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

Beacon Roofing Supply, Inc. (NASDAQ:BECN) has been assigned a consensus rating of “Moderate Buy” from the ten analysts that are presently covering the firm, Marketbeat.com reports. Two equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. The average 1-year target price among analysts that have issued a report on the stock in the last year is $111.30.

Several equities research analysts have recently weighed in on BECN shares. Stephens decreased 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. Royal Bank of Canada decreased their target price on shares of Beacon Roofing Supply from $119.00 to $113.00 and set an “outperform” rating for the company in a research report on Friday, August 2nd. JPMorgan Chase & Co. boosted their price target on shares of Beacon Roofing Supply from $100.00 to $117.00 and gave the stock an “overweight” rating in a research report on Tuesday, May 28th. Finally, Robert W. Baird reduced their price objective on shares of Beacon Roofing Supply from $117.00 to $115.00 and set an “outperform” rating on the stock in a research note on Friday, August 2nd.

Insider Buying and Selling at Beacon Roofing Supply

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

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Point72 Asia Singapore Pte. Ltd. raised its position in Beacon Roofing Supply by 59.0% in the second quarter. Point72 Asia Singapore Pte. Ltd. now owns 2,014 shares of the company’s stock worth $182,000 after acquiring an additional 747 shares during the period. Sanctuary Advisors LLC bought a new stake in shares of Beacon Roofing Supply in the 2nd quarter worth approximately $276,000. Truist Financial Corp bought a new stake in shares of Beacon Roofing Supply in the 2nd quarter worth approximately $230,000. Creative Planning lifted its stake in Beacon Roofing Supply by 29.9% in the second quarter. Creative Planning now owns 11,177 shares of the company’s stock valued at $1,012,000 after purchasing an additional 2,575 shares during the last quarter. Finally, Algert Global LLC grew its holdings in Beacon Roofing Supply by 5.5% during the second quarter. Algert Global LLC now owns 135,510 shares of the company’s stock valued at $12,264,000 after purchasing an additional 7,087 shares during the period. Hedge funds and other institutional investors own 98.45% of the company’s stock.

Beacon Roofing Supply Price Performance

Beacon Roofing Supply stock opened at $85.03 on Tuesday. 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 52 week low of $68.50 and a 52 week high of $105.42. The stock has a market capitalization of $5.41 billion, a P/E ratio of -134.97 and a beta of 1.55. The stock has a fifty day moving average of $88.99 and a 200-day moving average of $92.84.

Beacon Roofing Supply (NASDAQ:BECN) last issued its earnings results on Thursday, August 1st. The company reported $2.32 earnings per share for the quarter, missing analysts’ consensus estimates of $2.79 by ($0.47). Beacon Roofing Supply had a net margin of 4.11% and a return on equity of 26.02%. The company had revenue of $2.67 billion during the quarter, compared to analyst estimates of $2.69 billion. During the same quarter in the prior year, the business earned $2.66 EPS. The business’s quarterly revenue was up 6.8% on a year-over-year basis. On average, sell-side analysts expect that Beacon Roofing Supply will post 7.39 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.