Beacon Roofing Supply, Inc. (NASDAQ:BECN) Receives $107.64 Consensus Price Target from Analysts

Beacon Roofing Supply, Inc. (NASDAQ:BECN - Get Free Report) has been given an average rating of "Moderate Buy" by the twelve ratings firms that are covering the firm, MarketBeat reports. Two research analysts have rated the stock with a hold rating and ten have issued a buy rating on the company. The average twelve-month target price among analysts that have updated their coverage on the stock in the last year is $107.64.

Several equities research analysts have weighed in on the company. Truist Financial increased their price target on Beacon Roofing Supply from $90.00 to $95.00 and gave the stock a "hold" rating in a research report on Friday, May 3rd. Robert W. Baird increased their price target on Beacon Roofing Supply from $115.00 to $117.00 and gave the stock an "outperform" rating in a research report on Friday, May 3rd. Loop Capital raised their target price on Beacon Roofing Supply from $110.00 to $115.00 and gave the company a "buy" rating in a research report on Monday, April 1st. BMO Capital Markets raised their target price on Beacon Roofing Supply from $95.00 to $120.00 and gave the company an "outperform" rating in a research report on Thursday, April 11th. Finally, StockNews.com cut Beacon Roofing Supply from a "buy" rating to a "hold" rating in a research report on Monday, May 6th.

Insider Transactions at Beacon Roofing Supply

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 transaction, the executive vice president now directly 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 accessible through this link. In related news, EVP Christopher Carl Nelson sold 3,268 shares of the stock in a transaction that occurred on Thursday, March 28th. The stock was 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 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 through the SEC website. Also, insider Jason L. Taylor sold 1,805 shares of Beacon Roofing Supply stock in a transaction that occurred 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 transaction, 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. Insiders own 1.30% of the company's stock.

Institutional Investors Weigh In On Beacon Roofing Supply

Hedge funds have recently modified their holdings of the company. Plato Investment Management Ltd boosted its holdings in Beacon Roofing Supply by 140.3% in the 1st quarter. Plato Investment Management Ltd now owns 1,110 shares of the company's stock valued at $109,000 after purchasing an additional 648 shares during the last quarter. Zimmer Partners LP purchased a new stake in shares of Beacon Roofing Supply during the 1st quarter valued at approximately $35,777,000. Comerica Bank lifted its holdings in Beacon Roofing Supply by 109.5% in the first quarter. Comerica Bank now owns 89,967 shares of the company's stock valued at $8,818,000 after acquiring an additional 47,028 shares during the last quarter. California State Teachers Retirement System grew its position in Beacon Roofing Supply by 6.2% in the first quarter. California State Teachers Retirement System now owns 60,896 shares of the company's stock worth $5,969,000 after acquiring an additional 3,574 shares during the period. Finally, Interval Partners LP increased its stake in Beacon Roofing Supply by 67.4% during the first quarter. Interval Partners LP now owns 214,352 shares of the company's stock worth $21,011,000 after acquiring an additional 86,315 shares during the last quarter. Hedge funds and other institutional investors own 98.45% of the company's stock.

Beacon Roofing Supply Trading Down 1.6 %

NASDAQ:BECN traded down $1.56 during midday trading on Wednesday, hitting $95.48. The stock had a trading volume of 503,865 shares, compared to its average volume of 706,511. Beacon Roofing Supply has a one year low of $63.42 and a one year high of $103.75. The company has a market capitalization of $6.07 billion, a price-to-earnings ratio of -151.56 and a beta of 1.59. The stock has a 50-day moving average of $96.13 and a 200 day moving average of $88.20. The company has a quick ratio of 1.02, a current ratio of 1.87 and a debt-to-equity ratio of 1.47.

Beacon Roofing Supply (NASDAQ:BECN - Get Free Report) last posted its earnings results on Tuesday, February 27th. The company reported $1.47 earnings per share for the quarter, missing analysts' consensus estimates of $1.69 by ($0.22). The company had revenue of $2.30 billion for the quarter, compared to analysts' expectations of $2.27 billion. Beacon Roofing Supply had a return on equity of 26.39% and a net margin of 4.47%. The firm's quarterly revenue was up 16.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.18 EPS. As a group, sell-side analysts forecast that Beacon Roofing Supply will post 7.8 EPS for the current year.

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.