Beacon Roofing Supply Inc. (NASDAQ:BECN) had its target price decreased by Royal Bank Of Canada from $54.00 to $51.00 in a research report sent to investors on Tuesday. Royal Bank Of Canada currently has an outperform rating on the stock.
A number of other equities analysts have also commented on BECN. Zacks Investment Research upgraded shares of Beacon Roofing Supply from a sell rating to a hold rating in a research report on Friday, November 18th. Wedbush restated a neutral rating and issued a $50.00 price target on shares of Beacon Roofing Supply in a research report on Tuesday, September 6th. Five investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has a consensus rating of Buy and an average target price of $48.90.
Shares of Beacon Roofing Supply (NASDAQ:BECN) opened at 46.08 on Tuesday. The company’s 50-day moving average is $43.40 and its 200-day moving average is $44.22. The company has a market capitalization of $2.76 billion, a PE ratio of 30.93 and a beta of 1.33. Beacon Roofing Supply has a one year low of $32.24 and a one year high of $48.96.
Beacon Roofing Supply (NASDAQ:BECN) last issued its earnings results on Monday, November 21st. The company reported $0.88 earnings per share for the quarter, missing the consensus estimate of $0.91 by $0.03. Beacon Roofing Supply had a net margin of 2.18% and a return on equity of 10.26%. The business had revenue of $1.17 billion for the quarter, compared to analyst estimates of $1.28 billion. During the same quarter last year, the firm posted $0.75 earnings per share. Beacon Roofing Supply’s revenue was up 49.1% on a year-over-year basis. Equities analysts predict that Beacon Roofing Supply will post $2.36 earnings per share for the current year.
In other Beacon Roofing Supply news, Director Carl T. Berquist purchased 5,000 shares of the company’s stock in a transaction that occurred on Wednesday, September 7th. The stock was acquired at an average cost of $44.81 per share, with a total value of $224,050.00. Following the completion of the purchase, the director now directly owns 5,000 shares in the company, valued at approximately $224,050. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 1.15% of the stock is currently owned by company insiders.
Several large investors have recently bought and sold shares of BECN. Frontier Capital Management Co. LLC increased its stake in Beacon Roofing Supply by 38.8% in the second quarter. Frontier Capital Management Co. LLC now owns 3,457,287 shares of the company’s stock worth $157,203,000 after buying an additional 967,076 shares during the period. Adage Capital Partners GP L.L.C. increased its stake in Beacon Roofing Supply by 1,209.0% in the second quarter. Adage Capital Partners GP L.L.C. now owns 1,016,224 shares of the company’s stock worth $46,208,000 after buying an additional 938,591 shares during the period. Victory Capital Management Inc. acquired a new stake in Beacon Roofing Supply during the third quarter worth $35,596,000. Waddell & Reed Financial Inc. increased its stake in Beacon Roofing Supply by 184.8% in the second quarter. Waddell & Reed Financial Inc. now owns 1,063,412 shares of the company’s stock worth $48,353,000 after buying an additional 690,077 shares during the period. Finally, Citadel Advisors LLC increased its stake in Beacon Roofing Supply by 58.3% in the second quarter. Citadel Advisors LLC now owns 1,744,032 shares of the company’s stock worth $79,301,000 after buying an additional 642,273 shares during the period.
About Beacon Roofing Supply