Beacon Roofing Supply (NASDAQ:BECN) PT Raised to $95.00 at Truist Financial

Beacon Roofing Supply (NASDAQ:BECN) had its price objective hoisted by Truist Financial from $90.00 to $95.00 in a report published on Friday, Benzinga reports. They currently have a hold rating on the stock.

A number of other analysts also recently issued reports on the stock. JPMorgan Chase & Co. decreased their price objective on shares of Beacon Roofing Supply from $103.00 to $97.00 and set an overweight rating for the company in a report on Thursday, January 11th. TheStreet raised shares of Beacon Roofing Supply from a c rating to a b- rating in a report on Tuesday, February 27th. Robert W. Baird increased their price objective on Beacon Roofing Supply from $115.00 to $117.00 and gave the company an outperform rating in a report on Friday. StockNews.com upgraded Beacon Roofing Supply from a hold rating to a buy rating in a research note on Tuesday, April 16th. Finally, 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 target for the company. Three equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of Moderate Buy and a consensus target price of $104.33.

Beacon Roofing Supply Trading Down 0.4 %

NASDAQ:BECN opened at $95.46 on Friday. Beacon Roofing Supply has a 52 week low of $57.88 and a 52 week high of $103.75. The firm has a 50-day moving average price of $93.91 and a two-hundred day moving average price of $86.28. 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 firm has a market cap of $6.06 billion, a price-to-earnings ratio of -151.52 and a beta of 1.59.

Beacon Roofing Supply (NASDAQ:BECN) last issued its quarterly earnings results on Tuesday, February 27th. The company reported $1.47 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 the consensus estimate of $2.27 billion. Beacon Roofing Supply had a return on equity of 26.31% and a net margin of 4.47%. The business’s revenue was up 16.8% compared to the same quarter last year. During the same quarter last year, the business posted $1.18 earnings per share. On average, equities analysts expect that Beacon Roofing Supply will post 7.78 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, EVP Christopher Carl Nelson sold 3,268 shares of the company’s stock in a transaction that occurred on Thursday, March 28th. The shares were sold at an average price of $93.87, for a total transaction of $306,767.16. Following the sale, the executive vice president now 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 is accessible through this hyperlink. In other news, EVP Christopher Carl Nelson sold 3,268 shares of the company’s stock in a transaction on Thursday, March 28th. The shares were sold at an average price of $93.87, for a total value of $306,767.16. Following the transaction, the executive vice president now owns 176 shares of the company’s stock, valued at $16,521.12. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Jason L. Taylor sold 1,805 shares of the 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 owns 10,531 shares in the company, valued at approximately $1,000,445. The disclosure for this sale can be found here. 1.30% of the stock is owned by corporate insiders.

Institutional Trading of Beacon Roofing Supply

Large investors have recently modified their holdings of the business. Vanguard Group Inc. raised its position in Beacon Roofing Supply by 19.3% during the third quarter. Vanguard Group Inc. now owns 5,625,482 shares of the company’s stock valued at $434,118,000 after purchasing an additional 909,819 shares in the last quarter. Norges Bank purchased a new position in shares of Beacon Roofing Supply during the 4th quarter valued at about $59,850,000. Intrinsic Edge Capital Management LLC bought a new stake in Beacon Roofing Supply in the 4th quarter worth approximately $33,416,000. Acadian Asset Management LLC boosted its stake in Beacon Roofing Supply by 4,518.3% in the third quarter. Acadian Asset Management LLC now owns 356,902 shares of the company’s stock worth $27,527,000 after buying an additional 349,174 shares in the last quarter. Finally, Frontier Capital Management Co. LLC boosted its stake in Beacon Roofing Supply by 17.3% in the fourth quarter. Frontier Capital Management Co. LLC now owns 2,126,533 shares of the company’s stock worth $185,051,000 after buying an additional 314,102 shares in the last quarter. 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.