Reassessing The Changing Outlook For Beacon Roofing Supply Inc (BECN)

Currently, there are 63.30M common shares owned by the public and among those 63.13M shares have been available to trade.

The company’s stock has a 5-day price change of -0.24% and 4.42% over the past three months. BECN shares are trading 11.24% year to date (YTD), with the 12-month market performance up to 21.85% higher. It has a 12-month low price of $68.50 and touched a high of $103.75 over the same period. BECN has an average intraday trading volume of 636.70K shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by -0.29%, 0.14%, and 12.56% respectively.

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Institutional ownership of Beacon Roofing Supply Inc (NASDAQ: BECN) shares accounts for 96.76% of the company’s 63.30M shares outstanding.

It has a market capitalization of $6.16B and a beta (3y monthly) value of 1.59. The earnings-per-share (ttm) stands at -$0.63. Price movements for the stock have been influenced by the stock’s volatility, which stands at 3.24% over the week and 2.45% over the month.

Earnings per share for the fiscal year are expected to decrease by -4.34%, and 9.40% over the next financial year.

Looking at the support for the BECN, a number of firms have released research notes about the stock. The Benchmark Company stated their Buy rating for the stock in a research note on April 18, 2024, with the firm’s price target at $135. Robert W. Baird coverage for the Beacon Roofing Supply Inc (BECN) stock in a research note released on February 29, 2024 offered a Outperform rating with a price target of $115. William Blair was of a view on January 08, 2024 that the stock is Outperform, while JP Morgan gave the stock Overweight rating on December 14, 2023, issuing a price target of $86- $103. RBC Capital Mkts on their part issued Outperform rating on October 05, 2023.

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