Shares of Beacon Roofing Supply, Inc. (NASDAQ:BECN) have received an average recommendation of “Hold” from the twenty research firms that are presently covering the company, MarketBeat Ratings reports. Four investment analysts have rated the stock with a sell rating, seven have given a hold rating and eight have given a buy rating to the company. The average twelve-month target price among analysts that have issued a report on the stock in the last year is $48.07.
Several equities analysts recently issued reports on the company. Wedbush decreased their price objective on Beacon Roofing Supply from $65.00 to $50.00 and set an “outperform” rating for the company in a research report on Wednesday, August 8th. Seaport Global Securities set a $52.00 price objective on Beacon Roofing Supply and gave the company a “buy” rating in a research report on Sunday, August 12th. Zacks Investment Research lowered Beacon Roofing Supply from a “hold” rating to a “sell” rating in a research report on Tuesday, July 10th. BidaskClub lowered Beacon Roofing Supply from a “hold” rating to a “sell” rating in a research report on Wednesday, October 3rd. Finally, Citigroup lowered Beacon Roofing Supply from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $51.00 to $44.00 in a research report on Wednesday, August 8th.
In other news, Director Philip Knisely bought 6,000 shares of the business’s stock in a transaction on Thursday, August 16th. The shares were purchased at an average price of $37.14 per share, for a total transaction of $222,840.00. Following the purchase, the director now owns 6,000 shares of the company’s stock, valued at approximately $222,840. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. Also, major shareholder Cd&R Investment Associates Ix, bought 314,400 shares of the business’s stock in a transaction on Thursday, August 9th. The stock was purchased at an average price of $38.77 per share, for a total transaction of $12,189,288.00. The disclosure for this purchase can be found here. Insiders own 0.77% of the company’s stock.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in BECN. Advisors Asset Management Inc. lifted its stake in Beacon Roofing Supply by 1,809.4% in the 2nd quarter. Advisors Asset Management Inc. now owns 61,196 shares of the company’s stock valued at $119,000 after acquiring an additional 57,991 shares in the last quarter. Suntrust Banks Inc. bought a new stake in Beacon Roofing Supply in the 1st quarter valued at approximately $211,000. Jane Street Group LLC bought a new stake in Beacon Roofing Supply in the 2nd quarter valued at approximately $226,000. Eqis Capital Management Inc. bought a new stake in Beacon Roofing Supply in the 2nd quarter valued at approximately $261,000. Finally, CIBC World Markets Inc. bought a new stake in shares of Beacon Roofing Supply during the 2nd quarter worth approximately $277,000.
Shares of Beacon Roofing Supply stock traded down $0.93 during trading on Monday, hitting $29.34. 670,363 shares of the company were exchanged, compared to its average volume of 1,412,239. The firm has a market capitalization of $2.06 billion, a P/E ratio of 13.46, a PEG ratio of 0.42 and a beta of 1.44. Beacon Roofing Supply has a 1-year low of $24.97 and a 1-year high of $66.47. The company has a current ratio of 2.07, a quick ratio of 1.14 and a debt-to-equity ratio of 1.63.
Beacon Roofing Supply (NASDAQ:BECN) last posted its earnings results on Tuesday, August 7th. The company reported $1.18 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.32 by ($0.14). The company had revenue of $1.93 billion for the quarter, compared to analyst estimates of $2.07 billion. Beacon Roofing Supply had a return on equity of 9.94% and a net margin of 1.65%. During the same quarter in the previous year, the firm posted $0.84 earnings per share. Research analysts anticipate that Beacon Roofing Supply will post 3.02 EPS for the current fiscal year.
Beacon Roofing Supply Company Profile
Beacon Roofing Supply, Inc, together with its subsidiaries, distributes residential and commercial roofing materials, and other complementary building materials to contractors, home builders, retailers, and building materials suppliers. The company's residential roofing products include asphalt shingles, synthetic slates and tiles, clay and concrete tiles, slates, nail base insulations, metal roofing, felts, synthetic underlayment, wood shingles and shakes, nails and fasteners, metal edgings and flashings, prefabricated flashings, ridges and soffit vents, and other accessories.
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