Shares of Beacon Roofing Supply, Inc. (NASDAQ:BECN) have earned an average recommendation of “Buy” from the twelve research firms that are covering the firm, MarketBeat reports. Five research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. The average twelve-month price objective among brokerages that have issued a report on the stock in the last year is $56.91.

Several brokerages have recently commented on BECN. BidaskClub cut shares of Beacon Roofing Supply from a “buy” rating to a “hold” rating in a report on Tuesday. Royal Bank of Canada reaffirmed an “outperform” rating and set a $63.00 target price (up from $62.00) on shares of Beacon Roofing Supply in a report on Tuesday, November 21st. KeyCorp reaffirmed a “buy” rating and set a $56.00 target price on shares of Beacon Roofing Supply in a report on Sunday, October 15th. Robert W. Baird reaffirmed an “outperform” rating and set a $70.00 target price (up from $55.00) on shares of Beacon Roofing Supply in a report on Tuesday, November 21st. Finally, Zacks Investment Research raised shares of Beacon Roofing Supply from a “hold” rating to a “strong-buy” rating and set a $68.00 price objective on the stock in a research note on Thursday, November 23rd.

In other Beacon Roofing Supply news, EVP Ross D. Cooper sold 2,000 shares of the firm’s stock in a transaction that occurred on Tuesday, November 21st. The shares were sold at an average price of $59.75, for a total value of $119,500.00. Following the sale, the executive vice president now owns 7,056 shares in the company, valued at $421,596. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Paul Isabella sold 40,000 shares of the firm’s stock in a transaction that occurred on Monday, November 27th. The shares were sold at an average price of $60.57, for a total transaction of $2,422,800.00. Following the completion of the sale, the chief executive officer now owns 172,046 shares in the company, valued at approximately $10,420,826.22. The disclosure for this sale can be found here. Company insiders own 0.75% of the company’s stock.

Institutional investors have recently modified their holdings of the business. SG Americas Securities LLC acquired a new stake in Beacon Roofing Supply in the second quarter valued at approximately $100,000. Advisors Asset Management Inc. boosted its position in Beacon Roofing Supply by 36.7% in the second quarter. Advisors Asset Management Inc. now owns 2,105 shares of the company’s stock valued at $103,000 after buying an additional 565 shares in the last quarter. Zions Bancorporation acquired a new stake in Beacon Roofing Supply in the third quarter valued at approximately $124,000. Advisor Group Inc. boosted its position in Beacon Roofing Supply by 8.9% in the second quarter. Advisor Group Inc. now owns 3,877 shares of the company’s stock valued at $190,000 after buying an additional 316 shares in the last quarter. Finally, Keybank National Association OH acquired a new stake in Beacon Roofing Supply in the third quarter valued at approximately $210,000.

Shares of Beacon Roofing Supply (NASDAQ BECN) traded down $0.71 on Tuesday, hitting $63.76. 523,321 shares of the stock traded hands, compared to its average volume of 613,820. Beacon Roofing Supply has a 12 month low of $39.57 and a 12 month high of $66.47. The company has a market capitalization of $4,350.00, a PE ratio of 38.88, a PEG ratio of 0.82 and a beta of 1.49. The company has a debt-to-equity ratio of 0.42, a current ratio of 2.06 and a quick ratio of 1.35.

Beacon Roofing Supply (NASDAQ:BECN) last announced its earnings results on Monday, November 20th. The company reported $0.93 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.94 by ($0.01). Beacon Roofing Supply had a return on equity of 9.09% and a net margin of 2.30%. The business had revenue of $1.29 billion for the quarter, compared to the consensus estimate of $1.26 billion. During the same period in the prior year, the business posted $0.88 earnings per share. The firm’s revenue for the quarter was up 9.8% compared to the same quarter last year. sell-side analysts forecast that Beacon Roofing Supply will post 3.16 EPS for the current year.

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Beacon Roofing Supply Company Profile

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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