Beacon Roofing Supply, Inc. (NASDAQ:BECN) Receives Consensus Rating of “Moderate Buy” from Brokerages

Beacon Roofing Supply, Inc. (NASDAQ:BECN) has been assigned a consensus recommendation of “Moderate Buy” from the ten brokerages that are presently covering the firm, Marketbeat Ratings reports. Two analysts have rated the stock with a hold recommendation and eight have issued a buy recommendation on the company. The average 1-year target price among analysts that have issued ratings on the stock in the last year is $114.33.

A number of equities analysts have issued reports on the company. 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 report on Wednesday, October 16th. Royal Bank of Canada lowered their target price 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. Finally, Stephens lowered their target price on Beacon Roofing Supply from $107.00 to $95.00 and set an “equal weight” rating for the company in a report on Monday, August 5th.

Beacon Roofing Supply Price Performance

Beacon Roofing Supply stock opened at $92.38 on Friday. 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 $5.88 billion, a P/E ratio of -146.63 and a beta of 1.55. The stock has a fifty day moving average of $88.03 and a 200-day moving average of $92.39.

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

Insider Activity

In other news, EVP Christopher Carl Nelson sold 1,627 shares of the stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $85.00, for a total value of $138,295.00. Following the completion of the sale, the executive vice president now owns 320 shares of the company’s stock, valued at approximately $27,200. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, EVP Christopher Carl Nelson sold 1,627 shares of the company’s 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 sale, the executive vice president now owns 320 shares in the company, valued at $27,200. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Jason L. Taylor sold 2,600 shares of the company’s stock in a transaction dated Monday, October 7th. The shares were sold at an average price of $90.00, for a total value of $234,000.00. Following the sale, the insider now owns 9,131 shares in the company, valued at approximately $821,790. The trade was 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.

Institutional Investors Weigh In On Beacon Roofing Supply

Institutional investors and hedge funds have recently made changes to their positions in the business. Assenagon Asset Management S.A. boosted its holdings in Beacon Roofing Supply by 12.3% in the third quarter. Assenagon Asset Management S.A. now owns 209,547 shares of the company’s stock worth $18,111,000 after acquiring an additional 22,971 shares in the last quarter. Raymond James & Associates boosted its holdings in Beacon Roofing Supply by 29.6% in the third quarter. Raymond James & Associates now owns 54,462 shares of the company’s stock worth $4,707,000 after acquiring an additional 12,433 shares in the last quarter. Blue Trust Inc. boosted its holdings in Beacon Roofing Supply by 222.1% in the third quarter. Blue Trust Inc. now owns 306 shares of the company’s stock worth $28,000 after acquiring an additional 211 shares in the last quarter. Vontobel Holding Ltd. bought a new position in Beacon Roofing Supply in the third quarter worth approximately $897,000. Finally, Livforsakringsbolaget Skandia Omsesidigt boosted its holdings in Beacon Roofing Supply by 24.4% in the third quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 20,900 shares of the company’s stock worth $1,806,000 after acquiring an additional 4,100 shares in the last quarter. Institutional investors own 98.45% of the company’s stock.

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.