Beacon Roofing Supply Rating Reiterated by JPMorgan Chase & Co. (BECN)
Beacon Roofing Supply (NASDAQ:BECN)‘s stock had its “neutral” rating reiterated by JPMorgan Chase & Co. in a research note issued on Friday. They currently have a $33.50 price target on the stock, down from their previous price target of $38.00. JPMorgan Chase & Co.’s target price points to a potential upside of 17.75% from the company’s current price.
BECN has been the subject of a number of other recent research reports. 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, July 8th. 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. Three research analysts have rated the stock with a hold rating and three have given a buy rating to the company. Beacon Roofing Supply presently has an average rating of “Buy” and an average price target of $38.10.
Beacon Roofing Supply (NASDAQ:BECN) traded up 0.04% during mid-day trading on Friday, hitting $28.45. The stock had a trading volume of 1,396,574 shares. Beacon Roofing Supply has a 52-week low of $27.45 and a 52-week high of $41.38. The stock’s 50-day moving average is $30.25 and its 200-day moving average is $35.13. The company has a market cap of $1.403 billion and a price-to-earnings ratio of 24.67.
Beacon Roofing Supply (NASDAQ:BECN) last announced its earnings results on Friday, August 8th. The company reported $0.54 earnings per share for the quarter, missing the analysts’ consensus estimate of $0.60 by $0.06. The company had revenue of $663.40 million for the quarter, compared to the consensus estimate of $662.94 million. During the same quarter last year, the company posted $0.62 earnings per share. Beacon Roofing Supply’s revenue was up 5.8% compared to the same quarter last year. On average, analysts predict that Beacon Roofing Supply will post $1.36 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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