Beacon Roofing Supply (BECN) Shares Down 5.3%

Beacon Roofing Supply, Inc. (NASDAQ:BECN) was down 5.3% during trading on Thursday . The stock traded as low as $55.06 and last traded at $55.09. Approximately 1,105,233 shares traded hands during mid-day trading, an increase of 65% from the average daily volume of 671,138 shares. The stock had previously closed at $58.15.

Several brokerages have recently weighed in on BECN. Wedbush reaffirmed a “neutral” rating and set a $46.00 target price (down from $52.00) on shares of Beacon Roofing Supply in a research note on Friday, November 17th. Citigroup reduced their target price on Beacon Roofing Supply from $65.00 to $60.00 and set a “neutral” rating for the company in a research note on Friday. Zacks Investment Research raised Beacon Roofing Supply from a “hold” rating to a “buy” rating and set a $70.00 target price for the company in a research note on Tuesday, January 23rd. Robert W. Baird reaffirmed an “outperform” rating and set a $70.00 target price (up from $55.00) on shares of Beacon Roofing Supply in a research note on Tuesday, November 21st. Finally, KeyCorp reaffirmed a “buy” rating and set a $56.00 target price on shares of Beacon Roofing Supply in a research note on Sunday, October 15th. One analyst has rated the stock with a sell rating, four have given a hold rating and seven have issued a buy rating to the company’s stock. Beacon Roofing Supply has an average rating of “Buy” and a consensus price target of $59.91.

The company has a market capitalization of $3,744.40, a price-to-earnings ratio of 24.15, a P/E/G ratio of 1.14 and a beta of 1.35. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.35 and a current ratio of 2.06.

Beacon Roofing Supply (NASDAQ:BECN) last announced its quarterly earnings data on Thursday, February 8th. The company reported $0.68 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.54 by $0.14. Beacon Roofing Supply had a return on equity of 10.15% and a net margin of 3.29%. The business had revenue of $1.12 billion during the quarter, compared to analysts’ expectations of $1.10 billion. During the same quarter last year, the business posted $0.56 EPS. The business’s quarterly revenue was up 12.0% compared to the same quarter last year. research analysts anticipate that Beacon Roofing Supply, Inc. will post 3.22 earnings per share for the current fiscal year.

In other news, EVP Ross D. Cooper sold 2,000 shares of the firm’s stock in a transaction dated Tuesday, November 21st. The stock was sold at an average price of $59.75, for a total transaction of $119,500.00. Following the sale, the executive vice president now owns 7,056 shares of the company’s stock, valued at approximately $421,596. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Paul Isabella sold 40,000 shares of the firm’s stock in a transaction dated Monday, November 27th. The stock was sold at an average price of $60.57, for a total value of $2,422,800.00. Following the sale, the chief executive officer now directly owns 172,046 shares in the company, valued at approximately $10,420,826.22. The disclosure for this sale can be found here. 0.77% of the stock is currently owned by company insiders.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in BECN. Zions Bancorporation acquired a new position in Beacon Roofing Supply during the third quarter worth approximately $124,000. Cerebellum GP LLC acquired a new position in Beacon Roofing Supply during the fourth quarter worth approximately $130,000. Advisor Group Inc. increased its position in Beacon Roofing Supply by 8.9% during the second quarter. Advisor Group Inc. now owns 3,877 shares of the company’s stock worth $190,000 after buying an additional 316 shares during the period. Keybank National Association OH acquired a new position in Beacon Roofing Supply during the third quarter worth approximately $210,000. Finally, CAPROCK Group Inc. acquired a new position in Beacon Roofing Supply during the fourth quarter worth approximately $212,000.

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About Beacon Roofing Supply

Beacon Roofing Supply, Inc is engaged in the distribution of residential and non-residential roofing materials in the United States and Canada. It also distributes complementary building products for residential and non-residential building exteriors. Its product portfolio includes residential roofing products, non-residential roofing products and complementary building products.

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