Shares of Beacon Roofing Supply, Inc. (NASDAQ:BECN) have received a consensus rating of “Hold” from the twenty ratings firms that are covering the company, Marketbeat Ratings reports. Two investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and six have given a buy rating to the company. The average 12 month price objective among brokerages that have issued a report on the stock in the last year is $38.79.
A number of research analysts have recently weighed in on the company. Wedbush lowered Beacon Roofing Supply from an “outperform” rating to a “neutral” rating and set a $30.00 price objective on the stock. in a report on Friday, December 14th. Seaport Global Securities set a $34.00 target price on Beacon Roofing Supply and gave the stock a “buy” rating in a report on Tuesday, November 20th. BidaskClub raised Beacon Roofing Supply from a “strong sell” rating to a “sell” rating in a report on Thursday, November 22nd. Raymond James lowered Beacon Roofing Supply from a “strong-buy” rating to an “outperform” rating in a report on Tuesday, November 20th. Finally, Longbow Research lowered Beacon Roofing Supply from a “buy” rating to a “neutral” rating and set a $34.00 target price on the stock. in a report on Wednesday, November 28th.
Shares of BECN stock opened at $30.79 on Tuesday. The company has a current ratio of 1.59, a quick ratio of 0.97 and a debt-to-equity ratio of 1.38. The stock has a market capitalization of $2.12 billion, a PE ratio of 11.40, a PEG ratio of 0.53 and a beta of 1.48. Beacon Roofing Supply has a fifty-two week low of $24.97 and a fifty-two week high of $66.47.
Beacon Roofing Supply (NASDAQ:BECN) last announced its quarterly earnings data on Monday, November 19th. The company reported $1.07 earnings per share for the quarter, missing analysts’ consensus estimates of $1.36 by ($0.29). The firm had revenue of $1.94 billion during the quarter, compared to analyst estimates of $2.01 billion. Beacon Roofing Supply had a net margin of 1.54% and a return on equity of 11.23%. The firm’s revenue for the quarter was up 50.4% on a year-over-year basis. During the same period in the prior year, the company posted $0.93 earnings per share. Research analysts anticipate that Beacon Roofing Supply will post 3.08 EPS for the current year.
In other Beacon Roofing Supply news, CEO Paul Isabella acquired 3,200 shares of the company’s stock in a transaction on Wednesday, November 21st. The shares were bought at an average cost of $31.76 per share, with a total value of $101,632.00. Following the completion of the acquisition, the chief executive officer now owns 143,459 shares in the company, valued at $4,556,257.84. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Christopher Anthony Harrison acquired 4,750 shares of the company’s stock in a transaction on Wednesday, November 21st. The stock was acquired at an average cost of $31.40 per share, for a total transaction of $149,150.00. Following the completion of the acquisition, the executive vice president now owns 19,280 shares of the company’s stock, valued at approximately $605,392. The disclosure for this purchase can be found here. Over the last three months, insiders acquired 23,625 shares of company stock worth $753,469. 0.77% of the stock is owned by corporate insiders.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in BECN. Raymond James Financial Services Advisors Inc. purchased a new position in shares of Beacon Roofing Supply in the second quarter valued at approximately $481,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS purchased a new position in shares of Beacon Roofing Supply in the second quarter valued at approximately $376,000. Rhumbline Advisers lifted its position in shares of Beacon Roofing Supply by 2.2% in the second quarter. Rhumbline Advisers now owns 73,265 shares of the company’s stock valued at $3,123,000 after acquiring an additional 1,544 shares in the last quarter. Bank of New York Mellon Corp lifted its position in shares of Beacon Roofing Supply by 47.3% in the second quarter. Bank of New York Mellon Corp now owns 1,628,136 shares of the company’s stock valued at $69,392,000 after acquiring an additional 522,722 shares in the last quarter. Finally, CIBC World Markets Inc. purchased a new position in shares of Beacon Roofing Supply in the second quarter valued at approximately $277,000.
About Beacon Roofing Supply
Beacon Roofing Supply, Inc, together with its subsidiaries, distributes residential and commercial roofing materials, and other complementary building materials to contractors, home builders, retailers, and building materials suppliers. 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.
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