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Beacon Roofing Supply (NASDAQ:BECN) was upgraded by investment analysts at Longbow Research from a “neutral” rating to a “buy” rating in a note issued to investors on Monday, TheFlyOnTheWall.com reports. The firm currently has a $42.00 price target on the stock. Longbow Research’s target price would indicate a potential upside of 25.15% from the stock’s previous close.

The analysts wrote, “compelling buying opportunity.”

A number of other analysts have also recently weighed in on BECN. Analysts at RBC Capital cut their price target on shares of Beacon Roofing Supply from $41.00 to $38.00 in a research note on Monday, May 12th. Separately, analysts at SunTrust upgraded shares of Beacon Roofing Supply from a “neutral” rating to a “buy” rating in a research note on Tuesday, April 15th. They now have a $46.00 price target on the stock, up previously from $39.00. Finally, 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. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average price target of $41.00.

Beacon Roofing Supply (NASDAQ:BECN) opened at 33.56 on Monday. Beacon Roofing Supply has a 1-year low of $32.96 and a 1-year high of $42.70. The stock’s 50-day moving average is $36.02 and its 200-day moving average is $37.41. The company has a market cap of $1.655 billion and a price-to-earnings ratio of 29.11.

Beacon Roofing Supply (NASDAQ:BECN) last issued its quarterly earnings data on Friday, May 9th. The company reported ($0.25) EPS for the quarter, missing the Thomson Reuters consensus estimate of ($0.05) by $0.20. The company had revenue of $384.89 million for the quarter, compared to the consensus estimate of $416.84 million. During the same quarter in the prior year, the company posted ($0.02) earnings per share. The company’s quarterly revenue was down 7.5% on a year-over-year basis. On average, analysts predict that Beacon Roofing Supply will post $1.51 earnings per share for the current fiscal year.

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

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