Beacon Roofing Supply, Inc. (NASDAQ: BECN) was rated an average of “Buy” by the seventeen research firms that cover the company, MarketBeat Ratings reports. Five analysts have given the stock a hold rating and eight with a buy rating. The average target price for a year among brokers who covered the stock last year is $ 48.83.
BECN has been the subject of several recent analyst reports. Wolfe Research took on the coverage of shares in Beacon Roofing Supply in a report on Monday March 22nd. They posted a “peer perform” rating on the stock. The Royal Bank of Canada raised Beacon Roofing Supply’s shares from an “underperform” rating to a “sector perform” rating and raised its price target on the stock from $ 37.00 in a report dated Tuesday, February 9th $ 48.00. Truist raised its target price on shares of Beacon Roofing Supply from $ 43.00 to $ 49.00 in a report on Tuesday, February 9th. Longbow Research upgraded Beacon Roofing Supply’s shares from a “neutral” rating to a “buy” rating and in a report on Tuesday, January 26, set a price target of $ 60.00 on the stock. Eventually, Robert W. Baird raised Beacon Roofing Supply’s price target for shares from $ 55.00 to $ 57.00 and rated the stock as “outperforming” in a report on Tuesday.
BECN opened at $ 54.65 on Friday. The stock has a market cap of $ 3.79 billion, a P / E of -33.12, and a beta of 1.97. The company’s 50-day moving average price is $ 53.26 and the company’s 200-day moving average price is $ 43.06. The company has a leverage ratio of 1.56, a current rate of 1.82, and a fast rate of 1.25. Beacon Roofing Supply has a 12 month low of $ 16.93 and a 12 month high of $ 57.43.
They named the 2020 crash 45 days earlier. Nobody expects what they are predicting now …
Beacon Roofing Supply (NASDAQ: BECN) last released its quarterly results on Sunday, February 7th. The company reported earnings per share of $ 1.15 for the quarter, beating the consensus estimate of $ 0.60 by $ 0.55. The company had revenue of $ 1.83 billion for the quarter, compared to analysts’ expectations of $ 1.70 billion. Beacon Roofing Supply had a negative net margin of 1.16% and a positive return on equity of 10.89%. The company’s quarterly sales increased 9.0% year over year. For the same period last year, the company posted earnings of $ 0.36 per share. On average, stock analysts predict that Beacon Roofing Supply will achieve earnings per share of 2.97 in the current fiscal year.
In other news, insider Clement Munroe Best III sold 4,000 shares in the company on Friday, April 16. The shares were sold at an average price of $ 57.00 for a total transaction of $ 228,000.00. Upon completion of the transaction, the Insider now holds 56,002 shares in the company valued at approximately $ 3,192,114. The transaction was disclosed in a legal filing with the SEC, which is available on the SEC website. In addition, EVP Christopher Anthony Harrison sold 20,415 shares of the company in a transaction on Wednesday February 10th. The stock sold at an average price of $ 45.33 for a total transaction of $ 925,411.95. Upon completion of the transaction, the executive vice president now owns 39,194 shares in the company valued at $ 1,776,664.02. The disclosure for this sale can be found here. Insiders sold a total of 76,520 shares in the company last quarter for a total of $ 3,660,984. 1.40% of the shares are currently owned by insiders.
Institutional investors and hedge funds have recently changed their positions in the business. Renaissance Technologies LLC increased its stake in Beacon Roofing Supply by 162.7% in the fourth quarter. Renaissance Technologies LLC now owns 263,157 shares in the company valued at $ 10,576,000 after purchasing an additional 163,000 shares during the reporting period. Sei Investments Co. increased its stake in Beacon Roofing Supply by 12.8% in the third quarter. Sei Investments Co. now owns 204,449 shares in the company valued at $ 6,352,000 after purchasing an additional 23,138 shares during the period. Contravisory Investment Management Inc. acquired a new position in Beacon Roofing Supply in the fourth quarter valued at approximately $ 165,000. ExodusPoint Capital Management LP increased its stake in Beacon Roofing Supply by 66.0% in the fourth quarter. ExodusPoint Capital Management LP now owns 12,196 shares in the company valued at $ 490,000 after purchasing an additional 4,848 shares during the reporting period. Finally, Strs Ohio acquired a new position in Beacon Roofing Supply worth approximately $ 257,000 in the third quarter.
About Beacon Roofing Supply
Beacon Roofing Supply, Inc, through its subsidiaries, distributes residential and non-residential roofing materials and ancillary construction products to contractors, builders, builders and retailers. The company’s residential roofing products include asphalt shingles, synthetic slate and brick, clay and concrete tile, slate, nail base insulation, metal roofing, felt, synthetic underlayment, wood shingles and shakes, nails and fasteners, metal edging and siding, pre-made moldings, ridges and Reveal openings as well as solar systems.
Further reading: Retirement calculator
This instant message alert was generated through narrative science technology and financial data from MarketBeat to give readers the fastest, most accurate coverage possible. This story has been reviewed by the editorial staff of MarketBeat prior to publication. Please send questions or comments about this story to [email protected]
Sponsored Article: What is the net asset value (NAV)?
7 low-priced dividend stocks under $ 10
Recent trading in cheap stocks like GameStop (NYSE: GME) is reminding investors of the high risk associated with these stocks. Often times, when a stock is trading for less than $ 10 (also known as a penny stock) it is trading that low for a reason. The company may not be profitable or, in the case of GameStop, have a business model that is no longer in line with consumer trends.
But that’s not always the case. It is possible to find cheap stocks, even penny stocks, that offer great value. This is especially true if the stock offers investors a dividend. Dividend-earning stocks are a source of diversification for a consumer’s portfolio, especially when the dividend is reinvested. It’s literally like paying yourself to own the stock.
And the stocks in this presentation also seem poised for additional stock price growth that can add to your overall return.
Check out the “7 Inexpensive Dividend Stocks Under $ 10”.