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

Beacon Roofing Supply (NASDAQ:BECN) had its target price decreased by Stephens from $107.00 to $95.00 in a research note published on Monday morning, Benzinga reports. Stephens currently has an equal weight rating on the stock.

Other analysts have also recently issued research reports about the stock. StockNews.com cut shares of Beacon Roofing Supply from a buy rating to a hold rating in a research note on Monday, May 6th. Royal Bank of Canada dropped their price target on shares of Beacon Roofing Supply from $119.00 to $113.00 and set an outperform rating on the stock in a research report on Friday. Benchmark started coverage on Beacon Roofing Supply in a research note on Thursday, April 18th. They set a buy rating and a $135.00 target price for the company. Truist Financial lifted their price target on shares of Beacon Roofing Supply from $90.00 to $95.00 and gave the company a hold rating in a research note on Friday, May 3rd. Finally, BMO Capital Markets raised their price objective on Beacon Roofing Supply from $95.00 to $120.00 and gave the company an outperform rating in a research note on Thursday, April 11th. Three analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Beacon Roofing Supply presently has a consensus rating of Moderate Buy and a consensus target price of $109.67.

Beacon Roofing Supply Stock Performance

NASDAQ:BECN traded up $1.42 during mid-day trading on Monday, reaching $82.21. 1,351,929 shares of the company’s stock were exchanged, compared to its average volume of 729,161. The business’s fifty day simple moving average is $94.73 and its two-hundred day simple moving average is $92.80. Beacon Roofing Supply has a one year low of $68.50 and a one year high of $105.42. The company has a debt-to-equity ratio of 1.47, a quick ratio of 1.02 and a current ratio of 1.87. The firm has a market capitalization of $5.23 billion, a PE ratio of -130.49 and a beta of 1.58.

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

Insider Buying and Selling

In other news, EVP Christopher Carl Nelson sold 1,627 shares of Beacon Roofing Supply stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $85.00, for a total transaction of $138,295.00. Following the completion of the sale, the executive vice president now owns 320 shares in the company, valued at approximately $27,200. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. 1.30% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Beacon Roofing Supply

Hedge funds and other institutional investors have recently modified their holdings of the stock. Allspring Global Investments Holdings LLC purchased a new position in Beacon Roofing Supply during the 1st quarter valued at about $26,000. PNC Financial Services Group Inc. lifted its stake in Beacon Roofing Supply by 145.0% in the fourth quarter. PNC Financial Services Group Inc. now owns 343 shares of the company’s stock worth $30,000 after acquiring an additional 203 shares during the period. Quarry LP increased its position in Beacon Roofing Supply by 127.1% during the 4th quarter. Quarry LP now owns 402 shares of the company’s stock valued at $35,000 after purchasing an additional 225 shares during the period. Benjamin F. Edwards & Company Inc. bought a new position in Beacon Roofing Supply in the fourth quarter worth about $36,000. Finally, Parkside Financial Bank & Trust boosted its position in Beacon Roofing Supply by 86.9% during the 4th quarter. Parkside Financial Bank & Trust now owns 910 shares of the company’s stock valued at $79,000 after acquiring an additional 423 shares in the last quarter. Institutional investors own 98.45% of the company’s stock.

Beacon Roofing Supply Company Profile

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.