Beacon Roofing Supply (NASDAQ:BECN – Get Rating) had its target price upped by research analysts at Wells Fargo & Company from $59.00 to $67.00 in a research note issued on Thursday, Benzinga reports. The firm currently has an “equal weight” rating on the stock. Wells Fargo & Company‘s price objective indicates a potential upside of 9.32% from the company’s current price.
Several other brokerages also recently commented on BECN. StockNews.com initiated coverage on Beacon Roofing Supply in a research note on Thursday, March 31st. They issued a “hold” rating for the company. Robert W. Baird raised their target price on Beacon Roofing Supply from $72.00 to $74.00 in a research note on Tuesday, April 12th. Truist Financial reduced their target price on Beacon Roofing Supply from $58.00 to $55.00 in a research note on Monday, February 7th. Finally, JPMorgan Chase & Co. reduced their target price on Beacon Roofing Supply from $68.00 to $66.00 and set a “neutral” rating for the company in a research note on Wednesday. Nine analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $62.22.
Shares of Beacon Roofing Supply stock opened at $61.29 on Thursday. The company has a current ratio of 1.82, a quick ratio of 1.08 and a debt-to-equity ratio of 0.94. The business has a 50-day moving average price of $58.78 and a two-hundred day moving average price of $55.88. Beacon Roofing Supply has a 1-year low of $46.62 and a 1-year high of $63.64. The company has a market cap of $4.32 billion, a P/E ratio of 22.96 and a beta of 1.91.
Beacon Roofing Supply (NASDAQ:BECN – Get Rating) last issued its quarterly earnings results on Thursday, February 3rd. The company reported $1.28 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.19 by $0.09. Beacon Roofing Supply had a return on equity of 23.98% and a net margin of 3.56%. The firm had revenue of $1.75 billion during the quarter, compared to the consensus estimate of $1.57 billion. Equities research analysts forecast that Beacon Roofing Supply will post 5.32 EPS for the current fiscal year.
In other Beacon Roofing Supply news, insider Clement Munroe Best III sold 4,000 shares of Beacon Roofing Supply stock in a transaction that occurred on Wednesday, March 16th. The shares were sold at an average price of $63.00, for a total transaction of $252,000.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, major shareholder Cd&R Investment Associates Ix, bought 107,456 shares of the company’s stock in a transaction on Friday, January 28th. The shares were purchased at an average cost of $55.84 per share, for a total transaction of $6,000,343.04. The disclosure for this purchase can be found here. 0.95% of the stock is currently owned by insiders.
Several institutional investors have recently bought and sold shares of the business. Clayton Dubilier & Rice LLC raised its holdings in shares of Beacon Roofing Supply by 0.8% in the 4th quarter. Clayton Dubilier & Rice LLC now owns 14,558,955 shares of the company’s stock worth $834,956,000 after purchasing an additional 116,945 shares during the period. BlackRock Inc. raised its holdings in shares of Beacon Roofing Supply by 2.6% in the 4th quarter. BlackRock Inc. now owns 3,799,773 shares of the company’s stock worth $217,917,000 after purchasing an additional 94,487 shares during the period. American Century Companies Inc. raised its holdings in shares of Beacon Roofing Supply by 14.8% in the 4th quarter. American Century Companies Inc. now owns 3,337,122 shares of the company’s stock worth $191,384,000 after purchasing an additional 429,543 shares during the period. Fuller & Thaler Asset Management Inc. raised its holdings in shares of Beacon Roofing Supply by 9.7% in the 4th quarter. Fuller & Thaler Asset Management Inc. now owns 2,160,787 shares of the company’s stock worth $123,921,000 after purchasing an additional 191,517 shares during the period. Finally, JPMorgan Chase & Co. raised its holdings in shares of Beacon Roofing Supply by 560.5% in the 4th quarter. JPMorgan Chase & Co. now owns 2,085,625 shares of the company’s stock worth $119,611,000 after purchasing an additional 1,769,848 shares during the period.
About Beacon Roofing Supply (Get Rating)
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.
Want More Great Investing Ideas?
Receive News & Ratings for Beacon Roofing Supply Daily – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for Beacon Roofing Supply and related companies with MarketBeat.com’s FREE daily email newsletter.