Beacon Roofing Supply (NASDAQ:BECN - Get Free Report) had its target price increased by Robert W. Baird from $115.00 to $120.00 in a research report issued on Wednesday, Benzinga reports. The firm presently has an "outperform" rating on the stock. Robert W. Baird's price objective points to a potential upside of 28.59% from the company's previous close.
BECN has been the subject of several other research reports. Stephens decreased their price objective on shares of Beacon Roofing Supply from $107.00 to $95.00 and set an "equal weight" rating for the company in a research note on Monday, August 5th. Royal Bank of Canada dropped their price objective on Beacon Roofing Supply from $119.00 to $113.00 and set an "outperform" rating on the stock in a report on Friday, August 2nd. Three research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $114.33.
Read Our Latest Research Report on BECN
Shares of NASDAQ BECN opened at $93.32 on Wednesday. The company has a 50-day moving average of $86.82 and a 200 day moving average of $92.60. The stock has a market cap of $5.94 billion, a PE ratio of -148.13 and a beta of 1.55. The company has a current ratio of 1.90, a quick ratio of 1.09 and a debt-to-equity ratio of 1.75. Beacon Roofing Supply has a 12-month low of $68.50 and a 12-month high of $105.42.
Beacon Roofing Supply (NASDAQ:BECN - Get Free Report) last posted its earnings results on Thursday, August 1st. The company reported $2.32 earnings per share for the quarter, missing the consensus estimate of $2.79 by ($0.47). The company had revenue of $2.67 billion during the quarter, compared to analyst estimates of $2.69 billion. Beacon Roofing Supply had a net margin of 4.11% and a return on equity of 26.02%. The firm's revenue for the quarter was up 6.8% on a year-over-year basis. During the same quarter last year, the business posted $2.66 EPS. As a group, sell-side analysts predict that Beacon Roofing Supply will post 7.37 EPS for the current fiscal year.
In related news, EVP Christopher Carl Nelson sold 1,627 shares of the firm's stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $85.00, for a total value of $138,295.00. Following the completion of the transaction, the executive vice president now owns 320 shares of the company's stock, valued at approximately $27,200. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other Beacon Roofing Supply news, CFO Prithvi Gandhi purchased 5,000 shares of the company's stock in a transaction on Wednesday, August 7th. The shares were bought at an average cost of $82.29 per share, with a total value of $411,450.00. Following the transaction, the chief financial officer now directly owns 5,000 shares in the company, valued at approximately $411,450. The purchase was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP Christopher Carl Nelson sold 1,627 shares of the stock in a transaction dated Friday, August 2nd. The shares were 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 of the company's stock, valued at approximately $27,200. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. 1.30% of the stock is owned by company insiders.
Several hedge funds and other institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. boosted its position in Beacon Roofing Supply by 14.1% in the 1st quarter. Vanguard Group Inc. now owns 7,037,483 shares of the company's stock valued at $689,814,000 after buying an additional 872,216 shares during the last quarter. Boston Partners raised its position in Beacon Roofing Supply by 79.6% in the 1st quarter. Boston Partners now owns 1,285,239 shares of the company's stock valued at $126,082,000 after buying an additional 569,627 shares during the last quarter. Vaughan Nelson Investment Management L.P. grew its position in Beacon Roofing Supply by 6.4% in the second quarter. Vaughan Nelson Investment Management L.P. now owns 811,047 shares of the company's stock valued at $73,400,000 after purchasing an additional 49,040 shares in the last quarter. Goldman Sachs Group Inc. grew its holdings in shares of Beacon Roofing Supply by 11.6% in the 4th quarter. Goldman Sachs Group Inc. now owns 602,287 shares of the company's stock valued at $52,411,000 after acquiring an additional 62,690 shares in the last quarter. Finally, Driehaus Capital Management LLC acquired a new position in shares of Beacon Roofing Supply during the 2nd quarter worth approximately $39,606,000. Institutional investors own 98.45% of the company's stock.
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.
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