Beacon Roofing Supply (BECN) Stock Forecast, Price & News

9 Wall Street research analysts have issued "buy," "hold," and "sell" ratings for Beacon Roofing Supply in the last twelve months. There are currently 1 sell rating, 5 hold ratings and 3 buy ratings for the stock. The consensus among Wall Street research analysts is that investors should "hold" BECN shares. A hold rating indicates that analysts believe investors should maintain any existing positions they have in BECN, but not buy additional shares or sell existing shares.
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9 equities research analysts have issued 12 month price objectives for Beacon Roofing Supply's stock. Their BECN share price forecasts range from $54.00 to $108.00. On average, they expect the company's stock price to reach $86.80 in the next twelve months. This suggests a possible upside of 14.2% from the stock's current price.
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Beacon Roofing Supply's stock was trading at $52.79 at the start of the year. Since then, BECN stock has increased by 44.0% and is now trading at $76.03.
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Beacon Roofing Supply saw a increase in short interest in the month of August. As of August 31st, there was short interest totaling 1,960,000 shares, an increase of 16.0% from the August 15th total of 1,690,000 shares. Based on an average daily volume of 596,700 shares, the days-to-cover ratio is presently 3.3 days. Approximately 3.7% of the shares of the company are short sold.
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The company is scheduled to release its next quarterly earnings announcement on Thursday, November 2nd 2023.
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Beacon Roofing Supply, Inc. (NASDAQ:BECN) announced its quarterly earnings results on Thursday, August, 3rd. The company reported $2.66 EPS for the quarter, topping the consensus estimate of $2.27 by $0.39. The firm earned $2.50 billion during the quarter, compared to analysts' expectations of $2.50 billion. Beacon Roofing Supply had a net margin of 4.69% and a trailing twelve-month return on equity of 25.15%.

ETFs with the largest weight of Beacon Roofing Supply (NASDAQ:BECN) stock in their portfolio include Invesco Dorsey Wright Consumer Cyclicals Momentum ETF (PEZ), Qraft AI-Enhanced Next Value ETF (NVQ), JPMorgan Active Small Cap Value ETF (JPSV), Hoya Capital Housing ETF (HOMZ), First Trust Mid Cap Growth AlphaDEX Fund (FNY), Carbon Collective Climate Solutions U.S. Equity ETF (CCSO), iShares U.S. Home Construction ETF (ITB) and VictoryShares US Small Mid Cap Value Momentum ETF (USVM).

Beacon Roofing Supply issued an update on its FY 2023 earnings guidance on Tuesday, August, 8th. The company provided EPS guidance of for the period. The company issued revenue guidance of $8.77 billion-$8.94 billion, compared to the consensus revenue estimate of $8.73 billion.

62 employees have rated Beacon Roofing Supply Chief Executive Officer Julian Francis on Glassdoor.com. Julian Francis has an approval rating of 27% among the company's employees. This puts Julian Francis in the bottom 10% of approval ratings compared to other CEOs of publicly-traded companies. 71.0% of employees surveyed would recommend working at Beacon Roofing Supply to a friend.

Based on aggregate information from My MarketBeat watchlists, some companies that other Beacon Roofing Supply investors own include AT&T (T), Micron Technology (MU), GW Pharmaceuticals (GWPH), Home Depot (HD), RTX (RTX), Procter & Gamble (PG), Abbott Laboratories (ABT), Adobe (ADBE), Activision Blizzard (ATVI) and General Electric (GE).

Beacon Roofing Supply trades on the NASDAQ under the ticker symbol "BECN."

Beacon Roofing Supply's stock is owned by many different retail and institutional investors. Top institutional shareholders include Clayton Dubilier & Rice LLC (23.84%), Dimensional Fund Advisors LP (5.88%), BlackRock Inc. (5.78%), Frontier Capital Management Co. LLC (3.83%), Fisher Asset Management LLC (1.99%) and State Street Corp (1.72%). Insiders that own company stock include C Eric Swank, Cd&R Investment Associates Ix,, Christine Stroh Reddy, Christopher Anthony Harrison, Christopher Carl Nelson, Clement Munroe Best III, Jason L Taylor, Julian Francis and Stuart A Randle.
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Shares of BECN stock can be purchased through any online brokerage account. Popular online brokerages with access to the U.S. stock market include WeBull, Vanguard Brokerage Services, TD Ameritrade, E*TRADE, Robinhood, Fidelity, and Charles Schwab.
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One share of BECN stock can currently be purchased for approximately $76.03.

Beacon Roofing Supply (NASDAQ:BECN) has a market capitalization of $4.80 billion and generates $8.43 billion in revenue each year. The company earns $458.40 million in net income (profit) each year or $5.05 on an earnings per share basis.

The company employs 7,478 workers across the globe.

Beacon Roofing Supply's mailing address is 505 Huntmar Park Drive Suite 300, Herndon VA, 20170. The official website for the company is www.beaconroofingsupply.com. The company can be reached via phone at (571) 323-3939, via email at jwilson@becn.com, or via fax at 703-437-1919.