Beacon Roofing Supply (NASDAQ:BECN) Price Target Raised to $117.00 at Robert W. Baird

Beacon Roofing Supply (NASDAQ:BECN) had its price target lifted by research analysts at Robert W. Baird from $115.00 to $117.00 in a report issued on Friday, Benzinga reports. The brokerage presently has an “outperform” rating on the stock. Robert W. Baird’s price target would indicate a potential upside of 19.98% from the company’s current price.

Several other equities analysts have also recently weighed in on the company. 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. StockNews.com upgraded shares of Beacon Roofing Supply from a “hold” rating to a “buy” rating in a report on Tuesday, April 16th. Loop Capital increased their price objective on shares of Beacon Roofing Supply from $110.00 to $115.00 and gave the company a “buy” rating in a research note on Monday, April 1st. Benchmark began coverage on Beacon Roofing Supply in a research note on Thursday, April 18th. They issued a “buy” rating and a $135.00 target price on the stock. Finally, TheStreet raised Beacon Roofing Supply from a “c” rating to a “b-” rating in a research report on Tuesday, February 27th. Two analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $103.08.

Beacon Roofing Supply Stock Performance

BECN stock opened at $97.52 on Friday. Beacon Roofing Supply has a 1-year low of $57.01 and a 1-year high of $102.83. The company has a current ratio of 1.85, a quick ratio of 1.06 and a debt-to-equity ratio of 1.30. The stock has a 50-day moving average price of $93.61 and a 200-day moving average price of $85.77. The firm has a market cap of $6.19 billion, a PE ratio of -207.49 and a beta of 1.59.

Beacon Roofing Supply (NASDAQ:BECN) last issued its quarterly earnings results on Tuesday, February 27th. The company reported $1.47 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.69 by ($0.22). The business had revenue of $2.30 billion during the quarter, compared to analyst estimates of $2.27 billion. Beacon Roofing Supply had a net margin of 4.74% and a return on equity of 26.95%. Beacon Roofing Supply’s quarterly revenue was up 16.8% compared to the same quarter last year. During the same period last year, the firm posted $1.18 earnings per share. As a group, equities research analysts expect that Beacon Roofing Supply will post 7.8 earnings per share for the current year.

Insider Buying and Selling

In other Beacon Roofing Supply news, insider Jason L. Taylor sold 1,805 shares of the firm’s stock in a transaction dated Thursday, March 21st. The stock was sold at an average price of $95.00, for a total value of $171,475.00. Following the sale, the insider now owns 10,531 shares of the company’s stock, valued at approximately $1,000,445. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other Beacon Roofing Supply news, EVP Christopher Carl Nelson sold 3,268 shares of Beacon Roofing Supply stock in a transaction dated Thursday, March 28th. The stock was sold at an average price of $93.87, for a total transaction of $306,767.16. Following the completion of the sale, the executive vice president now owns 176 shares of the company’s stock, valued at $16,521.12. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Jason L. Taylor sold 1,805 shares of the firm’s stock in a transaction dated Thursday, March 21st. The shares were sold at an average price of $95.00, for a total value of $171,475.00. Following the transaction, the insider now directly owns 10,531 shares in the company, valued at $1,000,445. The disclosure for this sale can be found here. 1.30% of the stock is owned by company insiders.

Institutional Trading of Beacon Roofing Supply

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Allspring Global Investments Holdings LLC purchased a new position in Beacon Roofing Supply in the 1st quarter worth $26,000. PNC Financial Services Group Inc. increased its stake in shares of Beacon Roofing Supply by 145.0% during the fourth quarter. PNC Financial Services Group Inc. now owns 343 shares of the company’s stock valued at $30,000 after buying an additional 203 shares during the period. Quarry LP raised its holdings in shares of Beacon Roofing Supply by 127.1% during the fourth quarter. Quarry LP now owns 402 shares of the company’s stock valued at $35,000 after acquiring an additional 225 shares in the last quarter. Benjamin F. Edwards & Company Inc. purchased a new stake in Beacon Roofing Supply in the fourth quarter worth $36,000. Finally, Parkside Financial Bank & Trust boosted its holdings in Beacon Roofing Supply by 49.4% in the third quarter. Parkside Financial Bank & Trust now owns 487 shares of the company’s stock valued at $38,000 after acquiring an additional 161 shares in the last quarter. Hedge funds and other 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.