Analysts Set Beacon Roofing Supply, Inc. (NASDAQ:BECN) PT at $107.64

Shares of Beacon Roofing Supply, Inc. (NASDAQ:BECN) have been assigned an average recommendation of “Moderate Buy” from the twelve ratings firms that are currently covering the stock, Marketbeat reports. Two equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. The average 1 year price objective among brokerages that have issued a report on the stock in the last year is $107.64.

BECN has been the subject of a number of analyst reports. Robert W. Baird upped their price target on Beacon Roofing Supply from $115.00 to $117.00 and gave the stock an “outperform” rating in a research report on Friday, May 3rd. BMO Capital Markets raised their target price on shares of Beacon Roofing Supply from $95.00 to $120.00 and gave the stock an “outperform” rating in a research note on Thursday, April 11th. Benchmark started coverage on shares of Beacon Roofing Supply in a research report on Thursday, April 18th. They issued a “buy” rating and a $135.00 price target for the company. Loop Capital raised their price objective on shares of Beacon Roofing Supply from $110.00 to $115.00 and gave the company a “buy” rating in a research report on Monday, April 1st. Finally, TheStreet raised shares of Beacon Roofing Supply from a “c” rating to a “b-” rating in a report on Tuesday, February 27th.

Beacon Roofing Supply Stock Performance

Shares of BECN stock opened at $97.22 on Wednesday. The company has a market capitalization of $6.18 billion, a price-to-earnings ratio of -154.32 and a beta of 1.59. The company has a debt-to-equity ratio of 1.47, a quick ratio of 1.02 and a current ratio of 1.87. Beacon Roofing Supply has a one year low of $63.42 and a one year high of $103.75. The company’s 50-day moving average is $96.47 and its 200 day moving average is $88.52.

Beacon Roofing Supply (NASDAQ:BECN) last announced its quarterly earnings results on Thursday, May 2nd. The company reported $0.41 EPS for the quarter, topping analysts’ consensus estimates of $0.35 by $0.06. Beacon Roofing Supply had a net margin of 4.47% and a return on equity of 26.39%. The firm had revenue of $1.91 billion during the quarter, compared to analyst estimates of $1.88 billion. Sell-side analysts expect that Beacon Roofing Supply will post 7.8 EPS for the current fiscal year.

Insider Activity

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

Institutional Investors Weigh In On Beacon Roofing Supply

Several institutional investors have recently bought and sold shares of BECN. Allspring Global Investments Holdings LLC acquired a new position in shares of Beacon Roofing Supply during the first quarter worth $26,000. PNC Financial Services Group Inc. boosted its holdings in Beacon Roofing Supply by 145.0% in the fourth quarter. PNC Financial Services Group Inc. now owns 343 shares of the company’s stock worth $30,000 after acquiring an additional 203 shares in the last quarter. Quarry LP boosted its holdings in Beacon Roofing Supply by 127.1% in the fourth quarter. Quarry LP now owns 402 shares of the company’s stock worth $35,000 after acquiring an additional 225 shares in the last quarter. Benjamin F. Edwards & Company Inc. purchased a new stake in shares of Beacon Roofing Supply during the fourth quarter worth about $36,000. Finally, Parkside Financial Bank & Trust increased its holdings in shares of Beacon Roofing Supply by 49.4% during the third quarter. Parkside Financial Bank & Trust now owns 487 shares of the company’s stock valued at $38,000 after acquiring an additional 161 shares in the last quarter. 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.