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

Shares of Beacon Roofing Supply, Inc. (NASDAQ:BECN) have earned an average rating of “Buy” from the twelve brokerages that are covering the stock, Marketbeat reports. One equities research analyst has rated the stock with a sell recommendation, four have given a hold recommendation and seven have issued a buy recommendation on the company. The average 1-year price objective among brokers that have updated their coverage on the stock in the last year is $58.82.

A number of equities analysts recently issued reports on the stock. Zacks Investment Research downgraded shares of Beacon Roofing Supply from a “strong-buy” rating to a “hold” rating in a research note on Monday, January 22nd. Jefferies Group reissued a “buy” rating and issued a $73.00 price target on shares of Beacon Roofing Supply in a research note on Wednesday, January 17th. BidaskClub downgraded shares of Beacon Roofing Supply from a “buy” rating to a “hold” rating in a research note on Tuesday, January 9th. Royal Bank of Canada reissued an “outperform” rating and issued a $63.00 price target (up from $62.00) on shares of Beacon Roofing Supply in a research note on Tuesday, November 21st. Finally, Wells Fargo & Co assumed coverage on shares of Beacon Roofing Supply in a research note on Wednesday, October 18th. They issued a “market perform” rating and a $58.00 price target for the company.

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

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. grew its holdings in Beacon Roofing Supply by 1.0% in the second quarter. Vanguard Group Inc. now owns 4,892,191 shares of the company’s stock worth $239,718,000 after purchasing an additional 46,661 shares during the period. BlackRock Inc. grew its holdings in shares of Beacon Roofing Supply by 1.2% during the second quarter. BlackRock Inc. now owns 4,069,752 shares of the company’s stock valued at $199,416,000 after buying an additional 47,779 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of Beacon Roofing Supply by 3.9% during the third quarter. Dimensional Fund Advisors LP now owns 2,505,823 shares of the company’s stock valued at $128,424,000 after buying an additional 93,832 shares during the last quarter. TimesSquare Capital Management LLC grew its holdings in shares of Beacon Roofing Supply by 108.4% during the third quarter. TimesSquare Capital Management LLC now owns 2,362,015 shares of the company’s stock valued at $121,053,000 after buying an additional 1,228,625 shares during the last quarter. Finally, Lord Abbett & CO. LLC grew its holdings in shares of Beacon Roofing Supply by 10.4% during the second quarter. Lord Abbett & CO. LLC now owns 1,873,615 shares of the company’s stock valued at $91,807,000 after buying an additional 176,659 shares during the last quarter.

Beacon Roofing Supply (NASDAQ:BECN) traded down $2.00 during mid-day trading on Friday, reaching $59.75. 459,161 shares of the company were exchanged, compared to its average volume of 605,056. 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 $4,197.08, a P/E ratio of 36.66, a P/E/G ratio of 1.29 and a beta of 1.35. The company has a current ratio of 2.06, a quick ratio of 1.35 and a debt-to-equity ratio of 0.42.

Beacon Roofing Supply (NASDAQ:BECN) last released its quarterly earnings results on Monday, November 20th. The company reported $0.93 earnings per share (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 during the quarter, compared to the consensus estimate of $1.26 billion. During the same period in the previous year, the company earned $0.88 earnings per share. Beacon Roofing Supply’s quarterly revenue was up 9.8% on a year-over-year basis. equities research analysts anticipate that Beacon Roofing Supply will post 3.19 earnings per share for the current year.

COPYRIGHT VIOLATION WARNING: This piece of content was originally posted by American Banking News and is the property of of American Banking News. If you are viewing this piece of content on another website, it was stolen and republished in violation of international copyright and trademark laws. The correct version of this piece of content can be read at https://www.americanbankingnews.com/2018/02/03/beacon-roofing-supply-inc-becn-given-average-recommendation-of-buy-by-analysts.html.

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)

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

Leave a Reply