Beacon Roofing Supply, Inc. (NASDAQ:BECN) Director Richard W. Frost bought 3,000 shares of the company’s stock in a transaction on Wednesday, November 27th. The stock was bought at an average cost of $30.05 per share, for a total transaction of $90,150.00. Following the completion of the acquisition, the director now directly owns 37,249 shares of the company’s stock, valued at approximately $1,119,332.45. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link.
Beacon Roofing Supply stock opened at $28.93 on Tuesday. The company has a current ratio of 1.75, a quick ratio of 1.04 and a debt-to-equity ratio of 1.39. The business’s fifty day simple moving average is $32.47 and its two-hundred day simple moving average is $33.70. Beacon Roofing Supply, Inc. has a 12 month low of $26.50 and a 12 month high of $40.00. The company has a market capitalization of $2.03 billion, a price-to-earnings ratio of 14.05, a price-to-earnings-growth ratio of 1.08 and a beta of 1.37.
Beacon Roofing Supply (NASDAQ:BECN) last announced its quarterly earnings results on Monday, November 25th. The company reported $1.04 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.21 by ($0.17). The business had revenue of $2.03 billion for the quarter, compared to the consensus estimate of $2.05 billion. Beacon Roofing Supply had a negative net margin of 0.15% and a positive return on equity of 9.55%. The company’s revenue for the quarter was up 4.9% compared to the same quarter last year. During the same period in the previous year, the company earned $1.07 earnings per share. On average, equities research analysts predict that Beacon Roofing Supply, Inc. will post 2.69 EPS for the current year.
Several equities research analysts have commented on the company. SunTrust Banks dropped their target price on Beacon Roofing Supply from $40.00 to $38.00 and set a “buy” rating on the stock in a report on Tuesday, November 26th. Zacks Investment Research raised Beacon Roofing Supply from a “sell” rating to a “hold” rating and set a $28.00 target price on the stock in a report on Wednesday, November 27th. Wedbush reissued a “neutral” rating and issued a $29.00 target price (down from $33.00) on shares of Beacon Roofing Supply in a report on Tuesday, November 26th. BidaskClub downgraded Beacon Roofing Supply from a “buy” rating to a “hold” rating in a report on Monday, November 25th. Finally, Stephens set a $37.00 target price on Beacon Roofing Supply and gave the stock an “overweight” rating in a report on Wednesday, August 7th. Two analysts have rated the stock with a sell rating, ten have given a hold rating and two have assigned a buy rating to the company’s stock. Beacon Roofing Supply presently has a consensus rating of “Hold” and an average price target of $34.09.
Large investors have recently made changes to their positions in the company. Bank of Montreal Can lifted its holdings in shares of Beacon Roofing Supply by 52.4% during the second quarter. Bank of Montreal Can now owns 17,181 shares of the company’s stock valued at $630,000 after purchasing an additional 5,906 shares in the last quarter. Aperio Group LLC lifted its holdings in shares of Beacon Roofing Supply by 5.2% during the second quarter. Aperio Group LLC now owns 13,637 shares of the company’s stock valued at $501,000 after purchasing an additional 671 shares in the last quarter. California Public Employees Retirement System lifted its holdings in shares of Beacon Roofing Supply by 68.2% during the third quarter. California Public Employees Retirement System now owns 167,457 shares of the company’s stock valued at $5,615,000 after purchasing an additional 67,914 shares in the last quarter. Rhumbline Advisers lifted its holdings in shares of Beacon Roofing Supply by 3.1% during the third quarter. Rhumbline Advisers now owns 106,694 shares of the company’s stock valued at $3,577,000 after purchasing an additional 3,177 shares in the last quarter. Finally, Menta Capital LLC bought a new position in shares of Beacon Roofing Supply during the second quarter valued at $400,000.
About Beacon Roofing Supply
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 solar systems.
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