.45 billion, a price-to-earnings ratio of 14.51 and a beta of 1.77. The business has a 50-day moving average of $59.06 and a 200-day moving average of $57.70.
Beacon Roofing Supply (NASDAQ:BECN – Get Rating) last issued its quarterly earnings data on Thursday, May 5th. The company reported $0.89 EPS for the quarter, topping the consensus estimate of $0.49 by $0.40. Beacon Roofing Supply had a return on equity of 26.21% and a net margin of 4.24%. The company had revenue of $1.69 billion during the quarter, compared to analyst estimates of $1.43 billion. On average, analysts predict that Beacon Roofing Supply will post 6.58 earnings per share for the current year.
In related news, major shareholder Cd&R Investment Associates Ix, acquired 102,219 shares of the stock in a transaction on Friday, April 29th. The stock was purchased at an average price of $58.70 per share, for a total transaction of $6,000,255.30. Following the completion of the transaction, the insider now owns 14,755,648 shares of the company’s stock, valued at approximately $866,156,537.60. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 0.95% of the company’s stock.
Institutional investors have recently made changes to their positions in the stock. Ellevest Inc. raised its holdings in shares of Beacon Roofing Supply by 1,193.9% during the first quarter. Ellevest Inc. now owns 427 shares of the company’s stock valued at $25,000 after acquiring an additional 394 shares in the last quarter. Exchange Traded Concepts LLC bought a new position in shares of Beacon Roofing Supply during the fourth quarter valued at approximately $26,000. Advisor Group Holdings Inc. raised its holdings in shares of Beacon Roofing Supply by 37.5% during the first quarter. Advisor Group Holdings Inc. now owns 1,101 shares of the company’s stock valued at $65,000 after acquiring an additional 300 shares in the last quarter. Gladius Capital Management LP bought a new position in shares of Beacon Roofing Supply during the fourth quarter valued at approximately $92,000. Finally, Nisa Investment Advisors LLC bought a new position in shares of Beacon Roofing Supply during the first quarter valued at approximately $136,000.
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.
Receive News & Ratings for Beacon Roofing Supply Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Beacon Roofing Supply and related companies with MarketBeat.com's FREE daily email newsletter.
Wolters Kluwer (OTCMKTS:WTKWY) Short Interest Update
Shore Capital Reaffirms Buy Rating for Softcat (LON:SCT)