Beacon Roofing Supply’s (BECN) “Buy” Rating Reaffirmed at Stephens

Beacon Roofing Supply (NASDAQ:BECN)‘s stock had its “buy” rating restated by analysts at Stephens in a research note issued on Friday. They presently have a $40.00 price objective on the stock. Stephens’ target price suggests a potential upside of 21.18% from the company’s previous close.

Several other equities research analysts have also issued reports on BECN. BidaskClub upgraded shares of Beacon Roofing Supply from a “strong sell” rating to a “sell” rating in a research note on Thursday. Royal Bank of Canada set a $28.00 price target on shares of Beacon Roofing Supply and gave the company a “hold” rating in a research note on Tuesday, November 20th. Seaport Global Securities set a $34.00 price target on shares of Beacon Roofing Supply and gave the company a “buy” rating in a research note on Tuesday, November 20th. Raymond James lowered shares of Beacon Roofing Supply from a “strong-buy” rating to an “outperform” rating in a research note on Tuesday, November 20th. Finally, Citigroup lowered shares of Beacon Roofing Supply from a “buy” rating to a “neutral” rating and lowered their price target for the company from $51.00 to $44.00 in a research note on Wednesday, August 8th. Three equities research analysts have rated the stock with a sell rating, eight have given a hold rating and eight have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $41.60.

Shares of NASDAQ:BECN opened at $33.01 on Friday. Beacon Roofing Supply has a 12 month low of $24.97 and a 12 month 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 firm has a market cap of $2.24 billion, a P/E ratio of 12.23, a P/E/G ratio of 0.49 and a beta of 1.44.

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

Institutional investors and hedge funds have recently made changes to their positions in the company. Advisors Asset Management Inc. grew its position in shares of Beacon Roofing Supply by 1,809.4% in the 2nd quarter. Advisors Asset Management Inc. now owns 61,196 shares of the company’s stock valued at $119,000 after acquiring an additional 57,991 shares during the period. Cim Investment Mangement Inc. bought a new position in shares of Beacon Roofing Supply in the 3rd quarter valued at about $205,000. Jane Street Group LLC bought a new position in shares of Beacon Roofing Supply in the 2nd quarter valued at about $226,000. Eqis Capital Management Inc. bought a new position in shares of Beacon Roofing Supply in the 2nd quarter valued at about $261,000. Finally, CIBC World Markets Inc. bought a new position in shares of Beacon Roofing Supply in the 2nd quarter valued at about $277,000.

About Beacon Roofing Supply

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.

Featured Article: Market Capitalization in the Stock Market

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