Beacon Roofing Supply (NASDAQ:BECN) Research Coverage Started at Benchmark

Equities researchers at Benchmark initiated coverage on shares of Beacon Roofing Supply (NASDAQ:BECN) in a research report issued on Thursday, Briefing.com reports. The firm set a “buy” rating and a $135.00 price target on the stock. Benchmark’s price objective indicates a potential upside of 44.88% from the stock’s current price.

BECN has been the topic of several other reports. StockNews.com raised Beacon Roofing Supply from a “hold” rating to a “buy” rating in a research report on Tuesday. William Blair raised Beacon Roofing Supply from a “market perform” rating to an “outperform” rating in a research report on Monday, January 8th. JPMorgan Chase & Co. dropped their price target on Beacon Roofing Supply from $103.00 to $97.00 and set an “overweight” rating on the stock in a research report on Thursday, January 11th. TheStreet raised Beacon Roofing Supply from a “c” rating to a “b-” rating in a research report on Tuesday, February 27th. Finally, BMO Capital Markets upped their target price on Beacon Roofing Supply from $95.00 to $120.00 and gave the stock an “outperform” rating in a research report on Thursday, April 11th. Two equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat, Beacon Roofing Supply presently has a consensus rating of “Moderate Buy” and a consensus target price of $102.92.

Beacon Roofing Supply Trading Down 1.5 %

Shares of NASDAQ BECN opened at $93.18 on Thursday. Beacon Roofing Supply has a 12 month low of $56.94 and a 12 month high of $102.83. The company has a market cap of $5.91 billion, a price-to-earnings ratio of -198.26 and a beta of 1.63. The company has a quick ratio of 1.06, a current ratio of 1.85 and a debt-to-equity ratio of 1.30. The business has a fifty day simple moving average of $91.18 and a 200-day simple moving average of $84.21.

Beacon Roofing Supply (NASDAQ:BECN) last announced its earnings results on Tuesday, February 27th. The company reported $1.47 EPS for the quarter, missing the consensus estimate of $1.69 by ($0.22). The company had revenue of $2.30 billion for 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%. The company’s revenue for the quarter was up 16.8% on a year-over-year basis. During the same period in the prior year, the company earned $1.18 earnings per share. Sell-side analysts predict that Beacon Roofing Supply will post 7.85 EPS for the current year.

Insider Activity at Beacon Roofing Supply

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

Institutional Trading of Beacon Roofing Supply

A number of hedge funds have recently modified their holdings of the company. Summit Trail Advisors LLC lifted its position 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 worth $570,000 after acquiring an additional 121 shares during the period. SummerHaven Investment Management LLC raised 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 worth $749,000 after buying an additional 129 shares in the last quarter. West Tower Group LLC raised its holdings in shares of Beacon Roofing Supply by 21.1% in the 4th quarter. West Tower Group LLC now owns 802 shares of the company’s stock worth $70,000 after buying an additional 140 shares in the last quarter. Parkside Financial Bank & Trust raised 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 worth $38,000 after buying an additional 161 shares in the last quarter. Finally, Laurel Wealth Advisors Inc. raised its holdings in shares of Beacon Roofing Supply by 2.9% in the 4th quarter. Laurel Wealth Advisors Inc. now owns 5,940 shares of the company’s stock worth $314,000 after buying an additional 166 shares in 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.