Beacon Roofing Supply, Inc. (NASDAQ:BECN) Given Average Recommendation of “Moderate Buy” by Brokerages

Shares of Beacon Roofing Supply, Inc. (NASDAQ:BECN) have received a consensus rating of “Moderate Buy” from the ten brokerages that are covering the company, Marketbeat.com reports. Two equities research analysts have rated the stock with a hold rating and eight have issued a buy rating on the company. The average twelve-month target price among analysts that have updated their coverage on the stock in the last year is $114.33.

BECN has been the subject of a number of analyst reports. Royal Bank of Canada reduced their price target 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. Robert W. Baird upped their target price on Beacon Roofing Supply from $115.00 to $120.00 and gave the stock an “outperform” rating in a research note on Wednesday. Finally, Stephens dropped their price target on shares of Beacon Roofing Supply from $107.00 to $95.00 and set an “equal weight” rating on the stock in a research note on Monday, August 5th.

Beacon Roofing Supply Price Performance

Shares of BECN stock opened at $95.64 on Friday. Beacon Roofing Supply has a twelve month low of $68.50 and a twelve month high of $105.42. The stock has a market cap of $6.08 billion, a P/E ratio of -151.81 and a beta of 1.55. The stock has a 50 day moving average of $87.54 and a 200 day moving average of $92.61. The company has a current ratio of 1.90, a quick ratio of 1.09 and a debt-to-equity ratio of 1.75.

Beacon Roofing Supply (NASDAQ:BECN) last posted its earnings results on Thursday, August 1st. The company reported $2.32 earnings per share for the quarter, missing the consensus estimate of $2.79 by ($0.47). The firm had revenue of $2.67 billion for the quarter, compared to analysts’ expectations of $2.69 billion. Beacon Roofing Supply had a net margin of 4.11% and a return on equity of 26.02%. Beacon Roofing Supply’s revenue for the quarter was up 6.8% compared to the same quarter last year. During the same period last year, the firm earned $2.66 earnings per share. As a group, sell-side analysts expect that Beacon Roofing Supply will post 7.37 EPS for the current year.

Insider Transactions at Beacon Roofing Supply

In other news, insider Jason L. Taylor sold 2,600 shares of the business’s stock in a transaction that occurred on Monday, October 7th. The stock was sold at an average price of $90.00, for a total transaction of $234,000.00. Following the transaction, the insider now directly owns 9,131 shares in the company, valued at $821,790. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other Beacon Roofing Supply 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 completion of the sale, the insider now directly owns 9,131 shares in the company, valued at $821,790. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, 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 stock was sold at an average price of $85.00, for a total value of $138,295.00. Following the transaction, the executive vice president now owns 320 shares in the company, valued at approximately $27,200. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders own 1.30% of the company’s stock.

Hedge Funds Weigh In On Beacon Roofing Supply

Institutional investors and hedge funds have recently bought and sold shares of the company. Caprock Group LLC grew its holdings 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 purchasing an additional 111 shares during the period. Benjamin F. Edwards & Company Inc. boosted its stake in 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 buying an additional 116 shares during the period. Vanguard Personalized Indexing Management LLC boosted its stake in Beacon Roofing Supply by 2.7% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 5,538 shares of the company’s stock worth $501,000 after buying an additional 147 shares during the period. SummerHaven Investment Management LLC raised its stake in shares of Beacon Roofing Supply by 1.8% in the 2nd quarter. SummerHaven Investment Management LLC now owns 8,874 shares of the company’s stock valued at $803,000 after acquiring an additional 156 shares during the period. Finally, QRG Capital Management Inc. raised its stake in shares of Beacon Roofing Supply by 1.5% in the 1st quarter. QRG Capital Management Inc. now owns 10,475 shares of the company’s stock valued at $1,027,000 after acquiring an additional 157 shares during the period. 98.45% of the stock is currently owned by institutional investors and hedge funds.

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.