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

Beacon Roofing Supply, Inc. (NASDAQ:BECN) has been given an average recommendation of “Moderate Buy” by the twelve research firms that are presently covering the firm, MarketBeat reports. Two investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company. The average 1-year price target among brokerages that have issued a report on the stock in the last year is $109.45.

Several equities analysts have recently weighed in on BECN shares. BMO Capital Markets lifted their target price 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 boosted their price target 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. Truist Financial boosted their price target on shares of Beacon Roofing Supply from $90.00 to $95.00 and gave the stock a “hold” rating in a report on Friday, May 3rd. Robert W. Baird boosted their price target on shares of Beacon Roofing Supply from $115.00 to $117.00 and gave the stock an “outperform” rating in a report on Friday, May 3rd. Finally, JPMorgan Chase & Co. boosted their price target on shares of Beacon Roofing Supply from $100.00 to $117.00 and gave the stock an “overweight” rating in a report on Tuesday, May 28th.

Insider Activity

In other news, EVP Christopher Carl Nelson sold 2,955 shares of the business’s stock in a transaction dated Friday, June 28th. The shares were sold at an average price of $91.11, for a total transaction of $269,230.05. Following the transaction, the executive vice president now owns 320 shares of the company’s stock, valued at approximately $29,155.20. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Corporate insiders own 1.30% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the stock. Boston Partners lifted its position in Beacon Roofing Supply by 79.6% in the first 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 during the last quarter. Plato Investment Management Ltd lifted its position in Beacon Roofing Supply by 140.3% in the first quarter. Plato Investment Management Ltd now owns 1,110 shares of the company’s stock valued at $109,000 after buying an additional 648 shares during the last quarter. Zimmer Partners LP acquired a new position in Beacon Roofing Supply in the first quarter valued at about $35,777,000. Comerica Bank lifted its position in Beacon Roofing Supply by 109.5% in the first quarter. Comerica Bank now owns 89,967 shares of the company’s stock valued at $8,818,000 after buying an additional 47,028 shares during the last quarter. Finally, California State Teachers Retirement System lifted its position in Beacon Roofing Supply by 6.2% in the first quarter. California State Teachers Retirement System now owns 60,896 shares of the company’s stock valued at $5,969,000 after buying an additional 3,574 shares during the last quarter. Institutional investors and hedge funds own 98.45% of the company’s stock.

Beacon Roofing Supply Price Performance

NASDAQ:BECN opened at $91.06 on Thursday. The company has a debt-to-equity ratio of 1.47, a current ratio of 1.87 and a quick ratio of 1.02. The firm has a market cap of $5.79 billion, a price-to-earnings ratio of -144.54 and a beta of 1.58. The company has a 50 day moving average price of $94.54 and a 200-day moving average price of $91.41. Beacon Roofing Supply has a 1-year low of $68.50 and a 1-year high of $103.75.

Beacon Roofing Supply (NASDAQ:BECN) last posted its earnings results on Thursday, May 2nd. The company reported $0.41 earnings per share for the quarter, beating the consensus estimate of $0.35 by $0.06. The firm had revenue of $1.91 billion during the quarter, compared to analyst estimates of $1.88 billion. Beacon Roofing Supply had a net margin of 4.47% and a return on equity of 26.39%. Equities research analysts forecast that Beacon Roofing Supply will post 7.79 EPS for the current year.

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.