Beacon Roofing Supply, Inc. (NASDAQ:BECN) – Analysts at Jefferies Group boosted their Q3 2018 EPS estimates for shares of Beacon Roofing Supply in a research note issued to investors on Wednesday. Jefferies Group analyst P. Ng now expects that the company will post earnings of $1.35 per share for the quarter, up from their prior forecast of $1.17. Jefferies Group has a “Buy” rating and a $73.00 price objective on the stock. Jefferies Group also issued estimates for Beacon Roofing Supply’s Q4 2018 earnings at $1.54 EPS and FY2019 earnings at $4.42 EPS.

Beacon Roofing Supply (NASDAQ:BECN) last announced its quarterly earnings data on Monday, November 20th. The company reported $0.93 EPS for the quarter, missing the Zacks’ 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 company had revenue of $1.29 billion for the quarter, compared to analysts’ expectations of $1.26 billion. During the same quarter in the previous year, the business posted $0.88 EPS. The business’s quarterly revenue was up 9.8% compared to the same quarter last year.

A number of other equities analysts also recently commented on the company. BidaskClub downgraded Beacon Roofing Supply from a “buy” rating to a “hold” rating in a research report on Tuesday, January 9th. Zacks Investment Research upgraded Beacon Roofing Supply from a “hold” rating to a “strong-buy” rating and set a $68.00 target price on the stock in a research report on Thursday, November 23rd. Robert W. Baird restated an “outperform” rating and issued a $70.00 target price (up previously from $55.00) on shares of Beacon Roofing Supply in a research report on Tuesday, November 21st. SunTrust Banks lifted their target price on Beacon Roofing Supply to $62.00 and gave the company a “buy” rating in a research report on Tuesday, November 21st. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $63.00 target price (up previously from $62.00) on shares of Beacon Roofing Supply in a research report on Tuesday, November 21st. Five investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $58.64.

Shares of Beacon Roofing Supply (BECN) traded up $0.96 during trading on Thursday, reaching $63.49. The company had a trading volume of 709,000 shares, compared to its average volume of 707,509. Beacon Roofing Supply has a 52-week low of $39.57 and a 52-week high of $66.47. The stock has a market capitalization of $4,300.00, a P/E ratio of 38.71, a price-to-earnings-growth ratio of 1.32 and a beta of 1.49. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.35 and a current ratio of 2.06.

Hedge funds and other institutional investors have recently modified their holdings of the company. SG Americas Securities LLC acquired a new stake in shares of Beacon Roofing Supply in the second quarter valued at $100,000. Zions Bancorporation acquired a new stake in shares of Beacon Roofing Supply in the third quarter valued at $124,000. Advisor Group Inc. grew its stake in shares of 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. Keybank National Association OH acquired a new position in Beacon Roofing Supply during the 3rd quarter worth $210,000. Finally, CAPROCK Group Inc. acquired a new position in Beacon Roofing Supply during the 4th quarter worth $212,000.

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

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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.

Earnings History and Estimates for Beacon Roofing Supply (NASDAQ:BECN)

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