Beacon Roofing Supply, Inc. (NASDAQ:BECN) Given Consensus Recommendation of “Hold” by Analysts

Shares of Beacon Roofing Supply, Inc. (NASDAQ:BECNGet Rating) have received a consensus recommendation of “Hold” from the twelve brokerages that are covering the company, MarketBeat Ratings reports. Six research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company. The average twelve-month price objective among brokerages that have issued a report on the stock in the last year is $65.22.

Several brokerages have recently weighed in on BECN. Zacks Investment Research upgraded shares of Beacon Roofing Supply from a “hold” rating to a “strong-buy” rating and set a $73.00 target price for the company in a research note on Thursday, May 19th. Truist Financial decreased their target price on shares of Beacon Roofing Supply from $58.00 to $55.00 in a research note on Monday, February 7th. Robert W. Baird increased their price objective on shares of Beacon Roofing Supply from $74.00 to $83.00 in a research note on Friday, May 6th. StockNews.com began coverage on shares of Beacon Roofing Supply in a research note on Thursday, March 31st. They set a “hold” rating on the stock. Finally, JPMorgan Chase & Co. reduced their price objective on shares of Beacon Roofing Supply from $68.00 to $66.00 and set a “neutral” rating on the stock in a research note on Wednesday, April 20th.

In related news, insider Clement Munroe Best III sold 4,000 shares of the stock in a transaction dated Wednesday, March 16th. The shares were sold at an average price of $63.00, for a total value of $252,000.00. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, major shareholder Cd&R Investment Associates Ix, acquired 102,219 shares of the company’s stock in a transaction that occurred on Friday, April 29th. The stock was purchased at an average cost of $58.70 per share, for a total transaction of $6,000,255.30. Following the acquisition, the insider now owns 14,755,648 shares in the company, valued at $866,156,537.60. The disclosure for this purchase can be found here. 0.95% of the stock is currently owned by corporate insiders.

Institutional investors have recently added to or reduced their stakes in the business. Segall Bryant & Hamill LLC increased its stake in Beacon Roofing Supply by 22.0% during the 3rd quarter. Segall Bryant & Hamill LLC now owns 541,091 shares of the company’s stock valued at $25,840,000 after buying an additional 97,685 shares during the period. Allspring Global Investments Holdings LLC acquired a new position in Beacon Roofing Supply during the 4th quarter valued at about $1,394,000. Kendall Capital Management acquired a new position in Beacon Roofing Supply during the 4th quarter valued at about $258,000. Ironwood Investment Management LLC increased its stake in Beacon Roofing Supply by 1.4% during the 4th quarter. Ironwood Investment Management LLC now owns 29,938 shares of the company’s stock valued at $1,717,000 after buying an additional 427 shares during the period. Finally, Cornerstone Investment Partners LLC acquired a new position in Beacon Roofing Supply during the 4th quarter valued at about $274,000.

Beacon Roofing Supply stock opened at $61.21 on Friday. The firm has a market capitalization of $4.21 billion, a PE ratio of 17.69 and a beta of 1.77. Beacon Roofing Supply has a one year low of $46.62 and a one year high of $64.90. The stock’s 50 day moving average price is $60.10 and its 200 day moving average price is $57.48. The company has a debt-to-equity ratio of 1.01, a quick ratio of 0.92 and a current ratio of 1.85.

Beacon Roofing Supply (NASDAQ:BECNGet Rating) last announced its earnings results on Thursday, May 5th. The company reported $0.89 earnings per share for the quarter, beating the consensus estimate of $0.49 by $0.40. The business had revenue of $1.69 billion during the quarter, compared to the consensus estimate of $1.43 billion. Beacon Roofing Supply had a net margin of 4.24% and a return on equity of 26.21%. On average, analysts forecast that Beacon Roofing Supply will post 6.35 earnings per share for the current fiscal year.

About Beacon Roofing Supply (Get Rating)

Beacon Roofing Supply, Inc, together with its subsidiaries, distributes residential and non-residential roofing materials, and complementary building products to contractors, home builders, building owners, lumberyards, and retailers. It 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.

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Analyst Recommendations for Beacon Roofing Supply (NASDAQ:BECN)

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