Beacon Roofing Supply (NASDAQ:BECN) PT Lowered to $95.00

Beacon Roofing Supply (NASDAQ:BECN) had its target price lowered by Stephens from $107.00 to $95.00 in a research report report published on Monday, Benzinga reports. The firm currently has an equal weight rating on the stock.

Other analysts have also recently issued reports about the stock. Royal Bank of Canada lowered their target price on shares of Beacon Roofing Supply from $119.00 to $113.00 and set an outperform rating for the company in a research note on Friday, August 2nd. BMO Capital Markets upped their target price on Beacon Roofing Supply from $95.00 to $120.00 and gave the company an outperform rating in a research note on Thursday, April 11th. Benchmark assumed coverage on Beacon Roofing Supply in a research report on Thursday, April 18th. They set a buy rating and a $135.00 target price on the stock. StockNews.com cut Beacon Roofing Supply from a buy rating to a hold rating in a report on Monday, May 6th. Finally, Robert W. Baird cut their price objective on shares of Beacon Roofing Supply from $117.00 to $115.00 and set an outperform rating on the stock in a report on Friday, August 2nd. Three analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat, Beacon Roofing Supply currently has an average rating of Moderate Buy and a consensus price target of $111.30.

Beacon Roofing Supply Stock Up 2.7 %

Shares of NASDAQ:BECN opened at $83.45 on Monday. The company has a market capitalization of $5.31 billion, a P/E ratio of -132.46 and a beta of 1.58. The stock’s fifty day simple moving average is $94.18 and its 200-day simple moving average is $92.65. Beacon Roofing Supply has a 52-week low of $68.50 and a 52-week high of $105.42. The company has a quick ratio of 1.02, a current ratio of 1.87 and a debt-to-equity ratio of 1.47.

Beacon Roofing Supply (NASDAQ:BECN) last released its quarterly earnings results on Thursday, August 1st. The company reported $2.32 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.79 by ($0.47). The firm had revenue of $2.67 billion for the quarter, compared to analyst estimates of $2.69 billion. Beacon Roofing Supply had a return on equity of 25.83% and a net margin of 4.11%. Beacon Roofing Supply’s revenue for the quarter was up 6.8% on a year-over-year basis. During the same period in the prior year, the business earned $2.66 earnings per share. As a group, equities research analysts forecast that Beacon Roofing Supply will post 7.79 earnings per share for the current fiscal year.

Insider Activity at Beacon Roofing Supply

In other Beacon Roofing Supply news, CFO Prithvi Gandhi acquired 5,000 shares of the firm’s stock in a transaction on Wednesday, August 7th. The stock was bought at an average cost of $82.29 per share, for a total transaction of $411,450.00. Following the completion of the purchase, the chief financial officer now directly owns 5,000 shares in the company, valued at $411,450. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Beacon Roofing Supply news, CFO Prithvi Gandhi bought 5,000 shares of the business’s stock in a transaction dated Wednesday, August 7th. The shares were acquired at an average price of $82.29 per share, with a total value of $411,450.00. Following the purchase, the chief financial officer now owns 5,000 shares in the company, valued at approximately $411,450. The purchase was disclosed in a document filed with the SEC, which is available through this link. Also, EVP Christopher Carl Nelson sold 1,627 shares of the company’s stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $85.00, for a total transaction of $138,295.00. Following the sale, the executive vice president now directly owns 320 shares of the company’s stock, valued at $27,200. The disclosure for this sale can be found here. 1.30% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Beacon Roofing Supply

A number of large investors have recently modified their holdings of the stock. Vanguard Group Inc. boosted its holdings in Beacon Roofing Supply by 14.1% in the 1st quarter. Vanguard Group Inc. now owns 7,037,483 shares of the company’s stock worth $689,814,000 after acquiring an additional 872,216 shares during the period. Frontier Capital Management Co. LLC boosted its stake in shares of Beacon Roofing Supply by 17.3% in the fourth quarter. Frontier Capital Management Co. LLC now owns 2,126,533 shares of the company’s stock valued at $185,051,000 after purchasing an additional 314,102 shares during the period. Fiduciary Management Inc. WI increased its stake in Beacon Roofing Supply by 4.0% during the 4th quarter. Fiduciary Management Inc. WI now owns 1,888,614 shares of the company’s stock worth $164,347,000 after buying an additional 72,472 shares during the period. Boston Partners increased its stake in Beacon Roofing Supply by 79.6% during the 1st quarter. Boston Partners now owns 1,285,239 shares of the company’s stock worth $126,082,000 after buying an additional 569,627 shares during the period. Finally, Vaughan Nelson Investment Management L.P. boosted its position in Beacon Roofing Supply by 6.4% in the 2nd quarter. Vaughan Nelson Investment Management L.P. now owns 811,047 shares of the company’s stock valued at $73,400,000 after buying an additional 49,040 shares during the last quarter. Institutional investors and hedge funds 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.