Beacon Roofing Supply, Inc. (NASDAQ:BECN) Receives Consensus Rating of “Buy” from Analysts
Beacon Roofing Supply, Inc. (NASDAQ: BECN) has received a consensus recommendation of “Buy” from the seventeen research firms currently covering the company, Marketbeat Ratings reports. Five stock analysts rated the stock with a hold recommendation and seven assigned a buy recommendation to the company. The average 12-month target price among brokers who issued a report on the stock in the past year is $ 55.83.
Several stock research analysts have recently commented on the stock. Zacks Investment Research lowered Beacon Roofing Supply’s stock from a “buy” rating to a “hold” rating and set a target price of $ 45.00 for the company. in a research report on Friday, Jan. 22. Northcoast Research reaffirmed a “neutral” rating on shares of Beacon Roofing Supply in a research report on Wednesday, April 21. BMO Capital Markets raised shares of Beacon Roofing Supply from a “market performance” to a “better performing” rating and raised their target price for the company from $ 47.00 to $ 53.00 in a research report on Tuesday, Feb. 9. Loop Capital raised their price target for Beacon Roofing Supply from $ 57.00 to $ 63.00 and gave the company a “buy” rating in a research note on Tuesday, April 20. Finally, Robert W. Baird raised their price target for Beacon Roofing Supply from $ 57.00 to $ 65.00 and gave the company an “outperform” rating in a research note on Friday, May 7.
In other Beacon Roofing Supply news, insider Clement Munroe Best III sold 4,000 shares of Beacon Roofing Supply stock in a transaction on Friday, May 7. The shares were sold at an average price of $ 60.00, for a total transaction of $ 240,000.00. Major shareholder Cd & R Investment Associates Ix also acquired 563,611 shares of the company through a transaction on Thursday, April 29. The shares were purchased at an average cost of $ 53.23 per share, with a total value of $ 30,001,013.53. The disclosure for this purchase can be found here. Insiders sold a total of 28,642 shares of the company with a total value of $ 1,490,204 in the past quarter. Business insiders own 1.40% of the shares of the company.
A number of hedge funds and other institutional investors have recently bought and sold shares of BECN. Renaissance Technologies LLC increased its stake in Beacon Roofing Supply shares by 162.7% during the fourth quarter. Renaissance Technologies LLC now owns 263,157 shares of the company’s stock valued at $ 10,576,000 after purchasing an additional 163,000 shares during the period. Sei Investments Co. increased its stake in Beacon Roofing Supply shares by 12.8% during the third quarter. Sei Investments Co. now owns 204,449 shares of the company’s stock valued at $ 6,352,000 after purchasing an additional 23,138 shares during the period. ExodusPoint Capital Management LP increased its stake in shares of Beacon Roofing Supply by 66.0% during the fourth quarter. ExodusPoint Capital Management LP now owns 12,196 shares of the company’s stock valued at $ 490,000 after purchasing an additional 4,848 shares during the period. Strs Ohio bought a new stake in Beacon Roofing Supply stock worth $ 257,000 in the third quarter. Finally, The Manufacturers Life Insurance Company increased its stake in the shares of Beacon Roofing Supply by 3.8% during the fourth quarter. The Manufacturers Life Insurance Company now owns 33,054 shares of the company’s stock worth $ 1,328,000 after purchasing an additional 1,223 shares during the period.
NASDAQ BECN open Tuesdays for $ 58.41. Beacon Roofing Supply has a 52-week low of $ 21.52 and a 52-week high of $ 60.93. The company has a market cap of $ 4.08 billion, a P / E ratio of -35.40 and a beta of 1.97. 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 company has a 50-day moving average price of $ 56.02 and a 200-day moving average price of $ 45.87.
Beacon Roofing Supply Company Profile
Beacon Roofing Supply, Inc, together with its subsidiaries, distributes residential and non-residential roofing materials and additional construction 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 insulation, metal roofing, felt, synthetic underlayment, wood shingles and shakes, nails and fasteners, metal edging and flashings, prefabricated flashings, backings and vents, and solar systems.
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