Beacon Roofing Supply, Inc. (NASDAQ:BECN)‘s stock had its “outperform” rating restated by equities researchers at Royal Bank Of Canada in a report issued on Tuesday, Marketbeat.com reports. They presently have a $63.00 target price on the stock, up from their previous target price of $62.00. Royal Bank Of Canada’s price target would suggest a potential upside of 11.94% from the company’s current price.

BECN has been the subject of a number of other reports. Citigroup Inc. upped their price objective on Beacon Roofing Supply from $48.00 to $51.00 and gave the stock a “neutral” rating in a research note on Monday, August 28th. KeyCorp upgraded Beacon Roofing Supply from a “sector weight” rating to an “overweight” rating and set a $52.00 price objective for the company in a research note on Friday, August 25th. Wells Fargo & Company started coverage on Beacon Roofing Supply in a research note on Wednesday, October 18th. They set a “market perform” rating and a $58.00 price objective for the company. Zacks Investment Research upgraded Beacon Roofing Supply from a “strong sell” rating to a “hold” rating and set a $58.00 price objective for the company in a research note on Tuesday, October 3rd. Finally, SunTrust Banks, Inc. restated a “buy” rating on shares of Beacon Roofing Supply in a research note on Tuesday, September 12th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and seven have issued a buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $55.75.

Beacon Roofing Supply (NASDAQ BECN) traded up $0.65 during mid-day trading on Tuesday, hitting $56.28. The company had a trading volume of 1,002,000 shares, compared to its average volume of 496,654. The company has a debt-to-equity ratio of 0.86, a quick ratio of 1.36 and a current ratio of 2.30. The firm has a market cap of $3,840.00, a price-to-earnings ratio of 26.24, a P/E/G ratio of 2.55 and a beta of 1.45. Beacon Roofing Supply has a twelve month low of $39.57 and a twelve month high of $56.93.

Beacon Roofing Supply (NASDAQ:BECN) last posted its quarterly earnings results on Monday, November 20th. The company reported $0.93 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.94 by ($0.01). The firm had revenue of $1.29 billion for the quarter, compared to analyst estimates of $1.26 billion. Beacon Roofing Supply had a net margin of 2.42% and a return on equity of 9.55%. The business’s revenue was up 9.8% on a year-over-year basis. During the same period in the prior year, the company posted $0.88 earnings per share. equities research analysts forecast that Beacon Roofing Supply will post 2.19 earnings per share for the current fiscal year.

COPYRIGHT VIOLATION NOTICE: This story was originally reported by American Banking News and is the sole property of of American Banking News. If you are reading this story on another publication, it was stolen and republished in violation of United States & international trademark & copyright laws. The correct version of this story can be accessed at https://www.americanbankingnews.com/2017/11/21/royal-bank-of-canada-raises-beacon-roofing-supply-inc-becn-price-target-to-63-00.html.

Large investors have recently added to or reduced their stakes in the company. Bank of New York Mellon Corp grew its stake in shares of Beacon Roofing Supply by 2.2% in the second quarter. Bank of New York Mellon Corp now owns 1,061,255 shares of the company’s stock worth $51,999,000 after purchasing an additional 22,749 shares in the last quarter. BlackRock Inc. grew its stake in shares of Beacon Roofing Supply by 1.2% in the second quarter. BlackRock Inc. now owns 4,069,752 shares of the company’s stock worth $199,416,000 after purchasing an additional 47,779 shares in the last quarter. Lord Abbett & CO. LLC grew its stake in shares of Beacon Roofing Supply by 10.4% in the second quarter. Lord Abbett & CO. LLC now owns 1,873,615 shares of the company’s stock worth $91,807,000 after purchasing an additional 176,659 shares in the last quarter. Swiss National Bank grew its stake in shares of Beacon Roofing Supply by 19.8% in the second quarter. Swiss National Bank now owns 100,000 shares of the company’s stock worth $4,900,000 after purchasing an additional 16,500 shares in the last quarter. Finally, Marshall Wace North America L.P. bought a new position in shares of Beacon Roofing Supply in the second quarter worth $533,000. 97.28% of the stock is owned by institutional investors.

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)

Receive News & Ratings for Beacon Roofing Supply Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Beacon Roofing Supply Inc. and related companies with MarketBeat.com's FREE daily email newsletter.