BidaskClub Upgrades Beacon Roofing Supply (BECN) to Sell

BidaskClub upgraded shares of Beacon Roofing Supply (NASDAQ:BECN) from a strong sell rating to a sell rating in a research note published on Thursday.

A number of other analysts have also recently issued reports on BECN. SunTrust Banks restated a buy rating and set a $52.00 price objective on shares of Beacon Roofing Supply in a research report on Wednesday, August 8th. Citigroup cut Beacon Roofing Supply from a buy rating to a neutral rating and decreased their target price for the stock from $51.00 to $44.00 in a report on Wednesday, August 8th. Wells Fargo & Co cut Beacon Roofing Supply from a market perform rating to an underperform rating and set a $58.00 target price on the stock. in a report on Wednesday, August 8th. Wedbush decreased their target price on Beacon Roofing Supply from $65.00 to $50.00 and set an outperform rating on the stock in a report on Wednesday, August 8th. Finally, Royal Bank of Canada restated a hold rating and set a $41.00 target price on shares of Beacon Roofing Supply in a report on Wednesday, August 8th. Three equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have assigned a buy rating to the company. The company has a consensus rating of Hold and a consensus target price of $41.60.

Shares of BECN traded up $0.32 on Thursday, reaching $33.13. 38,873 shares of the stock traded hands, compared to its average volume of 1,774,451. The stock has a market cap of $2.24 billion, a PE ratio of 12.33, a P/E/G ratio of 0.49 and a beta of 1.44. The company has a current ratio of 1.59, a quick ratio of 1.14 and a debt-to-equity ratio of 1.38. Beacon Roofing Supply has a 12 month low of $24.97 and a 12 month high of $66.47.

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

Institutional investors and hedge funds have recently modified their holdings of the company. BlackRock Inc. raised its position in shares of Beacon Roofing Supply by 1.3% during 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. Frontier Capital Management Co. LLC grew its holdings in shares of Beacon Roofing Supply by 15.5% during the third quarter. Frontier Capital Management Co. LLC now owns 3,748,239 shares of the company’s stock worth $135,649,000 after buying an additional 502,149 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of Beacon Roofing Supply by 11.5% during the third quarter. Dimensional Fund Advisors LP now owns 3,058,449 shares of the company’s stock worth $110,687,000 after buying an additional 315,299 shares in the last quarter. Jennison Associates LLC grew its holdings in shares of Beacon Roofing Supply by 28.2% during the third quarter. Jennison Associates LLC now owns 2,862,115 shares of the company’s stock worth $103,580,000 after buying an additional 629,593 shares in the last quarter. Finally, Fuller & Thaler Asset Management Inc. bought a new position in shares of Beacon Roofing Supply during the third quarter worth about $76,748,000.

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.

Further Reading: Cost of Equity

Analyst Recommendations for Beacon Roofing Supply (NASDAQ:BECN)

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