Beacon Roofing Supply, Inc. (NASDAQ:BECN) Receives $111.30 Average Target Price from Analysts

Shares of Beacon Roofing Supply, Inc. (NASDAQ:BECN) have been given a consensus rating of “Moderate Buy” by the ten research firms that are presently covering the company, MarketBeat.com reports. Two equities research analysts have rated the stock with a hold recommendation and eight have issued a buy recommendation on the company. The average 12 month price objective among brokers that have issued ratings on the stock in the last year is $111.30.

BECN has been the subject of several research analyst reports. Robert W. Baird dropped their target price on shares of Beacon Roofing Supply from $117.00 to $115.00 and set an “outperform” rating for the company in a research report on Friday, August 2nd. Stephens lowered their price objective on Beacon Roofing Supply from $107.00 to $95.00 and set an “equal weight” rating for the company in a report on Monday, August 5th. Royal Bank of Canada reduced their target price on Beacon Roofing Supply from $119.00 to $113.00 and set an “outperform” rating on the stock in a report on Friday, August 2nd. Finally, JPMorgan Chase & Co. boosted their price target on Beacon Roofing Supply from $100.00 to $117.00 and gave the company an “overweight” rating in a report on Tuesday, May 28th.

Beacon Roofing Supply Trading Down 1.8 %

NASDAQ:BECN opened at $83.19 on Friday. The stock has a market cap of $5.29 billion, a price-to-earnings ratio of -132.05 and a beta of 1.55. Beacon Roofing Supply has a one year low of $68.50 and a one year high of $105.42. The company has a debt-to-equity ratio of 1.75, a quick ratio of 1.09 and a current ratio of 1.90. The business’s 50-day simple moving average is $90.73 and its 200 day simple moving average is $92.97.

Beacon Roofing Supply (NASDAQ:BECN) last announced its earnings results on Thursday, August 1st. The company reported $2.32 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.79 by ($0.47). The business had revenue of $2.67 billion during the quarter, compared to analyst estimates of $2.69 billion. Beacon Roofing Supply had a net margin of 4.11% and a return on equity of 26.02%. The business’s revenue for the quarter was up 6.8% on a year-over-year basis. During the same period in the previous year, the company earned $2.66 earnings per share. As a group, sell-side analysts predict that Beacon Roofing Supply will post 7.46 earnings per share for the current fiscal year.

Insider Buying and Selling at Beacon Roofing Supply

In other news, CFO Prithvi Gandhi acquired 5,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 7th. The shares were acquired at an average price of $82.29 per share, with a total value of $411,450.00. Following the acquisition, the chief financial officer now directly owns 5,000 shares in the company, valued at $411,450. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Beacon Roofing Supply news, CFO Prithvi Gandhi acquired 5,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 7th. The stock was acquired at an average cost of $82.29 per share, with a total value of $411,450.00. Following the acquisition, the chief financial officer now directly owns 5,000 shares of the company’s stock, valued at approximately $411,450. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Christopher Carl Nelson sold 1,627 shares of Beacon Roofing Supply stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $85.00, for a total value of $138,295.00. Following the sale, the executive vice president now directly owns 320 shares in the company, valued at approximately $27,200. The disclosure for this sale can be found here. 1.30% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Beacon Roofing Supply

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Caprock Group LLC raised its position in shares of Beacon Roofing Supply by 1.3% during the 1st quarter. Caprock Group LLC now owns 8,777 shares of the company’s stock worth $860,000 after buying an additional 111 shares in the last quarter. Benjamin F. Edwards & Company Inc. raised its position in shares of Beacon Roofing Supply by 28.4% during the first quarter. Benjamin F. Edwards & Company Inc. now owns 525 shares of the company’s stock worth $52,000 after purchasing an additional 116 shares during the period. Summit Trail Advisors LLC lifted its holdings in shares of Beacon Roofing Supply by 1.9% during the fourth quarter. Summit Trail Advisors LLC now owns 6,555 shares of the company’s stock valued at $570,000 after purchasing an additional 121 shares during the last quarter. Vanguard Personalized Indexing Management LLC boosted its position in shares of Beacon Roofing Supply by 2.7% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 5,538 shares of the company’s stock valued at $501,000 after purchasing an additional 147 shares during the period. Finally, SummerHaven Investment Management LLC increased its stake in Beacon Roofing Supply by 1.8% in the 2nd quarter. SummerHaven Investment Management LLC now owns 8,874 shares of the company’s stock worth $803,000 after purchasing an additional 156 shares in the last quarter. Institutional investors own 98.45% of the company’s stock.

About Beacon Roofing Supply

Beacon Roofing Supply, Inc, together with its subsidiaries, engages in the distribution of residential and non-residential roofing materials, and complementary building products to contractors, home builders, building owners, lumberyards, and retailers in the United States and Canada. The company 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.