Beacon Roofing Supply, Inc. (NASDAQ:BECN) Receives Average Rating of “Hold” from Analysts

Beacon Roofing Supply, Inc. (NASDAQ:BECN) has been assigned a consensus rating of “Hold” from the seventeen brokerages that are currently covering the firm, MarketBeat.com reports. Two investment analysts have rated the stock with a sell recommendation, ten have assigned a hold recommendation and five have given a buy recommendation to the company. The average 1 year price target among analysts that have updated their coverage on the stock in the last year is $34.23.

BECN has been the subject of a number of recent research reports. Raymond James set a $38.00 target price on Beacon Roofing Supply and gave the stock a “buy” rating in a research report on Wednesday, August 7th. Evercore ISI restated a “hold” rating and set a $31.00 target price on shares of Beacon Roofing Supply in a research report on Thursday, August 8th. Stephens set a $37.00 target price on Beacon Roofing Supply and gave the stock an “overweight” rating in a research report on Wednesday, August 7th. JPMorgan Chase & Co. downgraded Beacon Roofing Supply from a “neutral” rating to an “underweight” rating and set a $29.00 target price for the company. in a research report on Thursday, September 26th. Finally, SunTrust Banks set a $40.00 target price on Beacon Roofing Supply and gave the stock a “buy” rating in a research report on Wednesday, August 7th.

Beacon Roofing Supply stock traded down $2.14 on Thursday, reaching $31.39. The company’s stock had a trading volume of 624,279 shares, compared to its average volume of 719,516. The company has a debt-to-equity ratio of 1.59, a quick ratio of 1.17 and a current ratio of 2.07. The company has a market cap of $2.29 billion, a price-to-earnings ratio of 11.63, a PEG ratio of 1.36 and a beta of 1.44. The business’s fifty day moving average price is $32.27 and its 200 day moving average price is $34.90. Beacon Roofing Supply has a twelve month low of $24.97 and a twelve month high of $40.00.

Beacon Roofing Supply (NASDAQ:BECN) last released its earnings results on Tuesday, August 6th. The company reported $0.92 earnings per share for the quarter, missing analysts’ consensus estimates of $1.24 by ($0.32). The firm had revenue of $1.92 billion for the quarter, compared to the consensus estimate of $1.99 billion. Beacon Roofing Supply had a return on equity of 9.63% and a net margin of 0.15%. The company’s revenue was down .5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.18 EPS. As a group, equities analysts forecast that Beacon Roofing Supply will post 2.39 earnings per share for the current year.

In other Beacon Roofing Supply news, major shareholder Cd&R Investment Associates Ix, bought 3,207,200 shares of the firm’s stock in a transaction on Wednesday, September 25th. The stock was purchased at an average cost of $32.08 per share, with a total value of $102,886,976.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 1.20% of the company’s stock.

A number of large investors have recently bought and sold shares of the business. Clearbridge Investments LLC boosted its position in shares of Beacon Roofing Supply by 0.8% during the first quarter. Clearbridge Investments LLC now owns 70,308 shares of the company’s stock worth $2,261,000 after buying an additional 584 shares during the period. Aperio Group LLC boosted its position 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. Griffin Asset Management Inc. acquired a new position in shares of Beacon Roofing Supply during the second quarter worth about $37,000. Strs Ohio boosted its position in shares of Beacon Roofing Supply by 65.0% during the second quarter. Strs Ohio now owns 3,300 shares of the company’s stock worth $121,000 after buying an additional 1,300 shares during the period. Finally, Eagle Asset Management Inc. boosted its position in shares of Beacon Roofing Supply by 0.7% during the second quarter. Eagle Asset Management Inc. now owns 202,780 shares of the company’s stock worth $7,446,000 after buying an additional 1,464 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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Analyst Recommendations for Beacon Roofing Supply (NASDAQ:BECN)

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