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Beacon Roofing Supply (NASDAQ:BECN) was downgraded by Zacks from a “neutral” rating to an “underperform” rating in a report released on Thursday. They currently have a $28.00 price target on the stock. Zacks‘s target price suggests a potential downside of 6.85% from the company’s current price.

Zacks’ analyst wrote, “We are downgrading Beacon Roofing from Neutral to Underperform, with a target price of $28.00 as the company’s estimates have been undergoing downward revisions following its weak third quarter results. Beacon reported loss in the second quarter of fiscal 2014 due to the adverse impact of severe winter weather across most of its markets. For the full year 2014, Beacon Roofing expects earnings per share to be at the lower end of the current guidance range of $1.50 to $1.80. Increase in competition, general market softness, lack of strategic acquisitions and pricing pressure remain matters of concern going forward.”

Shares of Beacon Roofing Supply (NASDAQ:BECN) traded down 1.35% during mid-day trading on Thursday, hitting $30.06. The stock had a trading volume of 722,271 shares. Beacon Roofing Supply has a 52-week low of $30.32 and a 52-week high of $42.70. The stock has a 50-day moving average of $33.98 and a 200-day moving average of $36.82. The company has a market cap of $1.482 billion and a P/E ratio of 26.43.

Beacon Roofing Supply (NASDAQ:BECN) last announced its earnings results on Friday, May 9th. The company reported ($0.25) earnings per share for the quarter, missing the analysts’ 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 last year, the company posted ($0.02) earnings per share. Beacon Roofing Supply’s revenue was down 7.5% compared to the same quarter last year. On average, analysts predict that Beacon Roofing Supply will post $1.42 earnings per share for the current fiscal year.

A number of other firms have also recently commented on BECN. Analysts at William Blair downgraded shares of Beacon Roofing Supply from an “outperform” rating to a “market perform” rating in a research note on Tuesday. Separately, analysts at Longbow Research upgraded shares of Beacon Roofing Supply from a “neutral” rating to a “buy” rating in a research note on Monday, May 19th. They now have a $42.00 price target on the stock. Finally, 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. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and three have issued a buy rating to the company. The stock has an average rating of “Hold” and a consensus price target of $38.60.

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

To view Zacks’ full report, visit Zacks’ official website.

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