Beacon Roofing Supply, Inc. (NASDAQ:BECN) has earned a consensus recommendation of “Hold” from the seventeen brokerages that are currently covering the stock, Marketbeat.com reports. One analyst has rated the stock with a sell recommendation, twelve have given a hold recommendation and four have given a buy recommendation to the company. The average 1-year target price among brokerages that have covered the stock in the last year is $37.46.
BECN has been the topic of several research analyst reports. BidaskClub upgraded Westport Fuel Systems from a “hold” rating to a “buy” rating in a research note on Friday, July 12th. Royal Bank of Canada boosted their price target on Summit Industrial Income REIT from C$11.50 to C$12.50 and gave the company a “sector perform” rating in a research note on Thursday, May 9th. Wells Fargo & Co reiterated a “hold” rating and set a $11.00 price target on shares of Coty in a research note on Wednesday, May 8th. Raymond James boosted their price target on Whitecap Resources from C$8.50 to C$8.75 and gave the company a “strong-buy” rating in a research note on Monday, June 10th. Finally, Wedbush reiterated an “outperform” rating on shares of Purple Innovation in a research note on Wednesday, May 8th.
Shares of BECN traded down $0.55 during trading hours on Friday, hitting $35.53. The company had a trading volume of 16,315 shares, compared to its average volume of 542,011. The company has a market cap of $2.47 billion, a P/E ratio of 13.07, a PEG ratio of 1.23 and a beta of 1.45. The company has a debt-to-equity ratio of 1.62, a current ratio of 2.27 and a quick ratio of 1.22. Beacon Roofing Supply has a one year low of $24.97 and a one year high of $43.91. The business’s fifty day moving average price is $35.51.
Beacon Roofing Supply (NASDAQ:BECN) last announced its earnings results on Tuesday, May 7th. The company reported ($0.45) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.51) by $0.06. Beacon Roofing Supply had a return on equity of 10.76% and a net margin of 0.41%. The firm had revenue of $1.43 billion for the quarter, compared to the consensus estimate of $1.38 billion. During the same period in the previous year, the business earned ($0.35) EPS. The firm’s revenue for the quarter was up .2% on a year-over-year basis. Sell-side analysts predict that Beacon Roofing Supply will post 2.91 earnings per share for the current year.
In related news, COO C Eric Swank sold 5,250 shares of the company’s stock in a transaction dated Friday, May 17th. The stock was sold at an average price of $38.14, for a total value of $200,235.00. Following the completion of the transaction, the chief operating officer now owns 34,949 shares of the company’s stock, valued at approximately $1,332,954.86. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder Cd&R Investment Associates Ix, purchased 4,625,998 shares of Beacon Roofing Supply stock in a transaction that occurred on Friday, June 28th. The stock was acquired at an average cost of $34.17 per share, with a total value of $158,070,351.66. The disclosure for this purchase can be found here. Insiders own 1.20% of the company’s stock.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Investors Research Corp acquired a new position in shares of Beacon Roofing Supply during the first quarter valued at approximately $29,000. First Personal Financial Services grew its position in Beacon Roofing Supply by 45.6% in the first quarter. First Personal Financial Services now owns 1,508 shares of the company’s stock worth $48,000 after acquiring an additional 472 shares during the period. Quantamental Technologies LLC purchased a new position in Beacon Roofing Supply in the first quarter worth approximately $63,000. FNY Investment Advisers LLC purchased a new position in Beacon Roofing Supply in the first quarter worth approximately $96,000. Finally, Pearl River Capital LLC grew its position in Beacon Roofing Supply by 3,532.0% in the first quarter. Pearl River Capital LLC now owns 3,632 shares of the company’s stock worth $116,000 after acquiring an additional 3,532 shares during the period.
Beacon Roofing Supply Company Profile
Beacon Roofing Supply, Inc, together with its subsidiaries, distributes residential and commercial roofing materials, and other complementary building materials to contractors, home builders, retailers, and building materials suppliers. The company's residential roofing products include asphalt shingles, synthetic slates and tiles, clay and concrete tiles, slates, nail base insulations, metal roofing, felts, synthetic underlayment, wood shingles and shakes, nails and fasteners, metal edgings and flashings, prefabricated flashings, ridges and soffit vents, and solar systems.
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