Beacon Roofing Supply Inc. (NASDAQ:BECN) fell 2% during trading on Tuesday . The company traded as low as $39.76 and last traded at $39.85, with a volume of 278,441 shares trading hands. The stock had previously closed at $40.65.

A number of research firms have commented on BECN. Zacks Investment Research upgraded Beacon Roofing Supply from a “hold” rating to a “buy” rating and set a $48.00 price target for the company in a research note on Tuesday, June 28th. BB&T Corp. upgraded Beacon Roofing Supply from a “hold” rating to a “buy” rating and set a $51.00 price target for the company in a research note on Friday, June 10th. Jefferies Group began coverage on Beacon Roofing Supply in a research note on Wednesday, July 6th. They issued a “hold” rating and a $46.00 price target for the company. Robert W. Baird reiterated an “outperform” rating and issued a $55.00 price target on shares of Beacon Roofing Supply in a research note on Wednesday, July 6th. Finally, Wedbush reiterated a “neutral” rating and issued a $50.00 price target on shares of Beacon Roofing Supply in a research note on Tuesday, September 6th. Four analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. The company currently has an average rating of “Buy” and an average target price of $48.44.

The stock has a 50-day moving average of $45.17 and a 200 day moving average of $43.80. The stock has a market capitalization of $2.36 billion, a PE ratio of 31.10 and a beta of 1.39.

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Beacon Roofing Supply (NASDAQ:BECN) last released its earnings results on Tuesday, August 2nd. The company reported $0.77 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.75 by $0.02. Beacon Roofing Supply had a return on equity of 9.66% and a net margin of 1.96%. The firm earned $1.15 billion during the quarter, compared to analysts’ expectations of $1.15 billion. During the same period in the previous year, the firm posted $0.56 EPS. Beacon Roofing Supply’s revenue for the quarter was up 60.5% on a year-over-year basis. On average, equities analysts anticipate that Beacon Roofing Supply Inc. will post $2.13 EPS for the current year.

In related news, Director Carl T. Berquist bought 5,000 shares of the stock in a transaction that occurred on Wednesday, September 7th. The stock was purchased at an average cost of $44.81 per share, with a total value of $224,050.00. Following the purchase, the director now directly owns 5,000 shares of the company’s stock, valued at approximately $224,050. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Ross D. Cooper sold 8,403 shares of the business’s stock in a transaction on Thursday, July 7th. The stock was sold at an average price of $47.50, for a total value of $399,142.50. Following the transaction, the executive vice president now directly owns 5,255 shares of the company’s stock, valued at $249,612.50. The disclosure for this sale can be found here. Corporate insiders own 1.15% of the company’s stock.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. State Street Corp boosted its position in Beacon Roofing Supply by 3.6% in the first quarter. State Street Corp now owns 847,821 shares of the company’s stock valued at $34,767,000 after buying an additional 29,305 shares during the last quarter. Cupps Capital Management LLC boosted its position in Beacon Roofing Supply by 37.8% in the first quarter. Cupps Capital Management LLC now owns 114,115 shares of the company’s stock valued at $4,679,000 after buying an additional 31,280 shares during the last quarter. Huntington Asset Advisors Inc. bought a new position in Beacon Roofing Supply during the first quarter valued at approximately $480,000. William Harris Investors Inc. boosted its position in Beacon Roofing Supply by 18.2% in the first quarter. William Harris Investors Inc. now owns 299,645 shares of the company’s stock valued at $12,288,000 after buying an additional 46,214 shares during the last quarter. Finally, Insight Capital Research & Management Inc. bought a new position in Beacon Roofing Supply during the first quarter valued at approximately $3,222,000.

Beacon Roofing Supply Company Profile

Beacon Roofing Supply, Inc is a distributor of residential and non-residential roofing materials in the United States. The Company operates in the wholesale distribution of building materials segment. The Company distributes other complementary building materials, such as waterproofing systems for residential and non-residential building exteriors.

5 Day Chart for NASDAQ:BECN

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