Beacon Roofing Supply (NASDAQ:BECN) Price Target Lowered to $95.00 at Stephens

Beacon Roofing Supply (NASDAQ:BECN) had its price objective lowered by Stephens from $107.00 to $95.00 in a research report released on Monday morning, Benzinga reports. The brokerage currently has an equal weight rating on the stock.

A number of other equities analysts have also weighed in on BECN. Truist Financial lifted their price objective on Beacon Roofing Supply from $90.00 to $95.00 and gave the company a hold rating in a research note on Friday, May 3rd. Benchmark began coverage on Beacon Roofing Supply in a research report on Thursday, April 18th. They issued a buy rating and a $135.00 price objective on the stock. BMO Capital Markets raised their price objective on shares of Beacon Roofing Supply from $95.00 to $120.00 and gave the stock an outperform rating in a research note on Thursday, April 11th. StockNews.com cut shares of Beacon Roofing Supply from a buy rating to a hold rating in a research note on Monday, May 6th. Finally, JPMorgan Chase & Co. raised their price target on shares of Beacon Roofing Supply from $100.00 to $117.00 and gave the company an overweight rating in a research report on Tuesday, May 28th. Three equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of Moderate Buy and a consensus price target of $111.30.

Beacon Roofing Supply Price Performance

Shares of NASDAQ BECN opened at $83.45 on Monday. Beacon Roofing Supply has a 52 week low of $68.50 and a 52 week high of $105.42. The business’s 50 day moving average price is $94.18 and its 200 day moving average price is $92.65. The company has a quick ratio of 1.02, a current ratio of 1.87 and a debt-to-equity ratio of 1.47. The firm has a market cap of $5.31 billion, a P/E ratio of -132.46 and a beta of 1.58.

Beacon Roofing Supply (NASDAQ:BECN) last released its quarterly earnings data on Thursday, August 1st. The company reported $2.32 EPS for the quarter, missing the consensus estimate of $2.79 by ($0.47). Beacon Roofing Supply had a net margin of 4.11% and a return on equity of 25.83%. The business had revenue of $2.67 billion during the quarter, compared to analysts’ expectations of $2.69 billion. During the same period last year, the company earned $2.66 earnings per share. The firm’s revenue was up 6.8% on a year-over-year basis. On average, sell-side analysts expect that Beacon Roofing Supply will post 7.79 earnings per share for the current year.

Insider Buying and Selling at Beacon Roofing Supply

In related news, EVP Christopher Carl Nelson sold 1,627 shares of the company’s stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $85.00, for a total transaction of $138,295.00. Following the completion of the transaction, the executive vice president now owns 320 shares in the company, valued at approximately $27,200. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, EVP Christopher Carl Nelson sold 1,627 shares of Beacon Roofing Supply stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $85.00, for a total value of $138,295.00. Following the sale, the executive vice president now directly owns 320 shares of the company’s stock, valued at $27,200. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Prithvi Gandhi bought 5,000 shares of the company’s stock in a transaction dated Wednesday, August 7th. The shares were acquired at an average cost of $82.29 per share, with a total value of $411,450.00. Following the acquisition, the chief financial officer now directly owns 5,000 shares of the company’s stock, valued at $411,450. The disclosure for this purchase can be found here. Insiders own 1.30% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the business. DekaBank Deutsche Girozentrale acquired a new stake in shares of Beacon Roofing Supply in the 2nd quarter worth $5,075,000. Headlands Technologies LLC raised its stake in Beacon Roofing Supply by 98.1% during the second quarter. Headlands Technologies LLC now owns 9,963 shares of the company’s stock worth $902,000 after purchasing an additional 4,933 shares during the period. Choreo LLC acquired a new position in Beacon Roofing Supply in the 2nd quarter valued at about $665,000. Caprock Group LLC grew its stake in shares of Beacon Roofing Supply by 6.2% in the 2nd quarter. Caprock Group LLC now owns 9,325 shares of the company’s stock valued at $844,000 after buying an additional 548 shares during the period. Finally, Arizona State Retirement System increased its holdings in shares of Beacon Roofing Supply by 7.3% during the 2nd quarter. Arizona State Retirement System now owns 17,757 shares of the company’s stock worth $1,607,000 after buying an additional 1,214 shares during the last quarter. 98.45% of the stock is owned by hedge funds and other institutional investors.

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.