Beacon Roofing Supply (NASDAQ:BECN) Given New $117.00 Price Target at Robert W. Baird

Beacon Roofing Supply (NASDAQ:BECN) had its price target boosted by investment analysts at Robert W. Baird from $115.00 to $117.00 in a report issued on Friday, Benzinga reports. The firm presently has an “outperform” rating on the stock. Robert W. Baird’s target price points to a potential upside of 19.98% from the company’s previous close.

Other analysts also recently issued research reports about the company. Benchmark started coverage on Beacon Roofing Supply in a research note on Thursday, April 18th. They set a “buy” rating and a $135.00 price objective on the stock. StockNews.com upgraded Beacon Roofing Supply from a “hold” rating to a “buy” rating in a report on Tuesday, April 16th. William Blair raised Beacon Roofing Supply from a “market perform” rating to an “outperform” rating in a research report on Monday, January 8th. JPMorgan Chase & Co. lowered their price objective on shares of Beacon Roofing Supply from $103.00 to $97.00 and set an “overweight” rating on the stock in a report on Thursday, January 11th. Finally, Loop Capital increased their target price on shares of Beacon Roofing Supply from $110.00 to $115.00 and gave the stock a “buy” rating in a report on Monday, April 1st. Two analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $103.08.

Beacon Roofing Supply Stock Up 0.6 %

NASDAQ BECN opened at $97.52 on Friday. The stock has a market capitalization of $6.19 billion, a P/E ratio of -207.49 and a beta of 1.59. Beacon Roofing Supply has a 52 week low of $57.01 and a 52 week high of $102.83. The company has a debt-to-equity ratio of 1.30, a quick ratio of 1.06 and a current ratio of 1.85. The stock has a fifty day moving average of $93.61 and a 200-day moving average of $85.77.

Beacon Roofing Supply (NASDAQ:BECN) last released its earnings results on Tuesday, February 27th. The company reported $1.47 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.69 by ($0.22). The business had revenue of $2.30 billion for the quarter, compared to analyst estimates of $2.27 billion. Beacon Roofing Supply had a net margin of 4.74% and a return on equity of 26.95%. The business’s revenue for the quarter was up 16.8% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.18 earnings per share. On average, equities research analysts forecast that Beacon Roofing Supply will post 7.8 EPS for the current year.

Insider Buying and Selling

In other news, EVP Christopher Carl Nelson sold 3,268 shares of the firm’s stock in a transaction dated Thursday, March 28th. The shares were sold at an average price of $93.87, for a total value of $306,767.16. Following the completion of the sale, the executive vice president now directly owns 176 shares of the company’s stock, valued at approximately $16,521.12. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other news, EVP Christopher Carl Nelson sold 3,268 shares of the company’s stock in a transaction dated Thursday, March 28th. The shares were sold at an average price of $93.87, for a total value of $306,767.16. Following the sale, the executive vice president now directly owns 176 shares of the company’s stock, valued at approximately $16,521.12. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Jason L. Taylor sold 1,805 shares of the business’s stock in a transaction on Thursday, March 21st. The stock was sold at an average price of $95.00, for a total value of $171,475.00. Following the completion of the sale, the insider now directly owns 10,531 shares in the company, valued at $1,000,445. The disclosure for this sale can be found here. 1.30% of the stock is owned by insiders.

Institutional Investors Weigh In On Beacon Roofing Supply

Several institutional investors and hedge funds have recently added to or reduced their stakes in BECN. Caprock Group LLC lifted its holdings in shares of Beacon Roofing Supply by 1.3% during the 1st quarter. Caprock Group LLC now owns 8,777 shares of the company’s stock valued at $860,000 after buying an additional 111 shares during the period. Benjamin F. Edwards & Company Inc. boosted its position in Beacon Roofing Supply by 28.4% in the first quarter. Benjamin F. Edwards & Company Inc. now owns 525 shares of the company’s stock worth $52,000 after purchasing an additional 116 shares during the last quarter. Summit Trail Advisors LLC grew its stake in shares of Beacon Roofing Supply by 1.9% during the 4th quarter. Summit Trail Advisors LLC now owns 6,555 shares of the company’s stock valued at $570,000 after purchasing an additional 121 shares during the period. SummerHaven Investment Management LLC increased its position in shares of Beacon Roofing Supply by 1.5% during the 4th quarter. SummerHaven Investment Management LLC now owns 8,607 shares of the company’s stock valued at $749,000 after purchasing an additional 129 shares during the last quarter. Finally, Parkside Financial Bank & Trust lifted its stake in shares of Beacon Roofing Supply by 49.4% in the 3rd quarter. Parkside Financial Bank & Trust now owns 487 shares of the company’s stock worth $38,000 after purchasing an additional 161 shares during the period. Hedge funds and other institutional investors 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.