Other analysts have also recently issued research reports about the company. Raymond James set a $38.00 price objective on Beacon Roofing Supply and gave the company a buy rating in a research report on Wednesday, August 7th. BidaskClub cut Beacon Roofing Supply from a buy rating to a hold rating in a research report on Tuesday, October 8th. Wedbush reissued a neutral rating and set a $33.00 price target on shares of Beacon Roofing Supply in a research note on Wednesday, August 7th. Stephens set a $37.00 price objective on Beacon Roofing Supply and gave the company an overweight rating in a research note on Wednesday, August 7th. Finally, Evercore ISI reaffirmed a hold rating and issued a $31.00 price objective on shares of Beacon Roofing Supply in a research note on Thursday, August 8th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and five have assigned a buy rating to the company’s stock. The stock currently has an average rating of Hold and a consensus target price of $34.64.
NASDAQ BECN traded down $0.10 during trading on Wednesday, hitting $32.88. 223,200 shares of the company’s stock were exchanged, compared to its average volume of 685,002. The company has a market cap of $2.26 billion, a PE ratio of 12.18, a P/E/G ratio of 1.09 and a beta of 1.39. The company has a current ratio of 2.07, a quick ratio of 1.17 and a debt-to-equity ratio of 1.59. Beacon Roofing Supply has a fifty-two week low of $25.10 and a fifty-two week high of $40.00. The stock’s 50 day moving average price is $32.37 and its two-hundred day moving average price is $34.34.
In other Beacon Roofing Supply news, major shareholder Cd&R Investment Associates Ix, acquired 3,207,200 shares of the firm’s stock in a transaction that occurred on Wednesday, September 25th. The shares were purchased at an average cost of $32.08 per share, for a total transaction of $102,886,976.00. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 1.20% of the company’s stock.
Institutional investors have recently bought and sold shares of the company. Bank of Montreal Can boosted its stake in Beacon Roofing Supply by 52.4% in the second quarter. Bank of Montreal Can now owns 17,181 shares of the company’s stock valued at $630,000 after acquiring an additional 5,906 shares in the last quarter. Aperio Group LLC boosted its stake in shares of Beacon Roofing Supply by 5.2% during the second quarter. Aperio Group LLC now owns 13,637 shares of the company’s stock worth $501,000 after buying an additional 671 shares during the period. Menta Capital LLC acquired a new stake in shares of Beacon Roofing Supply during the second quarter worth about $400,000. Iridian Asset Management LLC CT boosted its stake in shares of Beacon Roofing Supply by 14.4% during the second quarter. Iridian Asset Management LLC CT now owns 3,712,742 shares of the company’s stock worth $136,332,000 after buying an additional 466,956 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its position in Beacon Roofing Supply by 2.2% in the second quarter. Charles Schwab Investment Management Inc. now owns 652,808 shares of the company’s stock valued at $23,972,000 after purchasing an additional 13,983 shares during the period.
Beacon Roofing Supply Company Profile
Beacon Roofing Supply, Inc, together with its subsidiaries, distributes residential and commercial roofing materials, and other complementary building materials to contractors, home builders, retailers, and building materials suppliers. The company's residential roofing products include asphalt shingles, synthetic slates and tiles, clay and concrete tiles, slates, nail base insulations, metal roofing, felts, synthetic underlayment, wood shingles and shakes, nails and fasteners, metal edgings and flashings, prefabricated flashings, ridges and soffit vents, and solar systems.
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