Beacon Roofing Supply Inc. (BECN) PT Lowered to $56.00
Beacon Roofing Supply Inc. (NASDAQ:BECN) had its price objective dropped by stock analysts at Robert W. Baird from $57.00 to $56.00 in a research note issued on Tuesday. The brokerage currently has an “outperform” rating on the stock. Robert W. Baird’s target price indicates a potential upside of 19.43% from the company’s current price.
BECN has been the topic of a number of other research reports. Zacks Investment Research lowered Beacon Roofing Supply from a “hold” rating to a “sell” rating in a research report on Tuesday, October 4th. Wedbush reiterated a “neutral” rating and issued a $50.00 price objective on shares of Beacon Roofing Supply in a report on Tuesday, September 6th. RBC Capital Markets dropped their price objective on Beacon Roofing Supply from $54.00 to $51.00 and set an “outperform” rating on the stock in a report on Tuesday. Finally, Royal Bank Of Canada dropped their price target on Beacon Roofing Supply from $54.00 to $51.00 and set an “outperform” rating on the stock in a research note on Tuesday. Five investment analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. Beacon Roofing Supply presently has an average rating of “Buy” and an average target price of $48.90.
Beacon Roofing Supply (NASDAQ:BECN) traded down 3.13% during trading on Tuesday, reaching $45.42. The company’s stock had a trading volume of 1,247,940 shares. The stock has a market capitalization of $2.71 billion, a PE ratio of 35.74 and a beta of 1.33. Beacon Roofing Supply has a 1-year low of $32.24 and a 1-year high of $48.96. The stock has a 50 day moving average price of $43.19 and a 200 day moving average price of $44.19.
Beacon Roofing Supply (NASDAQ:BECN) last posted its earnings results on Monday, November 21st. The company reported $0.88 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.91 by $0.03. Beacon Roofing Supply had a return on equity of 9.66% and a net margin of 1.96%. The firm had revenue of $1.17 billion for the quarter, compared to analyst estimates of $1.28 billion. During the same period in the previous year, the company posted $0.75 EPS. Beacon Roofing Supply’s revenue was up 49.1% on a year-over-year basis. Analysts anticipate that Beacon Roofing Supply will post $2.13 earnings per share for the current fiscal year.
In other Beacon Roofing Supply news, Director Carl T. Berquist purchased 5,000 shares of the business’s stock in a transaction that occurred on Wednesday, September 7th. The shares were acquired at an average price of $44.81 per share, for a total transaction of $224,050.00. Following the completion of the purchase, the director now owns 5,000 shares in the company, valued at approximately $224,050. The purchase was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Paul Isabella sold 45,000 shares of the business’s stock in a transaction dated Friday, August 26th. The stock was sold at an average price of $46.31, for a total value of $2,083,950.00. Following the completion of the transaction, the chief executive officer now owns 155,414 shares in the company, valued at approximately $7,197,222.34. The disclosure for this sale can be found here. Company insiders own 1.15% of the company’s stock.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Eagle Asset Management Inc. boosted its position in Beacon Roofing Supply by 12.6% in the second quarter. Eagle Asset Management Inc. now owns 71,009 shares of the company’s stock valued at $3,228,000 after buying an additional 7,959 shares during the period. BNP Paribas Arbitrage SA raised its stake in shares of Beacon Roofing Supply by 43,618.9% in the second quarter. BNP Paribas Arbitrage SA now owns 16,176 shares of the company’s stock valued at $736,000 after buying an additional 16,139 shares in the last quarter. Barclays PLC raised its stake in shares of Beacon Roofing Supply by 96,161.2% in the first quarter. Barclays PLC now owns 47,168 shares of the company’s stock valued at $1,934,000 after buying an additional 47,119 shares in the last quarter. Schonfeld Strategic Advisors LLC purchased a new stake in shares of Beacon Roofing Supply during the first quarter valued at $299,000. Finally, Springbok Capital Management LLC raised its stake in shares of Beacon Roofing Supply by 275.5% in the first quarter. Springbok Capital Management LLC now owns 2,700 shares of the company’s stock valued at $111,000 after buying an additional 1,981 shares in the last quarter.
About Beacon Roofing Supply
Beacon Roofing Supply, Inc is a distributor of residential and non-residential roofing materials in the United States. The Company operates in the wholesale distribution of building materials segment. The Company distributes other complementary building materials, such as waterproofing systems for residential and non-residential building exteriors.
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