An issue of Beacon Roofing Supply, Inc. (NASDAQ:BECN) debt rose 0.7% as a percentage of its face value during trading on Friday. The high-yield issue of debt has a 4.875% coupon and is set to mature on November 1, 2025. The bonds in the issue are now trading at $92.56 and were trading at $92.63 one week ago. Price moves in a company’s debt in credit markets often anticipate parallel moves in its stock price.

BECN has been the subject of several research reports. ValuEngine downgraded Beacon Roofing Supply from a “hold” rating to a “sell” rating in a research report on Thursday, April 26th. Jefferies Financial Group downgraded Beacon Roofing Supply from a “buy” rating to a “hold” rating in a research report on Wednesday, May 9th. Wedbush set a $65.00 target price on Beacon Roofing Supply and gave the company a “buy” rating in a research report on Wednesday, May 9th. JPMorgan Chase & Co. downgraded Beacon Roofing Supply from an “overweight” rating to a “neutral” rating in a research report on Thursday, May 10th. Finally, Northcoast Research downgraded Beacon Roofing Supply from a “buy” rating to a “neutral” rating in a research report on Monday, May 14th. Four equities research analysts have rated the stock with a sell rating, five have issued a hold rating and eight have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $53.80.

Shares of Beacon Roofing Supply stock traded up $0.99 on Friday, reaching $38.66. 1,058,900 shares of the company were exchanged, compared to its average volume of 1,006,311. Beacon Roofing Supply, Inc. has a 1-year low of $35.04 and a 1-year high of $66.47. The company has a market cap of $2.52 billion, a PE ratio of 17.73, a P/E/G ratio of 0.39 and a beta of 1.27. The company has a debt-to-equity ratio of 1.63, a quick ratio of 1.14 and a current ratio of 2.07.

Beacon Roofing Supply (NASDAQ:BECN) last announced its quarterly earnings data on Tuesday, August 7th. The company reported $1.18 EPS for the quarter, missing the Zacks’ consensus estimate of $1.32 by ($0.14). Beacon Roofing Supply had a return on equity of 9.94% and a net margin of 1.65%. The company had revenue of $1.93 billion for the quarter, compared to analyst estimates of $2.07 billion. During the same period in the prior year, the firm posted $0.84 earnings per share. sell-side analysts predict that Beacon Roofing Supply, Inc. will post 3.16 earnings per share for the current fiscal year.

In related news, Director Richard W. Frost acquired 11,820 shares of the stock in a transaction dated Tuesday, June 5th. The stock was acquired at an average cost of $42.46 per share, with a total value of $501,877.20. Following the completion of the transaction, the director now owns 9,207 shares in the company, valued at approximately $390,929.22. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Philip Knisely acquired 6,000 shares of the stock in a transaction dated Thursday, August 16th. The shares were bought at an average cost of $37.14 per share, with a total value of $222,840.00. Following the completion of the transaction, the director now owns 6,000 shares of the company’s stock, valued at approximately $222,840. The disclosure for this purchase can be found here. Over the last three months, insiders have bought 332,220 shares of company stock valued at $12,914,005. Corporate insiders own 0.77% of the company’s stock.

Institutional investors have recently made changes to their positions in the company. BlackRock Inc. boosted its holdings in Beacon Roofing Supply by 1.3% in the second quarter. BlackRock Inc. now owns 5,024,154 shares of the company’s stock valued at $214,131,000 after purchasing an additional 65,371 shares in the last quarter. Frontier Capital Management Co. LLC boosted its holdings in Beacon Roofing Supply by 8.6% in the second quarter. Frontier Capital Management Co. LLC now owns 3,246,090 shares of the company’s stock valued at $138,348,000 after purchasing an additional 256,784 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in Beacon Roofing Supply by 8.1% in the second quarter. Dimensional Fund Advisors LP now owns 2,743,150 shares of the company’s stock valued at $116,912,000 after purchasing an additional 206,232 shares in the last quarter. Jennison Associates LLC boosted its holdings in Beacon Roofing Supply by 4.9% in the second quarter. Jennison Associates LLC now owns 2,232,522 shares of the company’s stock valued at $95,150,000 after purchasing an additional 104,281 shares in the last quarter. Finally, Fisher Asset Management LLC boosted its holdings in Beacon Roofing Supply by 3.6% in the second quarter. Fisher Asset Management LLC now owns 1,847,197 shares of the company’s stock valued at $78,728,000 after purchasing an additional 64,900 shares in the last quarter.

Beacon Roofing Supply Company Profile (NASDAQ:BECN)

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 other accessories.

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