Beacon Roofing Supply Inc. (NASDAQ:BECN) shares traded 1.15% higher at $80.77 on Wall Street last session.
In accordance with the data, 14 analysts cover Beacon Roofing Supply Inc. (NASDAQ:BECN). The consensus rating among analysts is ‘Overweight’. As we calculate the median target price by taking the range between a high of $108.00 and a low of $86.00, we find $95.00. Given the previous closing price of $79.85, this indicates a potential upside of 18.97 percent. BECN stock price is now -1.71% away from the 50-day moving average and 22.95% away from the 200-day moving average. The market capitalization of the company currently stands at $5.04B.
It has been rated a hold by 9 analysts and a buy by 4. Brokers who have rated the stock have averaged $96.92 as their price target over the next twelve months.
With the price target reduced from $77 to $65, Robert W. Baird Downgraded its rating from Outperform to Neutral for Beacon Roofing Supply Inc. (NASDAQ: BECN).
In other news, CD&R Investment Associates IX,, 10% Owner sold 5,000,000 shares of the company’s stock on Aug 10. The stock was sold for $417,300,000 at an average price of $83.46. Upon completion of the transaction, the 10% Owner now directly owns 10,171,964 shares in the company, valued at $821.59 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Jun 12, EVP & CIO Nelson Christopher Carl sold 8,611 shares of the business’s stock. A total of $628,172 was realized by selling the stock at an average price of $72.95. Insiders disposed of 5,104,476 shares of company stock worth roughly $412.29 million over the past 1 year. A total of 0.20% of the company’s stock is owned by insiders.
There have been several recent changes in the stakes of large investors in BECN stock. A new stake in Beacon Roofing Supply Inc. shares was purchased by BOSTON PARTNERS during the first quarter worth $29,439,000. LORD, ABBETT & CO. LLC invested $4,846,000 in shares of BECN during the first quarter. In the first quarter, LISANTI CAPITAL GROWTH, LLC acquired a new stake in Beacon Roofing Supply Inc. valued at approximately $3,396,000. CONCENTRIC CAPITAL STRATEGIES, LP acquired a new stake in BECN for approximately $2,830,000. VERITION FUND MANAGEMENT LLC purchased a new stake in BECN valued at around $2,814,000 in the second quarter. In total, there are 325 active investors with 105.98% ownership of the company’s stock.
Beacon Roofing Supply Inc. (NASDAQ: BECN) opened at $80.65 on Friday. During the past 12 months, Beacon Roofing Supply Inc. has had a low of $50.42 and a high of $87.46. As of last week, the company has a debt-to-equity ratio of 0.88, a current ratio of 1.70, and a quick ratio of 1.00. According to the stock market information, the enterprise value for the company is $7.69B, which is based on a 13.74 price-to-earnings ratio, a 2.09 price-to-earnings-growth ratio, and a beta of 1.68. The fifty day moving average price for BECN is $82.19 and a two-hundred day moving average price translates $65.81 for the stock.
The latest earnings results from Beacon Roofing Supply Inc. (NASDAQ: BECN) was released for Jun, 2023. According to the Industrial Distribution Company, earnings per share came in at $2.31, beating analysts’ expectations of $2.27 by 0.04. This compares to $2.51 EPS in the same period last year. The net profit margin was 4.50% and return on equity was 20.20% for BECN. The company reported revenue of $2.5 billion for the quarter, compared to $2.36 billion a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 6.17 percent. For the current quarter, analysts expect BECN to generate $2.57B in revenue.
Beacon Roofing Supply Inc.(BECN) Company Profile
Beacon Roofing Supply, Inc., together with its subsidiaries, engages in 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. It 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. The company also provides above grade and below grade membranes and coatings, deck and floor coatings, plaza deck waterproofing products, damp proofing coatings, and air and vapor barriers; tools and equipment, including power and hand tools, ladders and scaffolding, air tools and compressors, nails, screws and fasteners, generators, work wear and safety gear, job site supplies, tool bags and belts, welding and soldering, cleaning supplies, drill bits, and saw blades; and solar panels, mounting hardware, inverters, and storage and batteries. Beacon Roofing Supply, Inc. was founded in 1928 and is headquartered in Herndon, Virginia.
