Shares of Beacon Roofing Supply, Inc. (NASDAQ:BECN) have received a consensus rating of “Hold” from the seventeen ratings firms that are covering the firm, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell rating, twelve have given a hold rating and four have issued a buy rating on the company. The average twelve-month target price among brokerages that have updated their coverage on the stock in the last year is $37.46.
BECN has been the topic of a number of research reports. Robert W. Baird raised their price target on Thermo Fisher Scientific from $270.00 to $288.00 and gave the company an “outperform” rating in a research report on Tuesday, March 26th. Wedbush restated an “outperform” rating on shares of Purple Innovation in a research report on Wednesday, May 8th. Raymond James raised their price target on Whitecap Resources from C$8.50 to C$8.75 and gave the company a “strong-buy” rating in a research report on Monday, June 10th. Royal Bank of Canada raised their price target on Summit Industrial Income REIT from C$11.50 to C$12.50 and gave the company a “sector perform” rating in a research report on Thursday, May 9th. Finally, ValuEngine downgraded Zynerba Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Tuesday, May 28th.
NASDAQ BECN traded down $0.09 during trading hours on Friday, reaching $35.41. 319,893 shares of the stock traded hands, compared to its average volume of 542,721. The firm has a 50 day moving average price of $35.54. Beacon Roofing Supply has a 1 year low of $24.97 and a 1 year high of $43.91. The company has a debt-to-equity ratio of 1.62, a quick ratio of 1.22 and a current ratio of 2.27. The firm has a market cap of $2.43 billion, a P/E ratio of 13.11, a price-to-earnings-growth ratio of 1.19 and a beta of 1.45.
In other Beacon Roofing Supply news, major shareholder Cd&R Investment Associates Ix, purchased 4,625,998 shares of Beacon Roofing Supply stock in a transaction that occurred on Friday, June 28th. The shares were bought at an average price of $34.17 per share, for a total transaction of $158,070,351.66. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, COO C Eric Swank sold 5,250 shares of the business’s stock in a transaction dated Friday, May 17th. The shares were sold at an average price of $38.14, for a total value of $200,235.00. Following the transaction, the chief operating officer now owns 34,949 shares in the company, valued at approximately $1,332,954.86. The disclosure for this sale can be found here. 1.20% of the stock is currently owned by insiders.
A number of large investors have recently made changes to their positions in the stock. BlackRock Inc. increased its holdings in Beacon Roofing Supply by 4.3% during the 4th quarter. BlackRock Inc. now owns 5,031,890 shares of the company’s stock valued at $159,613,000 after purchasing an additional 207,663 shares during the period. Dimensional Fund Advisors LP increased its holdings in Beacon Roofing Supply by 27.8% during the 4th quarter. Dimensional Fund Advisors LP now owns 3,907,782 shares of the company’s stock valued at $123,954,000 after purchasing an additional 849,333 shares during the period. Iridian Asset Management LLC CT purchased a new position in Beacon Roofing Supply during the 1st quarter valued at about $104,384,000. Northern Trust Corp increased its holdings in Beacon Roofing Supply by 2.8% during the 4th quarter. Northern Trust Corp now owns 1,156,301 shares of the company’s stock valued at $36,679,000 after purchasing an additional 31,907 shares during the period. Finally, Marshall Wace North America L.P. bought a new stake in Beacon Roofing Supply during the 1st quarter valued at approximately $36,419,000.
Beacon Roofing Supply Company Profile
Beacon Roofing Supply, Inc, together with its subsidiaries, distributes residential and commercial roofing materials, and other complementary building materials to contractors, home builders, retailers, and building materials suppliers. The company's residential roofing products include asphalt shingles, synthetic slates and tiles, clay and concrete tiles, slates, nail base insulations, metal roofing, felts, synthetic underlayment, wood shingles and shakes, nails and fasteners, metal edgings and flashings, prefabricated flashings, ridges and soffit vents, and solar systems.
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