Beacon Roofing Supply - BECN Stock Forecast, Price & News

Beacon Roofing Supply, Inc., together with its subsidiaries, distributes residential and non-residential roofing materials, and complementary building products to contractors, home builders, building owners, lumberyards, and retailers. It 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. The company also provides above grade and below grade membranes and coatings, deck and floor coatings, plaza deck waterproofing products, damp proofing coatings, and air and vapor barriers; tools and equipment, including power and hand tools, ladders and scaffolding, air tools and compressors, nails, screws and fasteners, generators, work wear and safety gear, job site supplies, tool bags and belts, welding and soldering, cleaning supplies, drill bits, and saw blades; and solar panels, mounting hardware, inverters, and storage and batteries. As of September 30, 2021, it operated approximately 446 branches in 50 states of the United States and 6 provinces in Canada. Beacon Roofing Supply, Inc. was founded in 1928 and is headquartered in Herndon, Virginia.

Analysts Set New Price Targets

Several equities research analysts recently commented on the company. JPMorgan Chase & Co. dropped their price objective on Beacon Roofing Supply from $66.00 to $59.00 in a research report on Friday, July 15th. Royal Bank of Canada downgraded Beacon Roofing Supply from an "outperform" rating to a "sector perform" rating and lowered their target price for the company from $70.00 to $58.00 in a report on Wednesday, June 22nd. Robert W. Baird increased their target price on Beacon Roofing Supply from $74.00 to $83.00 in a report on Friday, May 6th. Stephens lowered their target price on Beacon Roofing Supply from $72.00 to $64.00 and set an "equal weight" rating on the stock in a report on Monday. Finally, William Blair downgraded Beacon Roofing Supply from an "outperform" rating to a "market perform" rating in a report on Tuesday, July 19th. Eight analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $62.43.

Beacon Roofing Supply Stock Performance

Shares of NASDAQ:BECN traded up $1.09 during trading on Friday, hitting $60.23. The company had a trading volume of 360,935 shares, compared to its average volume of 478,870. The stock has a 50 day simple moving average of $56.30 and a 200 day simple moving average of $57.98. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.92 and a current ratio of 1.91. Beacon Roofing Supply has a 12 month low of $45.71 and a 12 month high of $65.30. The firm has a market capitalization of $3.92 billion, a P/E ratio of 12.58 and a beta of 1.79.

Beacon Roofing Supply (NASDAQ:BECN - Get Rating) last posted its quarterly earnings data on Thursday, August 4th. The company reported $2.80 EPS for the quarter, topping the consensus estimate of $2.36 by $0.44. Beacon Roofing Supply had a return on equity of 29.19% and a net margin of 5.25%. The firm had revenue of $2.36 billion for the quarter, compared to the consensus estimate of $2.28 billion. During the same quarter last year, the company earned $1.59 earnings per share. The business's revenue for the quarter was up 26.0% compared to the same quarter last year. As a group, analysts anticipate that Beacon Roofing Supply will post 6.73 earnings per share for the current year.

Insider Buying and Selling

In other Beacon Roofing Supply news, major shareholder Cd&R Investment Associates Ix, bought 103,931 shares of the business's stock in a transaction that occurred on Friday, July 29th. The stock was purchased at an average price of $57.73 per share, for a total transaction of $5,999,936.63. Following the completion of the transaction, the insider now owns 14,859,579 shares of the company's stock, valued at approximately $857,843,495.67. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.95% of the stock is currently owned by company insiders.