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.

Beacon Roofing Supply Price Performance

NASDAQ:BECN traded up $1.09 on Friday, reaching $60.23. The company's stock had a trading volume of 360,935 shares, compared to its average volume of 482,378. Beacon Roofing Supply has a 52 week low of $45.71 and a 52 week high of $65.30. The company has a current ratio of 1.91, a quick ratio of 0.92 and a debt-to-equity ratio of 1.24. The firm has a market cap of $3.91 billion, a PE ratio of 12.79 and a beta of 1.79. The business has a 50-day moving average price of $56.25 and a 200 day moving average price of $58.01.

Beacon Roofing Supply (NASDAQ:BECN - Get Rating) last posted its earnings results 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 business had revenue of $2.36 billion during the quarter, compared to the consensus estimate of $2.28 billion. During the same quarter last year, the company earned $1.59 EPS. Beacon Roofing Supply's revenue was up 26.0% on a year-over-year basis. Sell-side analysts expect that Beacon Roofing Supply will post 6.73 EPS for the current year.

Analysts Set New Price Targets

BECN has been the topic of a number of research analyst reports. Royal Bank of Canada downgraded Beacon Roofing Supply from an "outperform" rating to a "sector perform" rating and lowered their price target for the company from $70.00 to $58.00 in a report on Wednesday, June 22nd. Robert W. Baird raised their price target on shares of Beacon Roofing Supply from $74.00 to $83.00 in a report on Friday, May 6th. William Blair lowered shares of Beacon Roofing Supply from an "outperform" rating to a "market perform" rating in a research note on Tuesday, July 19th. Stephens dropped their price objective on Beacon Roofing Supply from $72.00 to $64.00 and set an "equal weight" rating on the stock in a report on Monday, August 8th. Finally, Wells Fargo & Company lowered their target price on shares of Beacon Roofing Supply from $67.00 to $56.00 and set an "equal weight" rating on the stock in a research report on Tuesday, June 28th. Seven analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $62.43.

Insider Transactions at Beacon Roofing Supply

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