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.”
A number of other research firms also recently issued reports on BECN. Robert W. Baird reissued an outperform rating and issued a $55.00 price objective on shares of Beacon Roofing Supply in a report on Wednesday, July 6th. Wedbush reissued a neutral rating and issued a $50.00 price objective on shares of Beacon Roofing Supply in a report on Tuesday, September 6th. Jefferies Group assumed coverage on shares of Beacon Roofing Supply in a report on Wednesday, July 6th. They issued a hold rating and a $46.00 price objective for the company. 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 report on Friday, June 10th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company has an average rating of Buy and a consensus target price of $48.44.
Shares of Beacon Roofing Supply (NASDAQ:BECN) opened at 42.83 on Tuesday. The company has a 50 day moving average of $43.63 and a 200-day moving average of $44.03. Beacon Roofing Supply has a one year low of $32.24 and a one year high of $48.96. The firm has a market cap of $2.56 billion, a price-to-earnings ratio of 33.70 and a beta of 1.35.
Beacon Roofing Supply (NASDAQ:BECN) last posted its quarterly earnings data on Tuesday, August 2nd. The company reported $0.77 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.75 by $0.02. The firm earned $1.15 billion during the quarter, compared to the consensus estimate of $1.15 billion. Beacon Roofing Supply had a net margin of 1.96% and a return on equity of 9.66%. The business’s revenue for the quarter was up 60.5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.56 EPS. On average, analysts expect that Beacon Roofing Supply will post $2.13 EPS for the current year.
In related news, Director Robert M. Mclaughlin acquired 6,000 shares of the stock in a transaction that occurred on Tuesday, August 9th. The stock was acquired at an average cost of $45.79 per share, for a total transaction of $274,740.00. Following the transaction, the director now directly owns 6,000 shares in the company, valued at $274,740. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Carl T. Berquist acquired 5,000 shares of the stock in a transaction that occurred on Wednesday, September 7th. The shares were bought at an average price of $44.81 per share, with a total value of $224,050.00. Following the completion of the transaction, the director now owns 5,000 shares in the company, valued at $224,050. The disclosure for this purchase can be found here. Corporate insiders own 1.15% of the company’s stock.
Institutional investors have recently added to or reduced their stakes in the company. Cortina Asset Management LLC boosted its position in Beacon Roofing Supply by 134.1% in the second quarter. Cortina Asset Management LLC now owns 659,824 shares of the company’s stock worth $30,002,000 after buying an additional 377,971 shares in the last quarter. RS Investment Management Co. LLC bought a new position in Beacon Roofing Supply during the second quarter worth about $23,097,000. Eagle Asset Management Inc. boosted its position in Beacon Roofing Supply by 12.6% in the second quarter. Eagle Asset Management Inc. now owns 71,009 shares of the company’s stock worth $3,228,000 after buying an additional 7,959 shares in the last quarter. Los Angeles Capital Management & Equity Research Inc. bought a new position in Beacon Roofing Supply during the second quarter worth about $424,000. Finally, Schonfeld Strategic Advisors LLC bought a new position in Beacon Roofing Supply during the first quarter worth about $299,000.
About Beacon Roofing Supply
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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