Beacon Roofing Supply (NASDAQ:BECN) Sets New 1-Year High at $55.88


Share on StockTwits

Shares of Beacon Roofing Supply, Inc. (NASDAQ:BECN) reached a new 52-week high during mid-day trading on Monday . The stock traded as high as $55.88 and last traded at $55.85, with a volume of 3071 shares. The stock had previously closed at $55.32.

BECN has been the topic of several research analyst reports. Stifel Nicolaus initiated coverage on Beacon Roofing Supply in a report on Monday, March 15th. They issued a “buy” rating and a $61.00 price objective on the stock. Truist boosted their target price on Beacon Roofing Supply from $43.00 to $49.00 in a report on Tuesday, February 9th. Wolfe Research initiated coverage on Beacon Roofing Supply in a report on Monday, March 22nd. They set a “peer perform” rating on the stock. Deutsche Bank Aktiengesellschaft boosted their target price on Beacon Roofing Supply from $41.00 to $44.00 in a report on Tuesday, December 22nd. Finally, Zacks Investment Research cut Beacon Roofing Supply from a “buy” rating to a “hold” rating and set a $45.00 target price on the stock. in a report on Friday, January 22nd. Six equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Beacon Roofing Supply presently has a consensus rating of “Buy” and a consensus target price of $41.93.

The stock has a market capitalization of $3.86 billion, a price-to-earnings ratio of -33.68 and a beta of 1.97. The business has a fifty day moving average of $51.83 and a 200 day moving average of $41.93. The company has a debt-to-equity ratio of 1.56, a current ratio of 1.82 and a quick ratio of 1.25.

Beacon Roofing Supply (NASDAQ:BECN) last released its quarterly earnings data on Sunday, February 7th. The company reported $1.15 EPS for the quarter, beating analysts’ consensus estimates of $0.60 by $0.55. The firm had revenue of $1.83 billion for the quarter, compared to analysts’ expectations of $1.70 billion. Beacon Roofing Supply had a positive return on equity of 10.89% and a negative net margin of 1.16%. The firm’s quarterly revenue was up 9.0% on a year-over-year basis. During the same period in the prior year, the firm posted $0.36 earnings per share. On average, equities research analysts expect that Beacon Roofing Supply, Inc. will post 2.97 EPS for the current year.

In other Beacon Roofing Supply news, EVP Christopher Anthony Harrison sold 20,415 shares of the business’s stock in a transaction that occurred on Wednesday, February 10th. The stock was sold at an average price of $45.33, for a total value of $925,411.95. Following the sale, the executive vice president now owns 39,194 shares of the company’s stock, valued at $1,776,664.02. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Jason L. Taylor sold 3,387 shares of the business’s stock in a transaction that occurred on Thursday, March 11th. The shares were sold at an average price of $53.21, for a total value of $180,222.27. Following the completion of the sale, the insider now directly owns 8,804 shares in the company, valued at approximately $468,460.84. The disclosure for this sale can be found here. In the last three months, insiders sold 72,520 shares of company stock worth $3,432,984. 1.40% of the stock is owned by corporate insiders.

Several institutional investors have recently bought and sold shares of the company. Aperio Group LLC increased its position in shares of Beacon Roofing Supply by 4.6% during the fourth quarter. Aperio Group LLC now owns 9,678 shares of the company’s stock worth $389,000 after acquiring an additional 425 shares during the period. Nisa Investment Advisors LLC increased its position in shares of Beacon Roofing Supply by 6.0% during the fourth quarter. Nisa Investment Advisors LLC now owns 8,830 shares of the company’s stock worth $355,000 after acquiring an additional 500 shares during the period. Advisory Services Network LLC purchased a new stake in shares of Beacon Roofing Supply during the fourth quarter worth $45,000. The Manufacturers Life Insurance Company increased its position in shares of Beacon Roofing Supply by 3.8% during the fourth quarter. The Manufacturers Life Insurance Company now owns 33,054 shares of the company’s stock worth $1,328,000 after acquiring an additional 1,223 shares during the period. Finally, IndexIQ Advisors LLC increased its position in shares of Beacon Roofing Supply by 11.5% during the fourth quarter. IndexIQ Advisors LLC now owns 12,663 shares of the company’s stock worth $509,000 after acquiring an additional 1,307 shares during the period.

Beacon Roofing Supply Company Profile (NASDAQ:BECN)

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, and retailers. 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.

Featured Story: Relative Strength Index

Receive News & Ratings for Beacon Roofing Supply Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Beacon Roofing Supply and related companies with MarketBeat.com's FREE daily email newsletter.