Beacon Roofing Supply, Inc. (BECN) Given Average Rating of “Buy” by Brokerages
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.
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.
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.
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