Beacon Roofing Supply, Inc. (NASDAQ:BECN) Given Consensus Rating of “Hold” by Analysts

Shares of Beacon Roofing Supply, Inc. (NASDAQ:BECN) have been given an average rating of “Hold” by the twelve analysts that are currently covering the firm, Marketbeat.com reports. Nine research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The average twelve-month price objective among analysts that have covered the stock in the last year is $124.78.

BECN has been the subject of several analyst reports. Robert W. Baird raised their target price on Beacon Roofing Supply from $120.00 to $124.00 and gave the stock an “outperform” rating in a research report on Friday, February 28th. BMO Capital Markets reaffirmed a “market perform” rating and set a $124.35 target price (down from $130.00) on shares of Beacon Roofing Supply in a research report on Thursday, April 17th. Raymond James lowered Beacon Roofing Supply from a “moderate buy” rating to a “hold” rating in a research report on Friday, March 21st. StockNews.com initiated coverage on Beacon Roofing Supply in a research report on Monday. They set a “sell” rating for the company. Finally, Zelman & Associates lowered Beacon Roofing Supply from a “strong-buy” rating to a “hold” rating in a research report on Thursday, January 16th.

Beacon Roofing Supply Price Performance

Shares of NASDAQ BECN opened at $124.17 on Wednesday. The business’s 50 day moving average price is $122.27 and its two-hundred day moving average price is $113.76. The company has a market cap of $7.67 billion, a PE ratio of 21.23 and a beta of 1.31. The company has a quick ratio of 1.14, a current ratio of 1.91 and a debt-to-equity ratio of 1.60. Beacon Roofing Supply has a twelve month low of $77.54 and a twelve month high of $124.31.

Beacon Roofing Supply (NASDAQ:BECN) last posted its earnings results on Thursday, February 27th. The company reported $1.65 EPS for the quarter, missing the consensus estimate of $1.66 by ($0.01). The firm had revenue of $2.40 billion during the quarter, compared to analyst estimates of $2.43 billion. Beacon Roofing Supply had a net margin of 3.86% and a return on equity of 25.32%. On average, analysts predict that Beacon Roofing Supply will post 7.22 EPS for the current year.

Insider Buying and Selling at Beacon Roofing Supply

In related news, insider Jonathan Stuart Bennett sold 8,487 shares of the business’s stock in a transaction dated Monday, April 7th. The stock was sold at an average price of $122.14, for a total value of $1,036,602.18. Following the sale, the insider now directly owns 22,642 shares in the company, valued at approximately $2,765,493.88. The trade was a 27.26% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Christopher Carl Nelson sold 16,595 shares of the business’s stock in a transaction dated Thursday, April 3rd. The stock was sold at an average price of $123.61, for a total value of $2,051,307.95. Following the completion of the sale, the executive vice president now owns 463 shares in the company, valued at $57,231.43. This represents a 97.29% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 54,806 shares of company stock valued at $6,745,448. Company insiders own 1.30% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. SBI Securities Co. Ltd. bought a new position in shares of Beacon Roofing Supply during the fourth quarter valued at approximately $31,000. Versant Capital Management Inc grew its stake in shares of Beacon Roofing Supply by 133.7% during the first quarter. Versant Capital Management Inc now owns 388 shares of the company’s stock valued at $48,000 after buying an additional 222 shares during the last quarter. Johnson Financial Group Inc. bought a new position in shares of Beacon Roofing Supply during the fourth quarter valued at approximately $54,000. PNC Financial Services Group Inc. grew its stake in shares of Beacon Roofing Supply by 38.1% during the fourth quarter. PNC Financial Services Group Inc. now owns 591 shares of the company’s stock valued at $60,000 after buying an additional 163 shares during the last quarter. Finally, Nomura Asset Management Co. Ltd. grew its stake in shares of Beacon Roofing Supply by 26.3% during the fourth quarter. Nomura Asset Management Co. Ltd. now owns 720 shares of the company’s stock valued at $73,000 after buying an additional 150 shares during the last quarter. Institutional investors own 98.45% of the company’s stock.

Beacon Roofing Supply Company Profile

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.