Other equities research analysts also recently issued reports about the stock. Evercore ISI reaffirmed a hold rating and issued a $31.00 price objective on shares of Beacon Roofing Supply in a research report on Thursday, August 8th. Wedbush reaffirmed a neutral rating and issued a $33.00 price objective on shares of Beacon Roofing Supply in a research report on Wednesday, August 7th. Stephens set a $37.00 price objective on shares of Beacon Roofing Supply and gave the stock an overweight rating in a research report on Wednesday, August 7th. Raymond James set a $38.00 price objective on shares of Beacon Roofing Supply and gave the stock a buy rating in a research report on Wednesday, August 7th. Finally, SunTrust Banks set a $40.00 price objective on shares of Beacon Roofing Supply and gave the stock a buy rating in a research report on Wednesday, August 7th. Two equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and four have given a buy rating to the company. The company currently has a consensus rating of Hold and a consensus price target of $34.64.
BECN opened at $30.50 on Tuesday. The company has a debt-to-equity ratio of 1.59, a current ratio of 2.07 and a quick ratio of 1.17. Beacon Roofing Supply has a fifty-two week low of $24.97 and a fifty-two week high of $40.00. The firm has a market capitalization of $2.14 billion, a PE ratio of 11.30, a P/E/G ratio of 1.03 and a beta of 1.42. The company’s 50-day moving average is $32.43 and its 200 day moving average is $34.73.
Beacon Roofing Supply (NASDAQ:BECN) last issued its quarterly earnings data on Tuesday, August 6th. The company reported $0.92 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.24 by ($0.32). Beacon Roofing Supply had a return on equity of 9.63% and a net margin of 0.15%. The firm had revenue of $1.92 billion during the quarter, compared to the consensus estimate of $1.99 billion. During the same period in the previous year, the company posted $1.18 earnings per share. The company’s revenue for the quarter was down .5% on a year-over-year basis. As a group, analysts expect that Beacon Roofing Supply will post 2.39 EPS for the current year.
In related news, major shareholder Cd&R Investment Associates Ix, bought 3,207,200 shares of Beacon Roofing Supply stock in a transaction dated Wednesday, September 25th. The stock was purchased at an average cost of $32.08 per share, with a total value of $102,886,976.00. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. 1.20% of the stock is owned by corporate insiders.
Several institutional investors have recently added to or reduced their stakes in BECN. Marshall Wace LLP bought a new position in shares of Beacon Roofing Supply during the 1st quarter valued at approximately $1,462,000. Marshall Wace North America L.P. bought a new position in shares of Beacon Roofing Supply during the 1st quarter valued at approximately $36,419,000. Clearbridge Investments LLC grew its position in shares of Beacon Roofing Supply by 0.8% during the 1st quarter. Clearbridge Investments LLC now owns 70,308 shares of the company’s stock valued at $2,261,000 after acquiring an additional 584 shares during the period. FMR LLC grew its position in shares of Beacon Roofing Supply by 175.1% during the 1st quarter. FMR LLC now owns 550,230 shares of the company’s stock valued at $17,695,000 after acquiring an additional 350,228 shares during the period. Finally, We Are One Seven LLC bought a new position in shares of Beacon Roofing Supply during the 2nd quarter valued at approximately $200,000.
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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