Beacon Roofing Supply, Inc. (NASDAQ:BECN – Get Rating) gapped down prior to trading on Tuesday . The stock had previously closed at $61.75, but opened at $57.47. Beacon Roofing Supply shares last traded at $57.47, with a volume of 20 shares changing hands.
BECN has been the subject of a number of recent research reports. StockNews.com initiated coverage on shares of Beacon Roofing Supply in a report on Thursday, March 31st. They issued a “hold” rating for the company. Wells Fargo & Company upped their price target on shares of Beacon Roofing Supply from $59.00 to $67.00 and gave the stock an “equal weight” rating in a report on Thursday, April 21st. JPMorgan Chase & Co. cut their price target on shares of Beacon Roofing Supply from $68.00 to $66.00 and set a “neutral” rating for the company in a report on Wednesday, April 20th. Finally, Robert W. Baird upped their price target on shares of Beacon Roofing Supply from $74.00 to $83.00 in a report on Friday, May 6th. Seven equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $64.25.
The company has a current ratio of 1.85, a quick ratio of 0.92 and a debt-to-equity ratio of 1.01. The company’s 50-day simple moving average is $60.44 and its 200-day simple moving average is $57.88. The stock has a market capitalization of $3.88 billion, a price-to-earnings ratio of 16.61 and a beta of 1.77.
Beacon Roofing Supply (NASDAQ:BECN – Get Rating) last announced its quarterly earnings results on Thursday, May 5th. The company reported $0.89 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.49 by $0.40. Beacon Roofing Supply had a net margin of 4.24% and a return on equity of 26.21%. The firm had revenue of $1.69 billion during the quarter, compared to analysts’ expectations of $1.43 billion. On average, equities research analysts expect that Beacon Roofing Supply, Inc. will post 6.58 earnings per share for the current fiscal year.
In other news, major shareholder Cd&R Investment Associates Ix, acquired 102,219 shares of the firm’s stock in a transaction dated Friday, April 29th. The stock was bought at an average cost of $58.70 per share, for a total transaction of $6,000,255.30. Following the completion of the transaction, the insider now directly owns 14,755,648 shares in the company, valued at approximately $866,156,537.60. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Clement Munroe Best III sold 4,000 shares of the stock in a transaction on Wednesday, March 16th. The stock was sold at an average price of $63.00, for a total transaction of $252,000.00. The disclosure for this sale can be found here. Corporate insiders own 0.95% of the company’s stock.
A number of large investors have recently bought and sold shares of BECN. Ellevest Inc. lifted its stake in shares of Beacon Roofing …….