Robert W. Baird Boosts Beacon Roofing Supply (NASDAQ:BECN) Price Target to $57.00

Beacon Roofing Supply (NASDAQ:BECN) had its price objective boosted by Robert W. Baird from $55.00 to $57.00 in a research note issued to investors on Tuesday morning, The Fly reports. Robert W. Baird currently has an outperform rating on the stock.

BECN has been the topic of a number of other research reports. Zacks Investment Research downgraded Beacon Roofing Supply from a buy rating to a hold rating and set a $45.00 target price on the stock. in a report on Friday, January 22nd. Northcoast Research lowered shares of Beacon Roofing Supply from a buy rating to a neutral rating in a research report on Thursday, April 15th. BMO Capital Markets raised shares of Beacon Roofing Supply from a market perform rating to an outperform rating and lifted their price target for the company from $47.00 to $53.00 in a research report on Tuesday, February 9th. Longbow Research raised shares of Beacon Roofing Supply from a neutral rating to a buy rating and set a $60.00 price target on the stock in a research report on Tuesday, January 26th. Finally, Royal Bank of Canada upgraded shares of Beacon Roofing Supply from an underperform rating to a sector perform rating and raised their price objective for the stock from $37.00 to $48.00 in a research note on Tuesday, February 9th. Six analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Beacon Roofing Supply has an average rating of Buy and a consensus target price of $47.69.

BECN opened at $54.65 on Tuesday. The company has a quick ratio of 1.25, a current ratio of 1.82 and a debt-to-equity ratio of 1.56. The firm’s 50 day moving average is $53.26 and its 200-day moving average is $43.06. The firm has a market capitalization of $3.79 billion, a P/E ratio of -33.12 and a beta of 1.97. Beacon Roofing Supply has a 52-week low of $16.93 and a 52-week high of $57.43.

Beacon Roofing Supply (NASDAQ:BECN) last posted its quarterly earnings data on Sunday, February 7th. The company reported $1.15 earnings per share for the quarter, topping the consensus estimate of $0.60 by $0.55. The business had revenue of $1.83 billion during the quarter, compared to the consensus estimate of $1.70 billion. Beacon Roofing Supply had a negative net margin of 1.16% and a positive return on equity of 10.89%. The company’s quarterly revenue was up 9.0% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.36 earnings per share. Equities analysts expect that Beacon Roofing Supply will post 2.97 earnings per share for the current fiscal year.

In other Beacon Roofing Supply news, insider Jason L. Taylor sold 3,387 shares of the business’s stock in a transaction dated Thursday, March 11th. The stock was sold at an average price of $53.21, for a total transaction of $180,222.27. Following the completion of the sale, the insider now directly owns 8,804 shares of the company’s stock, valued at approximately $468,460.84. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO C Eric Swank sold 31,463 shares of the business’s stock in a transaction dated Friday, February 12th. The stock was sold at an average price of $47.21, for a total value of $1,485,368.23. Following the sale, the chief operating officer now directly owns 50,096 shares of the company’s stock, valued at $2,365,032.16. The disclosure for this sale can be found here. Insiders have sold a total of 76,520 shares of company stock valued at $3,660,984 over the last three months. Company insiders own 1.40% of the company’s stock.

Several institutional investors have recently bought and sold shares of the company. Aperio Group LLC grew its position in shares of Beacon Roofing Supply by 4.6% during the 4th quarter. Aperio Group LLC now owns 9,678 shares of the company’s stock worth $389,000 after buying an additional 425 shares during the period. Nisa Investment Advisors LLC grew its position in shares of Beacon Roofing Supply by 6.0% in the 4th quarter. Nisa Investment Advisors LLC now owns 8,830 shares of the company’s stock valued at $355,000 after purchasing an additional 500 shares during the period. Advisory Services Network LLC acquired a new position in shares of Beacon Roofing Supply in the 4th quarter valued at approximately $45,000. The Manufacturers Life Insurance Company grew its position in shares of Beacon Roofing Supply by 3.8% in the 4th quarter. The Manufacturers Life Insurance Company now owns 33,054 shares of the company’s stock valued at $1,328,000 after purchasing an additional 1,223 shares during the period. Finally, IndexIQ Advisors LLC grew its position in shares of Beacon Roofing Supply by 11.5% in the 4th quarter. IndexIQ Advisors LLC now owns 12,663 shares of the company’s stock valued at $509,000 after purchasing an additional 1,307 shares during the period.

Beacon Roofing Supply Company Profile

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, and retailers. 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.

Further Reading: Debt-To-Equity Ratio

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