Beacon Roofing Supply (BECN) Stock Price Down 5.3%

Shares of Beacon Roofing Supply, Inc. (NASDAQ:BECN) fell 5.3% during trading on Thursday . The company traded as low as $55.06 and last traded at $55.09. 1,105,233 shares changed hands during trading, an increase of 65% from the average session volume of 671,138 shares. The stock had previously closed at $58.15.

A number of research firms have recently commented on BECN. Jefferies Group reissued a “buy” rating and set a $73.00 target price on shares of Beacon Roofing Supply in a research note on Wednesday, January 17th. Royal Bank of Canada reissued an “outperform” rating and set a $63.00 target price (up previously from $62.00) on shares of Beacon Roofing Supply in a research note on Tuesday, November 21st. Zacks Investment Research cut shares of Beacon Roofing Supply from a “strong-buy” rating to a “hold” rating in a research note on Monday, January 22nd. KeyCorp reissued a “buy” rating and set a $56.00 target price on shares of Beacon Roofing Supply in a research note on Sunday, October 15th. Finally, Robert W. Baird reissued an “outperform” rating and set a $70.00 target price (up previously from $55.00) on shares of Beacon Roofing Supply in a research note on Tuesday, November 21st. One research analyst has rated the stock with a sell rating, four have issued a hold rating and seven have issued a buy rating to the stock. Beacon Roofing Supply has an average rating of “Buy” and an average price target of $58.82.

The stock has a market capitalization of $4,021.03, a PE ratio of 33.80, a price-to-earnings-growth ratio of 1.24 and a beta of 1.35. The company has a quick ratio of 1.35, a current ratio of 2.06 and a debt-to-equity ratio of 0.42.

Beacon Roofing Supply (NASDAQ:BECN) last posted its quarterly earnings results on Thursday, February 8th. The company reported $0.68 earnings per share for the quarter, topping analysts’ consensus estimates of $0.54 by $0.14. The firm had revenue of $1.12 billion for the quarter, compared to analyst estimates of $1.10 billion. Beacon Roofing Supply had a net margin of 2.30% and a return on equity of 9.09%. Beacon Roofing Supply’s quarterly revenue was up 12.0% on a year-over-year basis. During the same period in the previous year, the business posted $0.56 earnings per share. equities analysts expect that Beacon Roofing Supply, Inc. will post 3.19 earnings per share for the current fiscal year.

In related news, CEO Paul Isabella sold 40,000 shares of the business’s stock in a transaction dated Monday, November 27th. The shares were sold at an average price of $60.57, for a total transaction of $2,422,800.00. Following the transaction, the chief executive officer now directly owns 172,046 shares in the company, valued at $10,420,826.22. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Ross D. Cooper sold 2,000 shares of the business’s stock in a transaction dated Tuesday, November 21st. The shares were sold at an average price of $59.75, for a total transaction of $119,500.00. Following the completion of the transaction, the executive vice president now owns 7,056 shares in the company, valued at $421,596. The disclosure for this sale can be found here. Insiders own 0.77% of the company’s stock.

Large investors have recently bought and sold shares of the business. Lord Abbett & CO. LLC boosted its holdings in Beacon Roofing Supply by 10.4% in the 2nd quarter. Lord Abbett & CO. LLC now owns 1,873,615 shares of the company’s stock valued at $91,807,000 after purchasing an additional 176,659 shares during the last quarter. Schwab Charles Investment Management Inc. boosted its holdings in Beacon Roofing Supply by 9.6% in the 3rd quarter. Schwab Charles Investment Management Inc. now owns 402,011 shares of the company’s stock valued at $20,604,000 after purchasing an additional 35,141 shares during the last quarter. Dynamic Technology Lab Private Ltd acquired a new position in Beacon Roofing Supply in the 2nd quarter valued at about $312,000. Point72 Asset Management L.P. acquired a new position in Beacon Roofing Supply in the 3rd quarter valued at about $9,688,000. Finally, Skylands Capital LLC boosted its holdings in Beacon Roofing Supply by 1,144.0% in the 3rd quarter. Skylands Capital LLC now owns 206,500 shares of the company’s stock valued at $10,583,000 after purchasing an additional 189,900 shares during the last quarter.

ILLEGAL ACTIVITY WARNING: “Beacon Roofing Supply (BECN) Stock Price Down 5.3%” was posted by Sports Perspectives and is the sole property of of Sports Perspectives. If you are accessing this report on another website, it was illegally stolen and reposted in violation of US & international copyright and trademark laws. The legal version of this report can be accessed at https://sportsperspectives.com/2018/02/08/beacon-roofing-supply-becn-stock-price-down-5-3.html.

About Beacon Roofing Supply

Beacon Roofing Supply, Inc is engaged in the distribution of residential and non-residential roofing materials in the United States and Canada. It also distributes complementary building products for residential and non-residential building exteriors. Its product portfolio includes residential roofing products, non-residential roofing products and complementary building products.

Receive News & Ratings for Beacon Roofing Supply Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Beacon Roofing Supply and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply