In a report released on January 12, Michael Dahl from RBC Capital maintained a Buy rating on Beacon Roofing Supply (BECN – Research Report), with a price target of $104.00. The company’s shares closed last Friday at $83.89.
Dahl covers the Consumer Cyclical sector, focusing on stocks such as DR Horton, Lennar, and Mohawk. According to TipRanks, Dahl has an average return of 5.4% and a 56.73% success rate on recommended stocks.
Beacon Roofing Supply has an analyst consensus of Moderate Buy, with a price target consensus of $103.50, implying a 23.38% upside from current levels. In a report released on January 11, J.P. Morgan also maintained a Buy rating on the stock with a $97.00 price target.
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BECN market cap is currently $5.31B and has a P/E ratio of -79.30.
Based on the recent corporate insider activity of 53 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of BECN in relation to earlier this year. Last month, Gosa James J, the President of BECN sold 2,250.00 shares for a total of $180,859.50.
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Beacon Roofing Supply (BECN) Company Description:
Beacon Roofing Supply, Inc. engages in the distribution of residential and non-residential roofing materials. It also distributes complementary building products including siding, windows, specialty exterior building products, insulation, and waterproofing systems for building exteriors. The company was founded on August 22, 1997 and is headquartered in Herndon, VA.
Read More on BECN:
- Beacon price target raised to $122 from $119 at Deutsche Bank
- Beacon price target lowered to $97 from $103 at JPMorgan
- Beacon Announces Appointment of Interim Chief Financial Officer
- Beacon sees FY23 diluted EPS (48c)-(42c) may not compare with consensus $7.38
- Beacon sees Q4 EPS $1.42-$1.48, consensus $1.64
