Zacks Research Has Negative Outlook of BECN FY2024 Earnings

Beacon Roofing Supply, Inc. (NASDAQ:BECN) – Zacks Research decreased their FY2024 earnings estimates for shares of Beacon Roofing Supply in a research note issued to investors on Wednesday, November 13th. Zacks Research analyst S. Mukherjee now forecasts that the company will post earnings of $7.23 per share for the year, down from their prior forecast of $7.41. The consensus estimate for Beacon Roofing Supply’s current full-year earnings is $7.25 per share. Zacks Research also issued estimates for Beacon Roofing Supply’s Q3 2025 earnings at $2.99 EPS and Q3 2026 earnings at $3.11 EPS.

Other equities analysts have also recently issued research reports about the company. Stephens dropped their price objective on Beacon Roofing Supply from $107.00 to $95.00 and set an “equal weight” rating for the company in a report on Monday, August 5th. Benchmark reiterated a “buy” rating and set a $140.00 price objective on shares of Beacon Roofing Supply in a report on Friday, November 1st. Robert W. Baird lifted their price objective on shares of Beacon Roofing Supply from $115.00 to $120.00 and gave the company an “outperform” rating in a research note on Wednesday, October 16th. JPMorgan Chase & Co. lifted their price objective on shares of Beacon Roofing Supply from $110.00 to $119.00 and gave the company an “overweight” rating in a report on Thursday, November 7th. Finally, Royal Bank of Canada raised their target price on Beacon Roofing Supply from $113.00 to $114.00 and gave the company an “outperform” rating in a research report on Friday, November 1st. Three analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $115.22.

Beacon Roofing Supply Price Performance

Beacon Roofing Supply stock opened at $98.75 on Monday. Beacon Roofing Supply has a 12-month low of $77.54 and a 12-month high of $105.84. The firm has a 50-day moving average price of $91.58 and a 200-day moving average price of $92.43. The firm has a market capitalization of $6.11 billion, a PE ratio of 16.88 and a beta of 1.54. The company has a current ratio of 1.91, a quick ratio of 1.14 and a debt-to-equity ratio of 1.60.

Insider Transactions at Beacon Roofing Supply

In other news, insider Jason L. Taylor sold 2,600 shares of the company’s stock in a transaction dated Monday, October 7th. The shares were sold at an average price of $90.00, for a total value of $234,000.00. Following the completion of the sale, the insider now directly owns 9,131 shares of the company’s stock, valued at approximately $821,790. This represents a 22.16 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Clement Munroe Best III sold 7,037 shares of Beacon Roofing Supply stock in a transaction on Friday, November 8th. The shares were sold at an average price of $103.14, for a total transaction of $725,796.18. Following the completion of the transaction, the insider now owns 69,449 shares in the company, valued at approximately $7,162,969.86. This trade represents a 9.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 15,274 shares of company stock valued at $1,526,146. 1.30% of the stock is currently owned by company insiders.

Institutional Trading of Beacon Roofing Supply

A number of institutional investors have recently modified their holdings of BECN. Vanguard Group Inc. boosted its stake in shares of Beacon Roofing Supply by 14.1% during the 1st quarter. Vanguard Group Inc. now owns 7,037,483 shares of the company’s stock worth $689,814,000 after acquiring an additional 872,216 shares in the last quarter. FMR LLC grew its position in shares of Beacon Roofing Supply by 17.6% in the third quarter. FMR LLC now owns 6,435,880 shares of the company’s stock valued at $556,253,000 after purchasing an additional 963,633 shares during the period. State Street Corp lifted its position in Beacon Roofing Supply by 1.1% during the third quarter. State Street Corp now owns 1,471,500 shares of the company’s stock worth $127,182,000 after buying an additional 15,505 shares during the period. Boston Partners increased its position in Beacon Roofing Supply by 79.6% during the first quarter. Boston Partners now owns 1,285,239 shares of the company’s stock worth $126,082,000 after purchasing an additional 569,627 shares during the last quarter. Finally, Fisher Asset Management LLC raised its stake in Beacon Roofing Supply by 0.3% during the third quarter. Fisher Asset Management LLC now owns 993,715 shares of the company’s stock worth $85,887,000 after purchasing an additional 2,607 shares during the period. 98.45% of the stock is currently owned by hedge funds and other institutional investors.

About Beacon Roofing Supply

Beacon Roofing Supply, Inc, together with its subsidiaries, engages in the distribution of residential and non-residential roofing materials, and complementary building products to contractors, home builders, building owners, lumberyards, and retailers in the United States and Canada. The company 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.