According to Zacks, “Beacon Roofing’s performance will be hurt by seasonality in business. Falling oil prices could impair roofing manufacturers’ pricing. This will subsequently affect the company’s pricing and affect its margins. Further, Beacon Roofing’s strategy of acquiring its distributors of roofing materials and complementary products has its inherent risks. Moreover, softness in the general market, volatile exchange rates and intense competition remain headwinds for Beacon Roofing in the near future.”
BECN has been the subject of several other research reports. Robert W. Baird reaffirmed an outperform rating and set a $55.00 price objective on shares of Beacon Roofing Supply in a research note on Wednesday, July 6th. Jefferies Group started coverage on shares of Beacon Roofing Supply in a research note on Wednesday, July 6th. They set a hold rating and a $46.00 price objective for the company. Wedbush reaffirmed a neutral rating and set a $50.00 price objective on shares of Beacon Roofing Supply in a research note on Tuesday, September 6th. Finally, BB&T Corp. raised shares of Beacon Roofing Supply from a hold rating to a buy rating and set a $51.00 price objective for the company in a research note on Friday, June 10th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. Beacon Roofing Supply presently has an average rating of Buy and an average target price of $48.44.
Shares of Beacon Roofing Supply (NASDAQ:BECN) traded up 1.292% during trading on Tuesday, hitting $42.715. 151,903 shares of the stock were exchanged. The stock’s 50 day moving average price is $43.93 and its 200-day moving average price is $44.03. Beacon Roofing Supply has a one year low of $32.24 and a one year high of $48.96. The company has a market cap of $2.55 billion, a price-to-earnings ratio of 33.607 and a beta of 1.35.
Beacon Roofing Supply (NASDAQ:BECN) last announced its quarterly earnings data on Tuesday, August 2nd. The company reported $0.77 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.75 by $0.02. Beacon Roofing Supply had a net margin of 1.96% and a return on equity of 9.66%. The company earned $1.15 billion during the quarter, compared to analysts’ expectations of $1.15 billion. During the same quarter in the prior year, the company earned $0.56 EPS. Beacon Roofing Supply’s revenue was up 60.5% compared to the same quarter last year. On average, analysts predict that Beacon Roofing Supply will post $2.13 EPS for the current year.
In other news, EVP Ross D. Cooper sold 8,403 shares of the company’s stock in a transaction that occurred on Thursday, July 7th. The shares were sold at an average price of $47.50, for a total value of $399,142.50. Following the transaction, the executive vice president now directly owns 5,255 shares in the company, valued at approximately $249,612.50. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Paul Isabella sold 45,000 shares of the company’s stock in a transaction that occurred on Friday, August 26th. The stock was sold at an average price of $46.31, for a total transaction of $2,083,950.00. Following the completion of the transaction, the chief executive officer now owns 155,414 shares in the company, valued at $7,197,222.34. The disclosure for this sale can be found here. 1.15% of the stock is currently owned by insiders.
Several institutional investors have recently modified their holdings of the company. Advisor Group Inc. bought a new position in shares of Beacon Roofing Supply during the second quarter valued at approximately $105,000. Springbok Capital Management LLC raised its stake in Beacon Roofing Supply by 275.5% in the first quarter. Springbok Capital Management LLC now owns 2,700 shares of the company’s stock worth $111,000 after buying an additional 1,981 shares during the period. BlackRock Inc. raised its stake in Beacon Roofing Supply by 116.8% in the first quarter. BlackRock Inc. now owns 3,442 shares of the company’s stock worth $141,000 after buying an additional 1,854 shares during the period. Glenmede Trust Co. NA raised its stake in Beacon Roofing Supply by 2.8% in the second quarter. Glenmede Trust Co. NA now owns 3,151 shares of the company’s stock worth $143,000 after buying an additional 86 shares during the period. Finally, Ameritas Investment Partners Inc. acquired a new stake in Beacon Roofing Supply during the second quarter worth about $212,000.
Beacon Roofing Supply Company Profile
Beacon Roofing Supply, Inc is a distributor of residential and non-residential roofing materials in the United States. The Company operates in the wholesale distribution of building materials segment. The Company distributes other complementary building materials, such as waterproofing systems for residential and non-residential building exteriors.
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