Zacks Research Issues Pessimistic Forecast for BECN Earnings

Beacon Roofing Supply, Inc. (NASDAQ:BECN - Free Report) - Zacks Research dropped their FY2024 earnings per share estimates for shares of Beacon Roofing Supply in a research report issued to clients and investors on Wednesday, November 13th. Zacks Research analyst S. Mukherjee now forecasts that the company will post earnings per share of $7.23 for the year, down from their previous estimate of $7.41. The consensus estimate for Beacon Roofing Supply's current full-year earnings is $7.25 per share. Zacks Research also issued estimates for Beacon Roofing Supply's Q3 2025 earnings at $2.99 EPS and Q3 2026 earnings at $3.11 EPS.

Several other research analysts have also commented on the company. Royal Bank of Canada lifted their price target on Beacon Roofing Supply from $113.00 to $114.00 and gave the stock an "outperform" rating in a research report on Friday, November 1st. JPMorgan Chase & Co. boosted their target price on Beacon Roofing Supply from $110.00 to $119.00 and gave the company an "overweight" rating in a report on Thursday, November 7th. Benchmark reissued a "buy" rating and issued a $140.00 target price on shares of Beacon Roofing Supply in a report on Friday, November 1st. Robert W. Baird boosted their target price on Beacon Roofing Supply from $115.00 to $120.00 and gave the company an "outperform" rating in a report on Wednesday, October 16th. Finally, Stephens dropped their target price on Beacon Roofing Supply from $107.00 to $95.00 and set an "equal weight" rating on the stock in a report on Monday, August 5th. Three equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $115.22.

Beacon Roofing Supply Stock Performance

BECN traded up $9.76 during trading on Monday, hitting $108.51. 3,138,357 shares of the stock were exchanged, compared to its average volume of 724,652. The firm has a market capitalization of $6.72 billion, a P/E ratio of 18.55 and a beta of 1.54. Beacon Roofing Supply has a 1-year low of $77.54 and a 1-year high of $116.30. The stock has a fifty day moving average price of $91.58 and a two-hundred day moving average price of $92.43. The company has a quick ratio of 1.14, a current ratio of 1.91 and a debt-to-equity ratio of 1.60.

Insider Activity

In other news, insider Jason L. Taylor sold 2,600 shares of the company's stock in a transaction on Monday, October 7th. The stock was sold at an average price of $90.00, for a total value of $234,000.00. Following the sale, the insider now directly owns 9,131 shares in the company, valued at $821,790. This represents a 22.16 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Clement Munroe Best III sold 7,037 shares of the company's stock in a transaction on Friday, November 8th. The shares were sold at an average price of $103.14, for a total value of $725,796.18. Following the completion of the transaction, the insider now owns 69,449 shares of the company's stock, valued at $7,162,969.86. The trade was a 9.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 15,274 shares of company stock worth $1,526,146 over the last three months. 1.30% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Beacon Roofing Supply

Institutional investors have recently added to or reduced their stakes in the business. Allspring Global Investments Holdings LLC acquired a new stake in Beacon Roofing Supply during the first quarter worth about $26,000. Quarry LP increased its stake in Beacon Roofing Supply by 180.7% during the third quarter. Quarry LP now owns 306 shares of the company's stock worth $26,000 after acquiring an additional 197 shares during the last quarter. Blue Trust Inc. boosted its position in shares of 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 buying an additional 211 shares during the period. Harvest Fund Management Co. Ltd purchased a new stake in shares of Beacon Roofing Supply in the third quarter worth about $28,000. Finally, GAMMA Investing LLC boosted its position in shares of Beacon Roofing Supply by 154.0% in the third quarter. GAMMA Investing LLC now owns 734 shares of the company's stock worth $63,000 after buying an additional 445 shares during the period. 98.45% of the stock is currently owned by institutional investors and hedge funds.

Beacon Roofing Supply Company Profile

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.