Beacon Roofing Supply (BECN) Downgraded by Raymond James

Raymond James downgraded shares of Beacon Roofing Supply (NASDAQ:BECN) from a strong-buy rating to an outperform rating in a research note released on Tuesday, Marketbeat.com reports.

Other equities analysts have also issued reports about the stock. Seaport Global Securities set a $52.00 price objective on shares of Beacon Roofing Supply and gave the company a buy rating in a report on Sunday, August 12th. Wedbush cut their price objective on shares of Beacon Roofing Supply from $65.00 to $50.00 and set an outperform rating on the stock in a report on Wednesday, August 8th. BidaskClub lowered shares of Beacon Roofing Supply from a hold rating to a sell rating in a report on Wednesday, October 3rd. Citigroup lowered shares of Beacon Roofing Supply from a buy rating to a neutral rating and cut their price objective for the company from $51.00 to $44.00 in a report on Wednesday, August 8th. Finally, SunTrust Banks restated a buy rating and issued a $52.00 price objective on shares of Beacon Roofing Supply in a report on Wednesday, August 8th. Three investment analysts have rated the stock with a sell rating, eight have given a hold rating and eight have given a buy rating to the stock. The stock has a consensus rating of Hold and a consensus price target of $41.60.

BECN opened at $32.61 on Tuesday. Beacon Roofing Supply has a one year low of $24.97 and a one year high of $66.47. The company has a current ratio of 1.59, a quick ratio of 1.14 and a debt-to-equity ratio of 1.38. The company has a market cap of $2.24 billion, a PE ratio of 12.08, a P/E/G ratio of 0.49 and a beta of 1.44.

Beacon Roofing Supply (NASDAQ:BECN) last announced its quarterly earnings data on Monday, November 19th. The company reported $1.07 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.36 by ($0.29). Beacon Roofing Supply had a net margin of 1.54% and a return on equity of 11.23%. The business had revenue of $1.94 billion during the quarter, compared to analyst estimates of $2.01 billion. During the same quarter in the prior year, the company earned $0.93 earnings per share. The company’s quarterly revenue was up 50.4% on a year-over-year basis. As a group, equities analysts anticipate that Beacon Roofing Supply will post 3.5 EPS for the current fiscal year.

Institutional investors and hedge funds have recently bought and sold shares of the business. BlackRock Inc. raised its holdings in Beacon Roofing Supply by 1.3% in the second quarter. BlackRock Inc. now owns 5,024,154 shares of the company’s stock worth $214,131,000 after purchasing an additional 65,371 shares during the period. Private Management Group Inc. acquired a new stake in Beacon Roofing Supply in the second quarter worth $5,739,000. Soapstone Management L.P. acquired a new stake in Beacon Roofing Supply in the second quarter worth $8,524,000. Macquarie Group Ltd. acquired a new stake in Beacon Roofing Supply in the second quarter worth $755,000. Finally, Skylands Capital LLC raised its holdings in Beacon Roofing Supply by 9.2% in the third quarter. Skylands Capital LLC now owns 613,750 shares of the company’s stock worth $22,212,000 after purchasing an additional 51,950 shares during the period.

Beacon Roofing Supply Company Profile

Beacon Roofing Supply, Inc, together with its subsidiaries, distributes residential and commercial roofing materials, and other complementary building materials to contractors, home builders, retailers, and building materials suppliers. The company's residential roofing products include asphalt shingles, synthetic slates and tiles, clay and concrete tiles, slates, nail base insulations, metal roofing, felts, synthetic underlayment, wood shingles and shakes, nails and fasteners, metal edgings and flashings, prefabricated flashings, ridges and soffit vents, and other accessories.

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Analyst Recommendations for Beacon Roofing Supply (NASDAQ:BECN)

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