Beacon Roofing Supply (NASDAQ:BECN) had its target price boosted by investment analysts at Stephens from $56.00 to $62.00 in a report issued on Wednesday, The Fly reports. The brokerage presently has an "equal weight" rating on the stock. Stephens' price objective indicates a potential upside of 11.97% from the stock's previous close.
Several other research firms have also recently weighed in on BECN. Jefferies Financial Group cut Beacon Roofing Supply from a "buy" rating to a "hold" rating and lowered their price objective for the stock from $69.00 to $56.00 in a research report on Tuesday, August 10th. Royal Bank of Canada raised Beacon Roofing Supply from a "sector perform" rating to an "outperform" rating and set a $63.00 target price on the stock in a report on Monday, October 18th. They noted that the move was a valuation call. Berenberg Bank lowered Beacon Roofing Supply from a "buy" rating to a "hold" rating in a report on Thursday, August 12th. TheStreet raised Beacon Roofing Supply from a "c+" rating to a "b" rating in a report on Friday, August 6th. Finally, Zacks Investment Research lowered Beacon Roofing Supply from a "buy" rating to a "hold" rating and set a $55.00 target price on the stock. in a report on Wednesday, August 11th. Six research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Buy" and a consensus target price of $59.77.
BECN stock traded up $0.12 during trading hours on Wednesday, hitting $55.37. 11,747 shares of the stock were exchanged, compared to its average volume of 353,078. The company has a current ratio of 1.65, a quick ratio of 0.93 and a debt-to-equity ratio of 0.99. The firm has a market capitalization of $3.88 billion, a P/E ratio of -41.63 and a beta of 1.99. The company has a 50-day simple moving average of $52.69 and a two-hundred day simple moving average of $53.37. Beacon Roofing Supply has a 12 month low of $35.86 and a 12 month high of $60.93.
Beacon Roofing Supply (NASDAQ:BECN) last posted its quarterly earnings data on Thursday, November 18th. The company reported $1.22 earnings per share for the quarter, missing the consensus estimate of $1.54 by ($0.32). The firm had revenue of $1.88 billion for the quarter, compared to the consensus estimate of $1.88 billion. Beacon Roofing Supply had a positive return on equity of 22.81% and a negative net margin of 0.69%. The firm's quarterly revenue was up 6.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.30 EPS. On average, equities research analysts predict that Beacon Roofing Supply will post 4.69 earnings per share for the current year.
In other news, major shareholder Cd&R Investment Associates Ix, bought 116,945 shares of the company's stock in a transaction on Friday, October 29th. The stock was purchased at an average cost of $51.31 per share, for a total transaction of $6,000,447.95. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 1.00% of the stock is currently owned by company insiders.
Institutional investors have recently bought and sold shares of the business. FMR LLC raised its position in shares of Beacon Roofing Supply by 31.6% during the second quarter. FMR LLC now owns 7,074,317 shares of the company's stock worth $376,709,000 after acquiring an additional 1,698,745 shares during the last quarter. American Century Companies Inc. raised its position in shares of Beacon Roofing Supply by 125.9% during the second quarter. American Century Companies Inc. now owns 2,243,708 shares of the company's stock worth $119,477,000 after acquiring an additional 1,250,650 shares during the last quarter. Clayton Dubilier & Rice LLC raised its position in shares of Beacon Roofing Supply by 4.1% during the second quarter. Clayton Dubilier & Rice LLC now owns 14,333,954 shares of the company's stock worth $763,283,000 after acquiring an additional 563,611 shares during the last quarter. Macquarie Group Ltd. raised its position in shares of Beacon Roofing Supply by 47,383.7% during the second quarter. Macquarie Group Ltd. now owns 487,183 shares of the company's stock worth $25,943,000 after acquiring an additional 486,157 shares during the last quarter. Finally, Vanguard Group Inc. raised its position in shares of Beacon Roofing Supply by 6.9% during the second quarter. Vanguard Group Inc. now owns 5,640,860 shares of the company's stock worth $300,376,000 after acquiring an additional 363,568 shares during the last quarter.
About Beacon Roofing Supply
Beacon Roofing Supply, Inc engages in the distribution of residential and non-residential roofing materials. It also distributes complementary building products including siding, windows, specialty exterior building products, insulation, and waterproofing systems for building exteriors. The company was founded on August 22, 1997 and is headquartered in Herndon, VA.
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