Beacon Roofing Supply, Inc. (NASDAQ:BECN) Receives Average Recommendation of “Hold” from Brokerages

Beacon Roofing Supply, Inc. (NASDAQ:BECN) has been given a consensus recommendation of “Hold” by the sixteen analysts that are presently covering the company, Marketbeat.com reports. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and four have given a buy rating to the company. The average 12-month target price among analysts that have issued a report on the stock in the last year is $27.17.

Several equities analysts have recently issued reports on BECN shares. Wedbush reaffirmed a “neutral” rating and issued a $16.00 target price on shares of Beacon Roofing Supply in a report on Wednesday, April 22nd. SunTrust Banks upped their target price on Beacon Roofing Supply from $24.00 to $26.00 and gave the company a “buy” rating in a report on Friday, May 8th. TheStreet lowered Beacon Roofing Supply from a “c-” rating to a “d+” rating in a report on Friday, March 20th. ValuEngine raised Beacon Roofing Supply from a “sell” rating to a “hold” rating in a report on Friday, May 1st. Finally, JPMorgan Chase & Co. reduced their price objective on Beacon Roofing Supply from $29.00 to $15.50 and set an “underweight” rating for the company in a report on Tuesday, March 31st.

Institutional investors have recently bought and sold shares of the company. Point72 Hong Kong Ltd bought a new position in shares of Beacon Roofing Supply in the fourth quarter worth $67,000. Penserra Capital Management LLC boosted its holdings in shares of Beacon Roofing Supply by 88.4% in the fourth quarter. Penserra Capital Management LLC now owns 2,544 shares of the company’s stock worth $82,000 after acquiring an additional 1,194 shares during the period. Pinz Capital Management LP bought a new position in shares of Beacon Roofing Supply in the first quarter worth $49,000. Sailer Financial LLC bought a new position in shares of Beacon Roofing Supply in the fourth quarter worth $118,000. Finally, Great West Life Assurance Co. Can bought a new position in shares of Beacon Roofing Supply in the fourth quarter worth $141,000.

Shares of BECN stock traded up $0.05 during trading on Friday, hitting $25.53. The company’s stock had a trading volume of 230,500 shares, compared to its average volume of 594,414. The company has a market cap of $1.76 billion, a PE ratio of -14.93 and a beta of 1.82. The company has a current ratio of 2.71, a quick ratio of 1.78 and a debt-to-equity ratio of 2.06. The business has a fifty day moving average of $25.37 and a 200-day moving average of $26.27. Beacon Roofing Supply has a 52 week low of $11.66 and a 52 week high of $37.87.

Beacon Roofing Supply (NASDAQ:BECN) last released its earnings results on Thursday, May 7th. The company reported ($0.27) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.27). The company had revenue of $1.46 billion during the quarter, compared to analyst estimates of $1.46 billion. Beacon Roofing Supply had a positive return on equity of 9.42% and a negative net margin of 1.24%. Beacon Roofing Supply’s quarterly revenue was up 2.1% on a year-over-year basis. During the same period in the prior year, the company posted ($1.08) earnings per share. As a group, research analysts predict that Beacon Roofing Supply will post 1.62 EPS for the current year.

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 solar systems.

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Analyst Recommendations for Beacon Roofing Supply (NASDAQ:BECN)

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