Beacon Roofing Supply (NASDAQ:BECN) PT Raised to $120.00

Beacon Roofing Supply (NASDAQ:BECN) had its target price lifted by research analysts at Robert W. Baird from $115.00 to $120.00 in a report issued on Wednesday, Benzinga reports. The brokerage currently has an “outperform” rating on the stock. Robert W. Baird’s target price would suggest a potential upside of 25.47% from the company’s previous close.

Several other research firms have also recently weighed in on BECN. Royal Bank of Canada cut their price objective on shares of Beacon Roofing Supply from $119.00 to $113.00 and set an “outperform” rating for the company in a research report on Friday, August 2nd. Stephens cut their target price on Beacon Roofing Supply from $107.00 to $95.00 and set an “equal weight” rating for the company in a research note on Monday, August 5th. Three equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $114.33.

Beacon Roofing Supply Stock Up 0.0 %

Shares of BECN opened at $95.64 on Wednesday. The company has a current ratio of 1.90, a quick ratio of 1.09 and a debt-to-equity ratio of 1.75. The stock has a market capitalization of $6.08 billion, a PE ratio of -150.73 and a beta of 1.55. The firm’s 50 day moving average is $87.11 and its 200-day moving average is $92.62. Beacon Roofing Supply has a 12 month low of $68.50 and a 12 month high of $105.42.

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

Insider Transactions at Beacon Roofing Supply

In related news, insider Jason L. Taylor sold 2,600 shares of the firm’s stock in a transaction dated Monday, October 7th. The shares were sold at an average price of $90.00, for a total transaction of $234,000.00. Following the transaction, the insider now directly owns 9,131 shares of the company’s stock, valued at $821,790. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, EVP Christopher Carl Nelson sold 1,627 shares of the company’s stock in a transaction that occurred on 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 transaction, the executive vice president now directly owns 320 shares of the company’s stock, valued at $27,200. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Jason L. Taylor sold 2,600 shares of the business’s stock in a transaction dated Monday, October 7th. The stock was sold at an average price of $90.00, for a total transaction of $234,000.00. Following the completion of the transaction, the insider now directly owns 9,131 shares in the company, valued at $821,790. This trade represents a 0.00 % decrease in their ownership of the stock. 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

Large investors have recently modified their holdings of the stock. Vontobel Holding Ltd. purchased a new position in shares of Beacon Roofing Supply during the 3rd quarter valued at $897,000. Livforsakringsbolaget Skandia Omsesidigt increased its stake in shares of 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 purchasing an additional 4,100 shares in the last quarter. GAMMA Investing LLC increased its stake in shares of Beacon Roofing Supply by 154.0% in the third quarter. GAMMA Investing LLC now owns 734 shares of the company’s stock worth $63,000 after purchasing an additional 445 shares in the last quarter. SG Americas Securities LLC raised its position in shares of Beacon Roofing Supply by 167.9% in the third quarter. SG Americas Securities LLC now owns 4,228 shares of the company’s stock valued at $365,000 after purchasing an additional 2,650 shares during the period. Finally, Central Pacific Bank Trust Division lifted its stake in shares of Beacon Roofing Supply by 66.7% during the 3rd quarter. Central Pacific Bank Trust Division now owns 1,250 shares of the company’s stock valued at $108,000 after buying an additional 500 shares in the last quarter. Hedge funds and other 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.