Stephens set a $50.00 price objective on Beacon Roofing Supply (NASDAQ:BECN) in a report published on Tuesday, The Fly reports. The firm currently has a buy rating on the stock.

Several other research analysts have also weighed in on BECN. Wedbush dropped 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 research note on Wednesday, August 8th. MKM Partners began coverage on shares of Beacon Roofing Supply in a research note on Thursday, June 28th. They issued a buy rating and a $61.00 price objective on the stock. Royal Bank of Canada reiterated a hold rating and issued a $41.00 price objective on shares of Beacon Roofing Supply in a research note on Wednesday, August 8th. Wells Fargo & Co lowered shares of Beacon Roofing Supply from a market perform rating to an underperform rating and set a $58.00 price objective on the stock. in a research note on Wednesday, August 8th. Finally, BidaskClub upgraded shares of Beacon Roofing Supply from a sell rating to a hold rating in a research note on Friday, June 22nd. Four analysts have rated the stock with a sell rating, five have assigned a hold rating and eight have assigned a buy rating to the company’s stock. The stock has an average rating of Hold and an average price target of $53.80.

BECN stock opened at $38.66 on Tuesday. Beacon Roofing Supply has a 52-week low of $35.04 and a 52-week high of $66.47. The company has a current ratio of 2.07, a quick ratio of 1.14 and a debt-to-equity ratio of 1.63. The company has a market cap of $2.52 billion, a PE ratio of 17.73, a PEG ratio of 0.39 and a beta of 1.27.

Beacon Roofing Supply (NASDAQ:BECN) last released its quarterly earnings data on Tuesday, August 7th. The company reported $1.18 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.32 by ($0.14). The company had revenue of $1.93 billion during the quarter, compared to analyst estimates of $2.07 billion. Beacon Roofing Supply had a net margin of 1.65% and a return on equity of 9.94%. During the same quarter in the prior year, the company posted $0.84 EPS. equities research analysts anticipate that Beacon Roofing Supply will post 3.16 EPS for the current fiscal year.

In other Beacon Roofing Supply news, Director Richard W. Frost purchased 11,820 shares of the company’s stock in a transaction dated Tuesday, June 5th. The shares were bought at an average price of $42.46 per share, for a total transaction of $501,877.20. Following the purchase, the director now directly owns 9,207 shares in the company, valued at approximately $390,929.22. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder Cd&R Investment Associates Ix, purchased 314,400 shares of the company’s stock in a transaction dated Thursday, August 9th. The shares were acquired at an average price of $38.77 per share, for a total transaction of $12,189,288.00. The disclosure for this purchase can be found here. In the last 90 days, insiders have bought 332,220 shares of company stock worth $12,914,005. 0.77% of the stock is currently owned by company insiders.

Institutional investors and hedge funds have recently made changes to their positions in the company. We Are One Seven LLC increased its stake in shares of Beacon Roofing Supply by 194.6% during the 1st quarter. We Are One Seven LLC now owns 1,918 shares of the company’s stock worth $102,000 after purchasing an additional 1,267 shares during the last quarter. Macquarie Group Ltd. acquired a new position in shares of Beacon Roofing Supply during the 4th quarter worth $147,000. Suntrust Banks Inc. acquired a new position in shares of Beacon Roofing Supply during the 1st quarter worth $211,000. SG Americas Securities LLC acquired a new position in shares of Beacon Roofing Supply during the 1st quarter worth $244,000. Finally, Jane Street Group LLC acquired a new position in shares of Beacon Roofing Supply during the 2nd quarter worth $226,000.

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.

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Analyst Recommendations for Beacon Roofing Supply (NASDAQ:BECN)

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