Zacks Research Has Pessimistic View of BECN FY2024 Earnings

Beacon Roofing Supply, Inc. (NASDAQ:BECN) – Analysts at Zacks Research dropped their FY2024 earnings per share (EPS) estimates for shares of Beacon Roofing Supply in a research note issued to 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 forecast 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 firms have also recently weighed in on BECN. Stephens cut their price objective 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. JPMorgan Chase & Co. upped their price objective on shares of Beacon Roofing Supply from $110.00 to $119.00 and gave the stock an “overweight” rating in a research report on Thursday, November 7th. Robert W. Baird lifted their price target on shares of Beacon Roofing Supply from $115.00 to $120.00 and gave the company an “outperform” rating in a report on Wednesday, October 16th. Benchmark reaffirmed a “buy” rating and issued a $140.00 price objective on shares of Beacon Roofing Supply in a research note on Friday, November 1st. Finally, Royal Bank of Canada boosted their price target on Beacon Roofing Supply from $113.00 to $114.00 and gave the company an “outperform” rating in a research note on Friday, November 1st. Three research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $115.22.

Beacon Roofing Supply Stock Performance

Beacon Roofing Supply stock opened at $98.75 on Monday. The company’s 50-day moving average is $91.58 and its two-hundred day moving average is $92.43. The company has a current ratio of 1.91, a quick ratio of 1.14 and a debt-to-equity ratio of 1.60. The company has a market cap of $6.11 billion, a PE ratio of 16.88 and a beta of 1.54. Beacon Roofing Supply has a 1 year low of $77.54 and a 1 year high of $105.84.

Insider Buying and Selling

In other Beacon Roofing Supply news, insider Clement Munroe Best III sold 5,637 shares of Beacon Roofing Supply stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $100.47, for a total transaction of $566,349.39. Following the completion of the sale, the insider now owns 69,514 shares of the company’s stock, valued at $6,984,071.58. The trade was a 7.50 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Jason L. Taylor sold 2,600 shares of the 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 transaction, the insider now owns 9,131 shares in the company, valued at $821,790. The trade was a 22.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 15,274 shares of company stock valued at $1,526,146. Company insiders own 1.30% of the company’s stock.

Institutional Investors Weigh In On Beacon Roofing Supply

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its position in Beacon Roofing Supply by 14.1% during the 1st quarter. Vanguard Group Inc. now owns 7,037,483 shares of the company’s stock valued at $689,814,000 after acquiring an additional 872,216 shares during the period. FMR LLC grew its position in Beacon Roofing Supply by 17.6% during the third quarter. FMR LLC now owns 6,435,880 shares of the company’s stock valued at $556,253,000 after buying an additional 963,633 shares during the period. State Street Corp increased its position in Beacon Roofing Supply by 1.1% in the third quarter. State Street Corp now owns 1,471,500 shares of the company’s stock worth $127,182,000 after buying an additional 15,505 shares in the last quarter. Boston Partners lifted its stake in shares of Beacon Roofing Supply by 79.6% during the 1st quarter. Boston Partners now owns 1,285,239 shares of the company’s stock valued at $126,082,000 after buying an additional 569,627 shares in the last quarter. Finally, Fisher Asset Management LLC lifted its holdings in Beacon Roofing Supply by 0.3% in the 3rd quarter. Fisher Asset Management LLC now owns 993,715 shares of the company’s stock worth $85,887,000 after purchasing an additional 2,607 shares in the last quarter. 98.45% of the stock is currently owned by institutional investors.

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.