Robert W. Baird Trims Beacon Roofing Supply (NASDAQ:BECN) Target Price to $115.00

Beacon Roofing Supply (NASDAQ:BECN) had its target price reduced by Robert W. Baird from $117.00 to $115.00 in a report released on Friday morning, Benzinga reports. They currently have an outperform rating on the stock.

Other equities analysts have also recently issued reports about the stock. Benchmark started coverage on shares of Beacon Roofing Supply in a research note on Thursday, April 18th. They set a buy rating and a $135.00 price target on the stock. Truist Financial lifted their price target on shares of Beacon Roofing Supply from $90.00 to $95.00 and gave the stock a hold rating in a research note on Friday, May 3rd. BMO Capital Markets lifted their price target on shares of Beacon Roofing Supply from $95.00 to $120.00 and gave the stock an outperform rating in a research note on Thursday, April 11th. StockNews.com lowered shares of Beacon Roofing Supply from a buy rating to a hold rating in a research note on Monday, May 6th. Finally, JPMorgan Chase & Co. boosted their target price on shares of Beacon Roofing Supply from $100.00 to $117.00 and gave the company an overweight rating in a research note on Tuesday, May 28th. Three investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of Moderate Buy and an average price target of $109.67.

Beacon Roofing Supply Stock Down 5.4 %

Shares of BECN stock traded down $4.61 during trading on Friday, reaching $80.79. The company’s stock had a trading volume of 2,639,970 shares, compared to its average volume of 725,366. The company has a debt-to-equity ratio of 1.47, a current ratio of 1.87 and a quick ratio of 1.02. The company has a market capitalization of $5.14 billion, a price-to-earnings ratio of -130.40 and a beta of 1.58. The stock’s 50-day moving average price is $95.34 and its 200 day moving average price is $92.84. Beacon Roofing Supply has a 1-year low of $68.50 and a 1-year high of $105.42.

Beacon Roofing Supply (NASDAQ:BECN) last posted its quarterly earnings results on Thursday, August 1st. The company reported $2.32 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%. The company’s revenue was up 6.8% on a year-over-year basis. During the same quarter last year, the firm earned $2.66 EPS. On average, research analysts anticipate that Beacon Roofing Supply will post 7.79 EPS for the current year.

Insider Buying and Selling at Beacon Roofing Supply

In other Beacon Roofing Supply news, EVP Christopher Carl Nelson sold 2,955 shares of the stock in a transaction on Friday, June 28th. The shares were sold at an average price of $91.11, for a total value of $269,230.05. Following the completion of the sale, the executive vice president now owns 320 shares in the company, valued at $29,155.20. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 1.30% of the company’s stock.

Institutional Trading of Beacon Roofing Supply

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