Beacon Roofing Supply (NASDAQ:BECN) Reaches New 1-Year High at $97.28

Shares of Beacon Roofing Supply, Inc. (NASDAQ:BECN) hit a new 52-week high during trading on Thursday . The company traded as high as $97.28 and last traded at $96.95, with a volume of 517675 shares. The stock had previously closed at $95.05.

Analysts Set New Price Targets

A number of brokerages recently commented on BECN. William Blair raised Beacon Roofing Supply from a “market perform” rating to an “outperform” rating in a research note on Monday, January 8th. Robert W. Baird raised Beacon Roofing Supply from a “neutral” rating to an “outperform” rating and raised their price objective for the company from $99.00 to $115.00 in a research report on Thursday, February 29th. TheStreet raised Beacon Roofing Supply from a “c” rating to a “b-” rating in a research report on Tuesday, February 27th. StockNews.com raised Beacon Roofing Supply from a “hold” rating to a “buy” rating in a research report on Wednesday, February 28th. Finally, JPMorgan Chase & Co. lowered their price target on Beacon Roofing Supply from $103.00 to $97.00 and set an “overweight” rating for the company in a research report on Thursday, January 11th. Two research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $94.45.

Beacon Roofing Supply Stock Up 3.1 %

The firm has a fifty day moving average of $86.86 and a 200 day moving average of $81.96. The company has a debt-to-equity ratio of 1.30, a current ratio of 1.85 and a quick ratio of 1.06.

Beacon Roofing Supply (NASDAQ:BECN) last released its quarterly earnings data on Tuesday, February 27th. The company reported $1.47 EPS for the quarter, missing the consensus estimate of $1.69 by ($0.22). The business had revenue of $2.30 billion during the quarter, compared to the consensus estimate of $2.27 billion. Beacon Roofing Supply had a return on equity of 26.95% and a net margin of 4.74%. Beacon Roofing Supply’s quarterly revenue was up 16.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.18 earnings per share. On average, sell-side analysts expect that Beacon Roofing Supply, Inc. will post 7.87 EPS for the current year.

Insider Activity

In related news, insider Jason L. Taylor sold 1,805 shares of the business’s stock in a transaction that occurred on Thursday, March 21st. The stock was sold at an average price of $95.00, for a total value of $171,475.00. Following the transaction, the insider now directly owns 10,531 shares of the company’s stock, valued at approximately $1,000,445. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders own 0.95% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Quadrature Capital Ltd raised its holdings in shares of Beacon Roofing Supply by 20.1% during the 4th quarter. Quadrature Capital Ltd now owns 52,012 shares of the company’s stock worth $4,526,000 after acquiring an additional 8,697 shares in the last quarter. PNC Financial Services Group Inc. raised its holdings in shares of Beacon Roofing Supply by 145.0% during the 4th quarter. PNC Financial Services Group Inc. now owns 343 shares of the company’s stock worth $30,000 after acquiring an additional 203 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund raised its holdings in shares of Beacon Roofing Supply by 49.2% during the 4th quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 70,103 shares of the company’s stock worth $6,100,000 after acquiring an additional 23,103 shares in the last quarter. Vanguard Group Inc. raised its holdings in shares of Beacon Roofing Supply by 9.6% during the 4th quarter. Vanguard Group Inc. now owns 6,165,267 shares of the company’s stock worth $536,502,000 after acquiring an additional 539,785 shares in the last quarter. Finally, Goldman Sachs Group Inc. raised its holdings in shares of Beacon Roofing Supply by 11.6% during the 4th quarter. Goldman Sachs Group Inc. now owns 602,287 shares of the company’s stock worth $52,411,000 after acquiring an additional 62,690 shares in the last quarter. 98.45% of the stock is owned by hedge funds and other institutional investors.

Beacon Roofing Supply Company Profile

Beacon Roofing Supply, Inc, together with its subsidiaries, engages in the distribution of residential and non-residential roofing materials, and complementary building products to contractors, home builders, building owners, lumberyards, and retailers in the United States and Canada. The company offers pitched roofing and low slope roof products; gutters and sidings; building materials, such as lumber and composite, skylights and window, plywood and OSB, decking and railing, and HVAC products; and foam board, spray foam, roll, batt, mineral wool, fiberglass, and commercial insulation products, as well as radiant barriers and blown-in insulation and equipment.