Beacon Roofing Supply, Inc. (NASDAQ:BECN) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Shares of Beacon Roofing Supply, Inc. (NASDAQ:BECN) have been assigned an average recommendation of “Moderate Buy” from the ten analysts that are presently covering the firm, Marketbeat.com reports. Two investment analysts have rated the stock with a hold recommendation and eight have assigned a buy recommendation to the company. The average 1 year price target among brokerages that have issued ratings on the stock in the last year is $111.30.

Several research firms recently issued reports on BECN. Royal Bank of Canada cut their price objective on shares of Beacon Roofing Supply from $119.00 to $113.00 and set an “outperform” rating for the company in a research report on Friday, August 2nd. Stephens cut their price target on shares of Beacon Roofing Supply from $107.00 to $95.00 and set an “equal weight” rating for the company in a report on Monday, August 5th. Finally, Robert W. Baird decreased their price objective on Beacon Roofing Supply from $117.00 to $115.00 and set an “outperform” rating on the stock in a report on Friday, August 2nd.

Insider Transactions at Beacon Roofing Supply

In other news, CFO Prithvi Gandhi bought 5,000 shares of the company’s stock in a transaction on Wednesday, August 7th. The stock was bought at an average cost of $82.29 per share, with a total value of $411,450.00. Following the transaction, the chief financial officer now directly owns 5,000 shares in the company, valued at approximately $411,450. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other Beacon Roofing Supply news, CFO Prithvi Gandhi bought 5,000 shares of Beacon Roofing Supply stock in a transaction on Wednesday, August 7th. The shares were bought at an average cost of $82.29 per share, for a total transaction of $411,450.00. Following the acquisition, the chief financial officer now directly owns 5,000 shares in the company, valued at $411,450. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Christopher Carl Nelson sold 1,627 shares of the business’s stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $85.00, for a total transaction of $138,295.00. Following the completion of the transaction, the executive vice president now owns 320 shares of the company’s stock, valued at approximately $27,200. The disclosure for this sale can be found here. Company insiders own 1.30% of the company’s stock.

Institutional Investors Weigh In On Beacon Roofing Supply

Several large investors have recently bought and sold shares of BECN. Vanguard Group Inc. increased its position in shares of Beacon Roofing Supply by 14.1% in the 1st quarter. Vanguard Group Inc. now owns 7,037,483 shares of the company’s stock valued at $689,814,000 after purchasing an additional 872,216 shares during the last quarter. Frontier Capital Management Co. LLC raised 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 valued at $185,051,000 after buying an additional 314,102 shares in the last quarter. Fiduciary Management Inc. WI lifted its holdings in Beacon Roofing Supply by 4.0% during the 4th quarter. Fiduciary Management Inc. WI now owns 1,888,614 shares of the company’s stock worth $164,347,000 after buying an additional 72,472 shares during the last quarter. Boston Partners lifted its holdings in Beacon Roofing Supply by 79.6% during the 1st quarter. Boston Partners now owns 1,285,239 shares of the company’s stock worth $126,082,000 after buying an additional 569,627 shares during the last quarter. Finally, Vaughan Nelson Investment Management L.P. boosted its position in shares of Beacon Roofing Supply by 6.4% during the 2nd 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 in the last quarter. Hedge funds and other institutional investors own 98.45% of the company’s stock.

Beacon Roofing Supply Price Performance

BECN stock opened at $87.72 on Tuesday. Beacon Roofing Supply has a 1 year low of $68.50 and a 1 year high of $105.42. The firm has a market capitalization of $5.58 billion, a PE ratio of -139.24 and a beta of 1.55. The company has a debt-to-equity ratio of 1.75, a current ratio of 1.90 and a quick ratio of 1.09. The business has a 50 day simple moving average of $87.97 and a 200-day simple moving average of $92.75.

Beacon Roofing Supply (NASDAQ:BECN) last issued its earnings results on Thursday, August 1st. The company reported $2.32 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.79 by ($0.47). Beacon Roofing Supply had a net margin of 4.11% and a return on equity of 26.02%. The company had revenue of $2.67 billion during the quarter, compared to analysts’ expectations of $2.69 billion. During the same quarter in the previous year, the company earned $2.66 earnings per share. The firm’s quarterly revenue was up 6.8% compared to the same quarter last year. Equities research analysts anticipate that Beacon Roofing Supply will post 7.39 earnings per share for the current fiscal year.

About Beacon Roofing Supply

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.