Beacon Roofing Supply, Inc. (NASDAQ:BECN) Receives Average Recommendation of "Moderate Buy" from Analysts

Beacon Roofing Supply, Inc. (NASDAQ:BECN - Get Free Report) has received a consensus rating of "Moderate Buy" from the ten brokerages that are currently covering the stock, Marketbeat.com reports. Two analysts have rated the stock with a hold rating and eight have given a buy rating to the company. The average 12-month price objective among brokers that have issued ratings on the stock in the last year is $114.33.

A number of research firms have issued reports on BECN. Robert W. Baird lifted their target price on Beacon Roofing Supply from $115.00 to $120.00 and gave the company an "outperform" rating in a research report on Wednesday. Stephens dropped their price target on Beacon Roofing Supply from $107.00 to $95.00 and set an "equal weight" rating for the company in a research note on Monday, August 5th. Finally, Royal Bank of Canada lowered their target price on Beacon Roofing Supply from $119.00 to $113.00 and set an "outperform" rating for the company in a report on Friday, August 2nd.

Insider Buying and Selling

In other Beacon Roofing Supply news, insider Jason L. Taylor sold 2,600 shares of the firm's stock in a transaction that occurred on Monday, October 7th. The shares were sold at an average price of $90.00, for a total transaction of $234,000.00. Following the completion of the transaction, the insider now owns 9,131 shares in the company, valued at approximately $821,790. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other Beacon Roofing Supply news, CFO Prithvi Gandhi purchased 5,000 shares of the firm's stock in a transaction on Wednesday, August 7th. The stock was purchased at an average cost of $82.29 per share, for a total transaction of $411,450.00. Following the acquisition, the chief financial officer now owns 5,000 shares in the company, valued at approximately $411,450. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Jason L. Taylor sold 2,600 shares of the business's stock in a transaction dated Monday, October 7th. The shares were sold at an average price of $90.00, for a total value of $234,000.00. Following the completion of the transaction, the insider now directly owns 9,131 shares in the company, valued at $821,790. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.30% of the stock is owned by insiders.

Institutional Investors Weigh In On Beacon Roofing Supply

Large investors have recently added to or reduced their stakes in the business. Allspring Global Investments Holdings LLC acquired a new stake in shares of Beacon Roofing Supply during the 1st quarter worth approximately $26,000. Blue Trust Inc. grew its holdings in Beacon Roofing Supply by 222.1% in the third quarter. Blue Trust Inc. now owns 306 shares of the company's stock worth $28,000 after purchasing an additional 211 shares during the period. PNC Financial Services Group Inc. increased its stake in Beacon Roofing Supply by 145.0% in the fourth quarter. PNC Financial Services Group Inc. now owns 343 shares of the company's stock valued at $30,000 after purchasing an additional 203 shares in the last quarter. Benjamin F. Edwards & Company Inc. raised its stake in Beacon Roofing Supply by 28.4% during the 1st quarter. Benjamin F. Edwards & Company Inc. now owns 525 shares of the company's stock worth $52,000 after buying an additional 116 shares during the period. Finally, GAMMA Investing LLC lifted its position in Beacon Roofing Supply by 154.0% in the 3rd quarter. GAMMA Investing LLC now owns 734 shares of the company's stock valued at $63,000 after acquiring an additional 445 shares in the last quarter. Institutional investors and hedge funds own 98.45% of the company's stock.

Beacon Roofing Supply Price Performance

Shares of BECN remained flat at $95.64 during mid-day trading on Friday. 327,420 shares of the stock traded hands, compared to its average volume of 714,562. The company has a debt-to-equity ratio of 1.75, a quick ratio of 1.09 and a current ratio of 1.90. Beacon Roofing Supply has a 12 month low of $68.50 and a 12 month high of $105.42. The stock has a 50 day moving average of $87.54 and a 200-day moving average of $92.61. The stock has a market capitalization of $6.08 billion, a price-to-earnings ratio of -151.81 and a beta of 1.55.

Beacon Roofing Supply (NASDAQ:BECN - Get Free Report) last issued its quarterly earnings results on Thursday, August 1st. The company reported $2.32 EPS for the quarter, missing analysts' consensus estimates of $2.79 by ($0.47). The company had revenue of $2.67 billion during the quarter, compared to the consensus estimate of $2.69 billion. Beacon Roofing Supply had a return on equity of 26.02% and a net margin of 4.11%. The firm's revenue for the quarter was up 6.8% on a year-over-year basis. During the same quarter in the previous year, the business posted $2.66 EPS. Analysts forecast that Beacon Roofing Supply will post 7.37 earnings per share for the current fiscal year.

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.