StockNews.com started coverage on shares of Beacon Roofing Supply (NASDAQ:BECN – Get Rating) in a report issued on Thursday. The firm set a “hold” rating on the stock.
Other research analysts have also recently issued research reports about the stock. Robert W. Baird boosted their price target on shares of Beacon Roofing Supply from $69.00 to $72.00 in a report on Friday, February 4th. Raymond James upgraded shares of Beacon Roofing Supply from a “market perform” rating to an “outperform” rating and set a $62.00 price target for the company in a report on Monday, December 6th. JPMorgan Chase & Co. upgraded shares of Beacon Roofing Supply from an “underweight” rating to a “neutral” rating and set a $68.00 price target for the company in a report on Wednesday. Finally, Truist Financial lowered their price target on shares of Beacon Roofing Supply from $58.00 to $55.00 in a report on Monday, February 7th. Nine investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Beacon Roofing Supply currently has a consensus rating of “Hold” and a consensus price target of $61.40.
Shares of BECN stock opened at $61.09 on Thursday. The company has a debt-to-equity ratio of 0.94, a quick ratio of 1.08 and a current ratio of 1.82. The stock has a market capitalization of $4.30 billion, a P/E ratio of 22.88 and a beta of 1.92. The company has a 50 day moving average price of $57.65 and a 200 day moving average price of $55.01. Beacon Roofing Supply has a fifty-two week low of $46.62 and a fifty-two week high of $63.64.
Beacon Roofing Supply (NASDAQ:BECN – Get Rating) last announced its quarterly earnings data on Thursday, February 3rd. The company reported $1.28 earnings per share for the quarter, beating analysts’ consensus estimates of $1.19 by $0.09. Beacon Roofing Supply had a net margin of 3.56% and a return on equity of 23.98%. The firm had revenue of $1.75 billion during the quarter, compared to analysts’ expectations of $1.57 billion. On average, research analysts forecast that Beacon Roofing Supply will post 5.32 EPS for the current fiscal year.
In other Beacon Roofing Supply news, major shareholder Cd&R Investment Associates Ix, purchased 107,456 shares of Beacon Roofing Supply stock in a transaction that occurred on Friday, January 28th. The stock was purchased at an average price of $55.84 per share, for a total transaction of $6,000,343.04. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Clement Munroe Best III sold 4,000 shares of the company’s 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. 0.95% of the stock is owned by corporate insiders.
A number of institutional investors have recently made changes to their positions in the business. Clayton Dubilier & Rice LLC raised its position in Beacon Roofing Supply by 0.8% during the 4th …….
Source: https://www.marketbeat.com/instant-alerts/nasdaq-becn-a-buy-or-sell-right-now-2022-03-2-3/