Brokerages Set Beacon Roofing Supply, Inc. (NASDAQ:BECN) Price Target at $122.10

Beacon Roofing Supply, Inc. (NASDAQ:BECN) has earned an average rating of “Hold” from the thirteen analysts that are currently covering the firm, MarketBeat.com reports. Ten research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The average 12 month price target among brokerages that have covered the stock in the last year is $121.47.

Several equities analysts recently issued reports on the stock. Royal Bank of Canada downgraded shares of Beacon Roofing Supply from an “outperform” rating to a “sector perform” rating and lifted their price target for the company from $124.00 to $124.35 in a report on Wednesday, April 2nd. Raymond James lowered Beacon Roofing Supply from a “moderate buy” rating to a “hold” rating in a research report on Friday, March 21st. Benchmark reiterated a “buy” rating and issued a $140.00 price objective on shares of Beacon Roofing Supply in a research report on Monday, March 3rd. Loop Capital restated a “hold” rating and set a $124.00 target price on shares of Beacon Roofing Supply in a report on Friday, March 21st. Finally, Zelman & Associates lowered Beacon Roofing Supply from a “strong-buy” rating to a “hold” rating in a research note on Thursday, January 16th.

Insider Buying and Selling at Beacon Roofing Supply

In other news, EVP Christopher Carl Nelson sold 16,595 shares of the stock in a transaction on 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 transaction, the executive vice president now owns 463 shares of the company’s stock, valued at $57,231.43. This represents a 97.29 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Jonathan Stuart Bennett sold 8,487 shares of Beacon Roofing Supply stock in a transaction on 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 of the company’s stock, valued at approximately $2,765,493.88. This trade represents a 27.26 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 54,806 shares of company stock worth $6,745,448. Company insiders own 1.30% of the company’s stock.

Institutional Trading of Beacon Roofing Supply

Institutional investors and hedge funds have recently modified their holdings of the stock. Equitable Trust Co. increased its stake in Beacon Roofing Supply by 1.7% in the fourth quarter. Equitable Trust Co. now owns 7,228 shares of the company’s stock valued at $734,000 after purchasing an additional 122 shares in the last quarter. GAMMA Investing LLC grew its holdings in shares of Beacon Roofing Supply by 17.2% in the 1st quarter. GAMMA Investing LLC now owns 913 shares of the company’s stock valued at $113,000 after buying an additional 134 shares during the period. Nomura Asset Management Co. Ltd. increased its position in shares of Beacon Roofing Supply by 26.3% in the 4th 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 in the last quarter. PNC Financial Services Group Inc. raised its stake in Beacon Roofing Supply by 38.1% during the 4th quarter. PNC Financial Services Group Inc. now owns 591 shares of the company’s stock worth $60,000 after buying an additional 163 shares during the period. Finally, Cornerstone Investment Partners LLC lifted its holdings in Beacon Roofing Supply by 3.6% during the fourth quarter. Cornerstone Investment Partners LLC now owns 4,730 shares of the company’s stock worth $480,000 after acquiring an additional 166 shares in the last quarter. 98.45% of the stock is owned by institutional investors.

Beacon Roofing Supply Stock Up 0.6 %

Shares of BECN opened at $123.85 on Friday. The company has a quick ratio of 1.14, a current ratio of 1.91 and a debt-to-equity ratio of 1.60. The company has a 50-day moving average price of $120.02 and a two-hundred day moving average price of $109.95. The stock has a market cap of $7.65 billion, a price-to-earnings ratio of 21.17 and a beta of 1.31. Beacon Roofing Supply has a 12 month low of $77.54 and a 12 month high of $123.90.

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). Beacon Roofing Supply had a return on equity of 25.32% and a net margin of 3.86%. The company had revenue of $2.40 billion for the quarter, compared to the consensus estimate of $2.43 billion. Equities analysts predict that Beacon Roofing Supply will post 7.22 EPS for the current fiscal 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.