Beacon Roofing Supply (NASDAQ:BECN) Trading Down 6.4%

Shares of Beacon Roofing Supply, Inc. (NASDAQ:BECN) were down 6.4% during trading on Tuesday . The company traded as low as $31.36 and last traded at $31.39, approximately 624,279 shares were traded during trading. A decline of 13% from the average daily volume of 719,516 shares. The stock had previously closed at $33.53.

A number of analysts have recently commented on BECN shares. SunTrust Banks set a $40.00 price objective on Beacon Roofing Supply and gave the stock a “buy” rating in a report on Wednesday, August 7th. BidaskClub upgraded Beacon Roofing Supply from a “hold” rating to a “buy” rating in a report on Thursday, September 12th. Raymond James set a $38.00 price objective on Beacon Roofing Supply and gave the stock a “buy” rating in a report on Wednesday, August 7th. Evercore ISI restated a “hold” rating and set a $31.00 price objective on shares of Beacon Roofing Supply in a report on Thursday, August 8th. Finally, Stephens set a $37.00 price objective on Beacon Roofing Supply and gave the stock an “overweight” rating in a report on Wednesday, August 7th. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating and five have given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $34.53.

The stock has a market capitalization of $2.29 billion, a price-to-earnings ratio of 11.63, a P/E/G ratio of 1.36 and a beta of 1.44. 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 firm has a fifty day moving average of $32.31 and a 200-day moving average of $34.89.

Beacon Roofing Supply (NASDAQ:BECN) last announced its quarterly earnings results on Tuesday, August 6th. The company reported $0.92 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.24 by ($0.32). Beacon Roofing Supply had a net margin of 0.15% and a return on equity of 9.63%. The company had revenue of $1.92 billion during the quarter, compared to analyst estimates of $1.99 billion. During the same quarter in the prior year, the company posted $1.18 earnings per share. The firm’s revenue for the quarter was down .5% on a year-over-year basis. On average, analysts predict that Beacon Roofing Supply, Inc. will post 2.39 EPS for the current year.

In related news, major shareholder Cd&R Investment Associates Ix, purchased 3,207,200 shares of the stock in a transaction that occurred on Wednesday, September 25th. The stock was purchased at an average cost of $32.08 per share, for a total transaction of $102,886,976.00. The transaction was disclosed in a filing with the SEC, which is available at this link. 1.20% of the stock is currently owned by corporate insiders.

Several institutional investors have recently made changes to their positions in the company. Clayton Dubilier & Rice LLC grew its stake in shares of Beacon Roofing Supply by 78.1% during the second quarter. Clayton Dubilier & Rice LLC now owns 10,550,161 shares of the company’s stock valued at $393,574,000 after acquiring an additional 4,625,998 shares in the last quarter. BlackRock Inc. grew its stake in shares of Beacon Roofing Supply by 1.5% during the second quarter. BlackRock Inc. now owns 4,852,652 shares of the company’s stock valued at $178,191,000 after acquiring an additional 70,828 shares in the last quarter. Iridian Asset Management LLC CT grew its stake in shares of Beacon Roofing Supply by 14.4% during the second quarter. Iridian Asset Management LLC CT now owns 3,712,742 shares of the company’s stock valued at $136,332,000 after acquiring an additional 466,956 shares in the last quarter. Price T Rowe Associates Inc. MD grew its stake in shares of Beacon Roofing Supply by 14.7% during the second quarter. Price T Rowe Associates Inc. MD now owns 1,794,506 shares of the company’s stock valued at $65,894,000 after acquiring an additional 229,434 shares in the last quarter. Finally, Atlanta Capital Management Co. L L C grew its stake in shares of Beacon Roofing Supply by 0.5% during the second quarter. Atlanta Capital Management Co. L L C now owns 1,339,266 shares of the company’s stock valued at $49,178,000 after acquiring an additional 7,137 shares in the last quarter.

About Beacon Roofing Supply (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 solar systems.

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