Robert W. Baird Raises Beacon Roofing Supply (NASDAQ:BECN) Price Target to $117.00

Beacon Roofing Supply (NASDAQ:BECN) had its price target lifted by Robert W. Baird from $115.00 to $117.00 in a research report report published on Friday, Benzinga reports. The firm currently has an outperform rating on the stock.

A number of other equities research analysts also recently commented on the company. William Blair upgraded Beacon Roofing Supply from a market perform rating to an outperform rating in a report on Monday, January 8th. StockNews.com upgraded shares of Beacon Roofing Supply from a hold rating to a buy rating in a research report on Tuesday, April 16th. BMO Capital Markets boosted their price objective on shares of Beacon Roofing Supply from $95.00 to $120.00 and gave the company an outperform rating in a report on Thursday, April 11th. Loop Capital increased their target price on shares of Beacon Roofing Supply from $110.00 to $115.00 and gave the stock a buy rating in a report on Monday, April 1st. Finally, Benchmark initiated coverage on shares of Beacon Roofing Supply in a research report on Thursday, April 18th. They set a buy rating and a $135.00 price target on the stock. Three research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat.com, Beacon Roofing Supply currently has an average rating of Moderate Buy and an average price target of $104.33.

Beacon Roofing Supply Stock Down 0.4 %

Shares of NASDAQ BECN opened at $95.46 on Friday. Beacon Roofing Supply has a 1 year low of $57.88 and a 1 year high of $103.75. The firm’s 50-day moving average is $93.91 and its 200-day moving average is $86.28. The company has a current ratio of 1.85, a quick ratio of 1.06 and a debt-to-equity ratio of 1.30. The firm has a market capitalization of $6.06 billion, a PE ratio of -151.52 and a beta of 1.59.

Beacon Roofing Supply (NASDAQ:BECN) last announced its quarterly earnings data on Tuesday, February 27th. The company reported $1.47 earnings per share for the quarter, missing the consensus estimate of $1.69 by ($0.22). Beacon Roofing Supply had a net margin of 4.47% and a return on equity of 26.31%. The business had revenue of $2.30 billion during the quarter, compared to analyst estimates of $2.27 billion. During the same quarter in the prior year, the company earned $1.18 earnings per share. The company’s quarterly revenue was up 16.8% on a year-over-year basis. Equities analysts expect that Beacon Roofing Supply will post 7.78 EPS for the current year.

Insider Buying and Selling

In other Beacon Roofing Supply news, EVP Christopher Carl Nelson sold 3,268 shares of Beacon Roofing Supply stock in a transaction dated Thursday, March 28th. The stock was sold at an average price of $93.87, for a total value of $306,767.16. Following the sale, the executive vice president now owns 176 shares of the company’s stock, valued at approximately $16,521.12. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, insider Jason L. Taylor sold 1,805 shares of the business’s stock in a transaction on Thursday, March 21st. The shares were sold at an average price of $95.00, for a total value of $171,475.00. Following the sale, the insider now owns 10,531 shares of the company’s stock, valued at $1,000,445. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP Christopher Carl Nelson sold 3,268 shares of the firm’s stock in a transaction on Thursday, March 28th. The shares were sold at an average price of $93.87, for a total transaction of $306,767.16. Following the completion of the transaction, the executive vice president now directly owns 176 shares of the company’s stock, valued at approximately $16,521.12. The disclosure for this sale can be found here. Company insiders own 1.30% of the company’s stock.

Hedge Funds Weigh In On Beacon Roofing Supply

A number of large investors have recently modified their holdings of BECN. Vanguard Group Inc. increased its position in shares of Beacon Roofing Supply by 9.6% in the fourth quarter. Vanguard Group Inc. now owns 6,165,267 shares of the company’s stock valued at $536,502,000 after acquiring an additional 539,785 shares during the last quarter. American Century Companies Inc. grew its stake in Beacon Roofing Supply by 9.3% in the third quarter. American Century Companies Inc. now owns 2,734,447 shares of the company’s stock valued at $211,017,000 after purchasing an additional 233,393 shares in the last quarter. Frontier Capital Management Co. LLC increased its position in shares of Beacon Roofing Supply by 17.3% during the 4th quarter. Frontier Capital Management Co. LLC now owns 2,126,533 shares of the company’s stock worth $185,051,000 after purchasing an additional 314,102 shares during the last quarter. Fiduciary Management Inc. WI raised its stake in shares of Beacon Roofing Supply by 4.0% during the 4th quarter. Fiduciary Management Inc. WI now owns 1,888,614 shares of the company’s stock worth $164,347,000 after purchasing an additional 72,472 shares in the last quarter. Finally, Northern Trust Corp boosted its holdings in shares of Beacon Roofing Supply by 1.2% in the 3rd quarter. Northern Trust Corp now owns 821,996 shares of the company’s stock valued at $63,433,000 after buying an additional 10,111 shares during the last quarter. 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.