Brokerages Set Beacon Roofing Supply, Inc. (NASDAQ:BECN) Target Price at $102.92

Beacon Roofing Supply, Inc. (NASDAQ:BECN) has been given an average rating of “Moderate Buy” by the twelve ratings firms that are covering the stock, Marketbeat Ratings reports. Two investment analysts have rated the stock with a hold recommendation and ten have issued a buy recommendation on the company. The average 12-month target price among brokers that have issued a report on the stock in the last year is $102.92.

BECN has been the subject of a number of recent analyst reports. BMO Capital Markets lifted their price objective on Beacon Roofing Supply from $95.00 to $120.00 and gave the company an “outperform” rating in a research report on Thursday, April 11th. Loop Capital lifted their price objective on Beacon Roofing Supply from $110.00 to $115.00 and gave the company a “buy” rating in a research report on Monday, April 1st. StockNews.com raised Beacon Roofing Supply from a “hold” rating to a “buy” rating in a research report on Tuesday, April 16th. JPMorgan Chase & Co. lowered their price target on Beacon Roofing Supply from $103.00 to $97.00 and set an “overweight” rating for the company in a research report on Thursday, January 11th. Finally, Robert W. Baird raised Beacon Roofing Supply from a “neutral” rating to an “outperform” rating and boosted their price target for the company from $99.00 to $115.00 in a research report on Thursday, February 29th.

Insider Buying and Selling

In other Beacon Roofing Supply news, insider Jason L. Taylor sold 1,805 shares of the firm’s stock in a transaction on Thursday, March 21st. The shares were sold at an average price of $95.00, for a total transaction of $171,475.00. Following the completion of the transaction, the insider now directly owns 10,531 shares of the company’s stock, valued at approximately $1,000,445. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Beacon Roofing Supply news, EVP Christopher Carl Nelson sold 3,268 shares of the firm’s stock in a transaction on Thursday, March 28th. The shares were sold at an average price of $93.87, for a total transaction of $306,767.16. Following the completion of the transaction, the executive vice president now directly owns 176 shares of the company’s stock, valued at approximately $16,521.12. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Jason L. Taylor sold 1,805 shares of the firm’s stock in a transaction on Thursday, March 21st. The stock was sold at an average price of $95.00, for a total transaction of $171,475.00. Following the transaction, the insider now directly owns 10,531 shares of the company’s stock, valued at $1,000,445. The disclosure for this sale can be found here. 1.30% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the business. Caprock Group LLC boosted its holdings in shares of Beacon Roofing Supply by 1.3% in the 1st quarter. Caprock Group LLC now owns 8,777 shares of the company’s stock valued at $860,000 after buying an additional 111 shares during the period. Benjamin F. Edwards & Company Inc. boosted its holdings in shares of Beacon Roofing Supply by 28.4% in the 1st quarter. Benjamin F. Edwards & Company Inc. now owns 525 shares of the company’s stock valued at $52,000 after buying an additional 116 shares during the period. Summit Trail Advisors LLC boosted its holdings in shares of Beacon Roofing Supply by 1.9% in the 4th quarter. Summit Trail Advisors LLC now owns 6,555 shares of the company’s stock valued at $570,000 after buying an additional 121 shares during the period. SummerHaven Investment Management LLC boosted its holdings in shares of Beacon Roofing Supply by 1.5% in the 4th quarter. SummerHaven Investment Management LLC now owns 8,607 shares of the company’s stock valued at $749,000 after buying an additional 129 shares during the period. Finally, Parkside Financial Bank & Trust boosted its holdings in shares of Beacon Roofing Supply by 49.4% in the 3rd quarter. Parkside Financial Bank & Trust now owns 487 shares of the company’s stock valued at $38,000 after buying an additional 161 shares during the period. 98.45% of the stock is owned by institutional investors and hedge funds.

Beacon Roofing Supply Stock Performance

NASDAQ BECN opened at $96.95 on Friday. Beacon Roofing Supply has a fifty-two week low of $57.01 and a fifty-two week high of $102.83. The stock has a market cap of $6.15 billion, a price-to-earnings ratio of -206.28 and a beta of 1.63. The business has a fifty day moving average of $93.38 and a 200-day moving average of $85.69. The company has a quick ratio of 1.06, a current ratio of 1.85 and a debt-to-equity ratio of 1.30.

Beacon Roofing Supply (NASDAQ:BECN) last announced its quarterly earnings data on Tuesday, February 27th. The company reported $1.47 EPS for the quarter, missing analysts’ consensus estimates of $1.69 by ($0.22). The business had revenue of $2.30 billion during the quarter, compared to analysts’ expectations of $2.27 billion. Beacon Roofing Supply had a net margin of 4.74% and a return on equity of 26.95%. Beacon Roofing Supply’s revenue for the quarter was up 16.8% on a year-over-year basis. During the same period in the prior year, the firm earned $1.18 EPS. As a group, analysts predict that Beacon Roofing Supply will post 7.8 earnings per share 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.