Beacon Roofing Supply, Inc. (NASDAQ:BECN)‘s stock had its “buy” rating reissued by stock analysts at Robert W. Baird in a research note issued on Thursday. They currently have a $55.00 price target on the stock. Robert W. Baird’s price target suggests a potential upside of 5.26% from the stock’s previous close.

Several other analysts also recently issued reports on the stock. BidaskClub downgraded shares of Beacon Roofing Supply from a “hold” rating to a “sell” rating in a report on Tuesday, July 25th. SunTrust Banks, Inc. reaffirmed a “buy” rating on shares of Beacon Roofing Supply in a report on Tuesday, September 12th. Northcoast Research raised shares of Beacon Roofing Supply from a “neutral” rating to a “buy” rating and set a $53.00 price target on the stock in a report on Friday, August 25th. Royal Bank Of Canada reaffirmed a “buy” rating and issued a $53.00 price target on shares of Beacon Roofing Supply in a report on Tuesday. Finally, Jefferies Group LLC raised shares of Beacon Roofing Supply from a “hold” rating to a “buy” rating and upped their price target for the company from $50.00 to $54.00 in a report on Friday, August 25th. One research analyst has rated the stock with a sell rating, four have given a hold rating and seven have issued a buy rating to the company’s stock. Beacon Roofing Supply has an average rating of “Buy” and an average price target of $52.73.

Shares of Beacon Roofing Supply (NASDAQ BECN) traded down 0.335% on Thursday, reaching $52.075. 180,836 shares of the company were exchanged. The stock has a 50 day moving average of $49.21 and a 200-day moving average of $48.13. Beacon Roofing Supply has a 52-week low of $39.57 and a 52-week high of $53.11. The company has a market capitalization of $3.14 billion, a P/E ratio of 30.923 and a beta of 1.32.

Beacon Roofing Supply (NASDAQ:BECN) last issued its earnings results on Wednesday, August 2nd. The company reported $0.84 earnings per share for the quarter, missing the consensus estimate of $0.90 by ($0.06). Beacon Roofing Supply had a return on equity of 9.55% and a net margin of 2.42%. The company had revenue of $1.21 billion for the quarter, compared to analyst estimates of $1.27 billion. During the same quarter in the previous year, the company posted $0.77 earnings per share. The company’s quarterly revenue was up 5.3% compared to the same quarter last year. On average, analysts predict that Beacon Roofing Supply will post $2.19 EPS for the current fiscal year.

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Several institutional investors and hedge funds have recently made changes to their positions in the stock. Lord Abbett & CO. LLC lifted its stake in shares of Beacon Roofing Supply by 10.4% during the second quarter. Lord Abbett & CO. LLC now owns 1,873,615 shares of the company’s stock valued at $91,807,000 after buying an additional 176,659 shares during the period. Dynamic Technology Lab Private Ltd acquired a new position in Beacon Roofing Supply during the second quarter worth approximately $312,000. Public Employees Retirement System of Ohio increased its position in Beacon Roofing Supply by 27.2% during the second quarter. Public Employees Retirement System of Ohio now owns 194,591 shares of the company’s stock worth $9,535,000 after purchasing an additional 41,654 shares during the last quarter. 1st Global Advisors Inc. increased its position in Beacon Roofing Supply by 0.8% during the second quarter. 1st Global Advisors Inc. now owns 9,836 shares of the company’s stock worth $482,000 after purchasing an additional 76 shares during the last quarter. Finally, Verition Fund Management LLC acquired a new position in Beacon Roofing Supply during the second quarter worth approximately $383,000. 91.22% of the stock is currently owned by institutional investors and hedge funds.

About Beacon Roofing Supply

Beacon Roofing Supply, Inc is engaged in the distribution of residential and non-residential roofing materials in the United States and Canada. It also distributes complementary building products for residential and non-residential building exteriors. Its product portfolio includes residential roofing products, non-residential roofing products and complementary building products.

Analyst Recommendations for Beacon Roofing Supply (NASDAQ:BECN)

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