StockNews.com Lowers Beacon Roofing Supply (NASDAQ:BECN) to Hold

StockNews.com lowered shares of Beacon Roofing Supply (NASDAQ:BECN) from a buy rating to a hold rating in a research report report published on Monday.

Several other equities research analysts have also issued reports on the company. Truist Financial raised their price objective on Beacon Roofing Supply from $90.00 to $95.00 and gave the company a hold rating in a research note on Friday, May 3rd. JPMorgan Chase & Co. dropped their price objective on shares of Beacon Roofing Supply from $103.00 to $97.00 and set an overweight rating for the company in a research note on Thursday, January 11th. Robert W. Baird increased their target price on shares of Beacon Roofing Supply from $115.00 to $117.00 and gave the company an outperform rating in a research note on Friday, May 3rd. Loop Capital lifted their price target on shares of Beacon Roofing Supply from $110.00 to $115.00 and gave the stock a buy rating in a research note on Monday, April 1st. Finally, TheStreet upgraded shares of Beacon Roofing Supply from a c rating to a b- rating in a report on Tuesday, February 27th. Three analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of Moderate Buy and an average target price of $107.64.

Beacon Roofing Supply Price Performance

Beacon Roofing Supply stock opened at $93.38 on Monday. Beacon Roofing Supply has a 52-week low of $57.88 and a 52-week high of $103.75. 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 firm’s fifty day moving average is $94.31 and its 200 day moving average is $86.53. The company has a market cap of $5.94 billion, a price-to-earnings ratio of -148.22 and a beta of 1.59.

Beacon Roofing Supply (NASDAQ:BECN) last posted its earnings results on Tuesday, February 27th. The company reported $1.47 earnings per share for the quarter, missing analysts’ consensus estimates of $1.69 by ($0.22). Beacon Roofing Supply had a return on equity of 26.31% and a net margin of 4.47%. The business had revenue of $2.30 billion during the quarter, compared to the consensus estimate of $2.27 billion. During the same quarter last year, the firm earned $1.18 earnings per share. The business’s quarterly revenue was up 16.8% on a year-over-year basis. Sell-side analysts forecast that Beacon Roofing Supply will post 7.78 EPS for the current fiscal year.

Insider Buying and Selling

In other Beacon Roofing Supply news, EVP Christopher Carl Nelson sold 3,268 shares of the company’s stock in a transaction 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 directly owns 176 shares in the company, valued at approximately $16,521.12. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, EVP Christopher Carl Nelson sold 3,268 shares of the business’s stock in a transaction dated Thursday, March 28th. The shares were 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 transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Jason L. Taylor sold 1,805 shares of the company’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 transaction of $171,475.00. Following the completion of the sale, the insider now directly 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 insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Allspring Global Investments Holdings LLC bought a new stake in Beacon Roofing Supply during the first quarter valued at about $26,000. PNC Financial Services Group Inc. boosted its holdings in shares of Beacon Roofing Supply by 145.0% in the 4th quarter. PNC Financial Services Group Inc. now owns 343 shares of the company’s stock valued at $30,000 after buying an additional 203 shares in the last quarter. Quarry LP grew its position in shares of Beacon Roofing Supply by 127.1% in the 4th quarter. Quarry LP now owns 402 shares of the company’s stock worth $35,000 after buying an additional 225 shares during the last quarter. Benjamin F. Edwards & Company Inc. bought a new position in shares of Beacon Roofing Supply during the 4th quarter worth approximately $36,000. Finally, Parkside Financial Bank & Trust lifted its position in Beacon Roofing Supply by 49.4% during the third quarter. Parkside Financial Bank & Trust now owns 487 shares of the company’s stock valued at $38,000 after acquiring an additional 161 shares during the last quarter. 98.45% of the stock is currently owned by hedge funds and other institutional investors.

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.