Beacon Roofing Supply, Inc. (NASDAQ:BECN) Receives Consensus Recommendation of “Hold” from Analysts

Shares of Beacon Roofing Supply, Inc. (NASDAQ:BECN) have earned a consensus recommendation of “Hold” from the thirteen analysts that are currently covering the firm, MarketBeat Ratings reports. Nine equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. The average 12 month price target among brokers that have issued ratings on the stock in the last year is $122.10.

BECN has been the topic of a number of recent research reports. Stifel Nicolaus cut shares of Beacon Roofing Supply from a “buy” rating to a “hold” rating and reduced their price target for the company from $131.00 to $122.55 in a research report on Friday, February 7th. Loop Capital reaffirmed a “hold” rating and set a $124.00 price target on shares of Beacon Roofing Supply in a research report on Friday, March 21st. Zelman & Associates lowered Beacon Roofing Supply from a “strong-buy” rating to a “hold” rating in a research report on Thursday, January 16th. William Blair restated a “market perform” rating on shares of Beacon Roofing Supply in a research note on Thursday, March 20th. Finally, Baird R W lowered Beacon Roofing Supply from a “strong-buy” rating to a “hold” rating in a research note on Thursday, March 20th.

Beacon Roofing Supply Trading Down 0.0 %

Shares of BECN opened at $123.09 on Friday. The stock’s fifty day simple moving average is $119.85 and its 200 day simple moving average is $109.60. Beacon Roofing Supply has a twelve month low of $77.54 and a twelve month high of $123.90. The company has a current ratio of 1.91, a quick ratio of 1.14 and a debt-to-equity ratio of 1.60. The firm has a market capitalization of $7.61 billion, a P/E ratio of 21.04 and a beta of 1.31.

Beacon Roofing Supply (NASDAQ:BECN) last released its quarterly earnings data on Thursday, February 27th. The company reported $1.65 earnings per share for the quarter, missing the consensus estimate of $1.66 by ($0.01). Beacon Roofing Supply had a net margin of 3.86% and a return on equity of 25.32%. The firm had revenue of $2.40 billion during the quarter, compared to analyst estimates of $2.43 billion. On average, equities research analysts forecast that Beacon Roofing Supply will post 7.22 earnings per share for the current year.

Insider Buying and Selling

In other news, insider Jonathan Stuart Bennett sold 8,487 shares of the business’s stock in a transaction that occurred on Monday, April 7th. The stock was sold at an average price of $122.14, for a total value of $1,036,602.18. Following the completion of the sale, the insider now directly owns 22,642 shares in the company, valued at approximately $2,765,493.88. The trade was a 27.26 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Christopher Carl Nelson sold 16,595 shares of the company’s stock in a transaction that occurred on Thursday, April 3rd. The shares were sold at an average price of $123.61, for a total value of $2,051,307.95. Following the sale, the executive vice president now directly owns 463 shares in the company, valued at approximately $57,231.43. This represents a 97.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 54,806 shares of company stock worth $6,745,448. Insiders own 1.30% of the company’s stock.

Institutional Trading of Beacon Roofing Supply

Institutional investors have recently added to or reduced their stakes in the business. Quarry LP boosted its holdings in shares of Beacon Roofing Supply by 180.7% in the 3rd quarter. Quarry LP now owns 306 shares of the company’s stock valued at $26,000 after buying an additional 197 shares during the period. SBI Securities Co. Ltd. bought a new position in Beacon Roofing Supply in the fourth quarter worth about $31,000. Versant Capital Management Inc boosted its stake in Beacon Roofing Supply by 133.7% in the first quarter. Versant Capital Management Inc now owns 388 shares of the company’s stock valued at $48,000 after acquiring an additional 222 shares during the period. Johnson Financial Group Inc. bought a new position in shares of Beacon Roofing Supply during the fourth quarter valued at approximately $54,000. Finally, PNC Financial Services Group Inc. raised its position in shares of Beacon Roofing Supply by 38.1% during the 4th quarter. PNC Financial Services Group Inc. now owns 591 shares of the company’s stock worth $60,000 after purchasing an additional 163 shares during the period. Institutional investors own 98.45% of the company’s stock.

About Beacon Roofing Supply

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.