Beacon Roofing Supply (NASDAQ:BECN)‘s stock had its “buy” rating restated by equities research analysts at Jefferies Group in a report issued on Wednesday. They presently have a $73.00 target price on the stock. Jefferies Group’s price target suggests a potential upside of 14.98% from the company’s previous close.

Several other equities analysts have also weighed in on the stock. SunTrust Banks reaffirmed a “buy” rating and set a $55.00 target price on shares of Beacon Roofing Supply in a report on Friday, November 10th. Royal Bank of Canada reissued an “outperform” rating and issued a $63.00 price target (up previously from $62.00) on shares of Beacon Roofing Supply in a report on Tuesday, November 21st. BidaskClub lowered shares of Beacon Roofing Supply from a “buy” rating to a “hold” rating in a report on Friday, December 15th. Wells Fargo & Co assumed coverage on shares of Beacon Roofing Supply in a report on Wednesday, October 18th. They issued a “market perform” rating and a $58.00 price target for the company. Finally, Zacks Investment Research raised shares of Beacon Roofing Supply from a “strong sell” rating to a “hold” rating and set a $58.00 price target for the company in a report on Tuesday, October 3rd. Five analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company’s stock. Beacon Roofing Supply presently has an average rating of “Buy” and an average price target of $58.64.

Beacon Roofing Supply (BECN) traded up $0.96 during trading hours on Wednesday, hitting $63.49. 709,010 shares of the stock traded hands, compared to its average volume of 707,509. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.35 and a current ratio of 2.06. The stock has a market cap of $4,250.00, a price-to-earnings ratio of 38.71, a price-to-earnings-growth ratio of 1.34 and a beta of 1.49. Beacon Roofing Supply has a 52-week low of $39.57 and a 52-week high of $66.47.

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

In other Beacon Roofing Supply news, EVP Ross D. Cooper sold 2,000 shares of Beacon Roofing Supply stock in a transaction on Tuesday, November 21st. The shares were sold at an average price of $59.75, for a total transaction of $119,500.00. Following the sale, the executive vice president now owns 7,056 shares of the company’s stock, valued at approximately $421,596. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Paul Isabella sold 40,000 shares of Beacon Roofing Supply stock in a transaction on Monday, November 27th. The stock was sold at an average price of $60.57, for a total transaction of $2,422,800.00. Following the sale, the chief executive officer now directly owns 172,046 shares in the company, valued at approximately $10,420,826.22. The disclosure for this sale can be found here. Insiders own 0.77% of the company’s stock.

Institutional investors and hedge funds have recently made changes to their positions in the business. Eagle Asset Management boosted its position in shares of Beacon Roofing Supply by 103.6% during the 3rd quarter. Eagle Asset Management now owns 95,978 shares of the company’s stock valued at $3,118,000 after acquiring an additional 48,839 shares during the last quarter. ClariVest Asset Management LLC acquired a new position in shares of Beacon Roofing Supply during the 4th quarter valued at about $1,125,000. Frontier Capital Management Co. LLC boosted its position in shares of Beacon Roofing Supply by 2.4% during the 4th quarter. Frontier Capital Management Co. LLC now owns 2,435,333 shares of the company’s stock valued at $100,287,000 after acquiring an additional 57,392 shares during the last quarter. Rice Hall James & Associates LLC boosted its position in shares of Beacon Roofing Supply by 45.9% during the 4th quarter. Rice Hall James & Associates LLC now owns 547,475 shares of the company’s stock valued at $22,545,000 after acquiring an additional 172,352 shares during the last quarter. Finally, Nationwide Fund Advisors boosted its position in shares of Beacon Roofing Supply by 10.4% during the 4th quarter. Nationwide Fund Advisors now owns 397,498 shares of the company’s stock valued at $16,369,000 after acquiring an additional 37,548 shares during the last quarter.

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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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