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Beacon Roofing Supply (NASDAQ:BECN) was upgraded by investment analysts at SunTrust from a “neutral” rating to a “buy” rating in a note issued to investors on Tuesday, TheFlyOnTheWall.com reports. The firm currently has a $46.00 target price on the stock. SunTrust’s target price suggests a potential upside of 29.87% from the stock’s previous close.

Beacon Roofing Supply (NASDAQ:BECN) opened at 35.42 on Tuesday. Beacon Roofing Supply has a one year low of $32.97 and a one year high of $42.70. The stock’s 50-day moving average is $38.26 and its 200-day moving average is $37.4. The company has a market cap of $1.745 billion and a price-to-earnings ratio of 25.67.

Beacon Roofing Supply (NASDAQ:BECN) last announced its earnings results on Thursday, February 6th. The company reported $0.30 EPS for the quarter, missing the Thomson Reuters consensus estimate of $0.36 by $0.06. The company had revenue of $552.10 million for the quarter, compared to the consensus estimate of $573.20 million. During the same quarter in the prior year, the company posted $0.37 earnings per share. The company’s quarterly revenue was up 7.5% on a year-over-year basis. Analysts expect that Beacon Roofing Supply will post $1.70 EPS for the current fiscal year.

Separately, analysts at Zacks reiterated a “neutral” rating on shares of Beacon Roofing Supply in a research note on Thursday, March 27th. They now have a $40.00 price target on the stock. Four investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Beacon Roofing Supply currently has a consensus rating of “Hold” and a consensus target price of $42.40.

Beacon Roofing Supply, Inc is a distributor of residential and non-residential roofing materials in the United States and Canada.

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