Beacon Roofing Supply (NASDAQ:BECN) Price Target Increased to $81.00 by Analysts at Deutsche Bank Aktiengesellschaft

Beacon Roofing Supply (NASDAQ:BECN – Get Rating) had its price target lifted by Deutsche Bank Aktiengesellschaft from $79.00 to $81.00 in a report published on Tuesday, The Fly reports.

Other equities research analysts have also issued reports about the stock. StockNews.com started coverage on shares of Beacon Roofing Supply in a research note on Wednesday, October 12th. They set a hold rating on the stock. Stifel Nicolaus increased their target price on shares of Beacon Roofing Supply from $80.00 to $91.00 and gave the stock a buy rating in a research note on Monday, December 19th. Robert W. Baird lowered shares of Beacon Roofing Supply from an outperform rating to a neutral rating and decreased their price target for the company from $77.00 to $65.00 in a research note on Friday, October 14th. Finally, Royal Bank of Canada decreased their price target on shares of Beacon Roofing Supply from $59.00 to $54.00 and set a sector perform rating on the stock in a research note on Monday, November 7th. Seven analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of Hold and a consensus target price of $65.63.

Beacon Roofing Supply Price Performance

Shares of BECN opened at $52.32 on Tuesday. The business’s 50-day moving average is $56.11 and its two-hundred day moving average is $56.18. The company has a market capitalization of $3.40 billion, a P/E ratio of 9.62 and a beta of 1.60. The company has a debt-to-equity ratio of 1.01, a quick ratio of 1.10 and a current ratio of 1.92. Beacon Roofing Supply has a fifty-two week low of $45.71 and a fifty-two week high of $65.30.

Beacon Roofing Supply (NASDAQ:BECN – Get Rating) last posted its earnings results on Thursday, November 3rd. The company reported $2.25 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.10 by $0.15. Beacon Roofing Supply had a net margin of 5.52% and a return on equity of 31.40%. The business had revenue of $2.42 billion for the quarter, compared to analyst estimates of $2.35 billion. Research analysts predict that Beacon Roofing Supply will post 7.09 earnings per share for the current year.

Insider Activity at Beacon Roofing Supply

In other Beacon Roofing Supply news, major shareholder Cd&R Investment Associates Ix, bought 105,320 shares of the firm’s stock in a transaction on Friday, October 28th. The shares were acquired at an average cost of $56.97 per share, with a total value of $6,000,080.40. Following the purchase, the insider now directly owns 14,964,899 shares of the company’s stock, valued at approximately $852,550,296.03. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. 0.95% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of BECN. Advisor Group Holdings Inc. lifted its stake in Beacon Roofing Supply by 37.5% in the 1st quarter. Advisor Group Holdings Inc. now owns 1,101 shares of the company’s stock worth $65,000 after purchasing an additional 300 shares in the last quarter. Raymond James & Associates lifted its stake in Beacon Roofing Supply by 11.6% in the 1st quarter. Raymond James & Associates now owns 13,449 shares of the company’s stock worth $797,000 after purchasing an additional 1,397 shares in the last quarter. Raymond James Financial Services Advisors Inc. acquired a new stake in shares of Beacon Roofing Supply during the 1st quarter worth approximately $317,000. AlphaCrest Capital Management LLC increased its holdings in shares of Beacon Roofing Supply by 4.0% during the 1st quarter. AlphaCrest Capital Management LLC now owns 7,063 shares of the company’s stock worth $419,000 after buying an additional 273 shares during the last quarter. Finally, Bank of Montreal Can increased its holdings in shares of Beacon Roofing Supply by 27.0% during the 1st quarter. Bank of Montreal Can now owns 10,659 shares of the company’s stock worth $665,000 after buying an additional 2,267 shares during the last quarter.

About Beacon Roofing Supply

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Beacon Roofing Supply, Inc, together with its subsidiaries, distributes residential and non-residential roofing materials, and complementary building products to contractors, home builders, building owners, lumberyards, and retailers. It 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.