Beacon Roofing Supply, Inc. (NASDAQ:BECN) hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as $65.78 and last traded at $64.69, with a volume of 616000 shares changing hands. The stock had previously closed at $63.76.
A number of equities research analysts have issued reports on the stock. BidaskClub raised shares of Beacon Roofing Supply from a “hold” rating to a “buy” rating in a report on Friday, December 29th. Zacks Investment Research raised shares of Beacon Roofing Supply from a “hold” rating to a “strong-buy” rating and set a $68.00 target price on the stock in a report on Thursday, November 23rd. Robert W. Baird reissued an “outperform” rating and set a $70.00 target price (up previously from $55.00) on shares of Beacon Roofing Supply in a report on Tuesday, November 21st. SunTrust Banks boosted their target price on shares of Beacon Roofing Supply to $62.00 and gave the company a “buy” rating in a report on Tuesday, November 21st. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and issued a $63.00 price target (up previously from $62.00) on shares of Beacon Roofing Supply in a report on Tuesday, November 21st. Four research analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus price target of $56.91.
The company has a current ratio of 2.06, a quick ratio of 1.35 and a debt-to-equity ratio of 0.42. The stock has a market cap of $4,381.74, a PE ratio of 39.74, a PEG ratio of 0.83 and a beta of 1.49.
Beacon Roofing Supply (NASDAQ:BECN) last posted its quarterly earnings results on Monday, November 20th. The company reported $0.93 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.94 by ($0.01). Beacon Roofing Supply had a net margin of 2.30% and a return on equity of 9.09%. The business had revenue of $1.29 billion for the quarter, compared to analysts’ expectations of $1.26 billion. During the same quarter in the previous year, the company earned $0.88 earnings per share. The business’s quarterly revenue was up 9.8% on a year-over-year basis. equities research analysts predict that Beacon Roofing Supply, Inc. will post 3.1 earnings per share for the current fiscal year.
In other news, EVP Ross D. Cooper sold 2,000 shares of the stock in a transaction dated Tuesday, November 21st. The shares were sold at an average price of $59.75, for a total transaction of $119,500.00. Following the completion of the sale, the executive vice president now directly owns 7,056 shares in the company, valued at $421,596. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Paul Isabella sold 40,000 shares of the stock in a transaction dated Monday, November 27th. The stock was sold at an average price of $60.57, for a total transaction of $2,422,800.00. Following the sale, the chief executive officer now owns 172,046 shares of the company’s stock, valued at $10,420,826.22. The disclosure for this sale can be found here. Corporate insiders own 0.75% of the company’s stock.
Several institutional investors have recently bought and sold shares of BECN. SG Americas Securities LLC purchased a new stake in Beacon Roofing Supply in the second quarter worth about $100,000. Advisors Asset Management Inc. lifted its holdings in Beacon Roofing Supply by 36.7% in the second quarter. Advisors Asset Management Inc. now owns 2,105 shares of the company’s stock worth $103,000 after buying an additional 565 shares during the period. Zions Bancorporation purchased a new stake in Beacon Roofing Supply in the third quarter worth about $124,000. Advisor Group Inc. lifted its holdings in Beacon Roofing Supply by 8.9% in the second quarter. Advisor Group Inc. now owns 3,877 shares of the company’s stock worth $190,000 after buying an additional 316 shares during the period. Finally, Keybank National Association OH purchased a new stake in Beacon Roofing Supply in the third quarter worth about $210,000.
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Beacon Roofing Supply Company Profile
Beacon Roofing Supply, Inc is engaged in the distribution of residential and non-residential roofing materials in the United States and Canada. It also distributes complementary building products for residential and non-residential building exteriors. Its product portfolio includes residential roofing products, non-residential roofing products and complementary building products.
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