BidaskClub cut shares of Beacon Roofing Supply (NASDAQ:BECN) from a buy rating to a hold rating in a research note issued to investors on Friday morning.

Other research analysts have also issued research reports about the stock. SunTrust Banks reiterated a buy rating and issued a $55.00 price objective on shares of Beacon Roofing Supply in a research note on Monday, October 2nd. Jefferies Group upgraded shares of Beacon Roofing Supply from a hold rating to a buy rating and increased their price target for the stock from $50.00 to $54.00 in a research note on Friday, August 25th. KeyCorp upgraded shares of Beacon Roofing Supply from a sector weight rating to an overweight rating and set a $52.00 price target on the stock in a research note on Friday, August 25th. Royal Bank of Canada restated an outperform rating and set a $63.00 price target (up previously from $62.00) on shares of Beacon Roofing Supply in a research note on Tuesday, November 21st. Finally, Wells Fargo & Company initiated coverage on shares of Beacon Roofing Supply in a research note on Wednesday, October 18th. They issued a market perform rating and a $58.00 target price on the stock. Five investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has an average rating of Buy and a consensus target price of $56.91.

Shares of Beacon Roofing Supply (BECN) opened at $62.39 on Friday. Beacon Roofing Supply has a one year low of $39.57 and a one year high of $64.88. The company has a market cap of $4,175.15, a P/E ratio of 28.41, a P/E/G ratio of 0.80 and a beta of 1.49. The company has a current ratio of 2.06, a quick ratio of 1.35 and a debt-to-equity ratio of 0.42.

Beacon Roofing Supply (NASDAQ:BECN) last released its earnings results on Monday, November 20th. The company reported $0.93 EPS for the quarter, missing the consensus estimate of $0.94 by ($0.01). The business had revenue of $1.29 billion for the quarter, compared to analyst estimates of $1.26 billion. Beacon Roofing Supply had a net margin of 2.30% and a return on equity of 9.09%. The firm’s revenue for the quarter was up 9.8% on a year-over-year basis. During the same period in the prior year, the company earned $0.88 earnings per share. equities analysts predict that Beacon Roofing Supply will post 3.08 EPS for the current year.

In other Beacon Roofing Supply news, EVP Ross D. Cooper sold 2,000 shares of Beacon Roofing Supply stock in a transaction that occurred on Tuesday, November 21st. The shares were sold at an average price of $59.75, for a total value of $119,500.00. Following the transaction, the executive vice president now owns 7,056 shares of the company’s stock, valued at $421,596. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Paul Isabella sold 40,000 shares of the business’s stock in a transaction on Monday, November 27th. The stock was sold at an average price of $60.57, for a total transaction of $2,422,800.00. Following the completion of the sale, the chief executive officer now directly owns 172,046 shares in the company, valued at approximately $10,420,826.22. The disclosure for this sale can be found here. Company insiders own 0.75% of the company’s stock.

Institutional investors and hedge funds have recently modified their holdings of the stock. Aperio Group LLC increased its holdings in shares of Beacon Roofing Supply by 4.8% in the second quarter. Aperio Group LLC now owns 12,060 shares of the company’s stock valued at $591,000 after purchasing an additional 547 shares during the last quarter. Sei Investments Co. grew its stake in shares of Beacon Roofing Supply by 21.3% in the second quarter. Sei Investments Co. now owns 77,004 shares of the company’s stock valued at $3,774,000 after acquiring an additional 13,541 shares in the last quarter. Schwab Charles Investment Management Inc. lifted its position in Beacon Roofing Supply by 5.4% during the second quarter. Schwab Charles Investment Management Inc. now owns 366,870 shares of the company’s stock worth $17,977,000 after purchasing an additional 18,760 shares during the period. DekaBank Deutsche Girozentrale lifted its position in Beacon Roofing Supply by 316.7% during the second quarter. DekaBank Deutsche Girozentrale now owns 12,500 shares of the company’s stock worth $605,000 after purchasing an additional 9,500 shares during the period. Finally, Teacher Retirement System of Texas bought a new position in shares of Beacon Roofing Supply in the second quarter worth about $236,000.

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About Beacon Roofing Supply

Beacon Roofing Supply, Inc is engaged in the distribution of residential and non-residential roofing materials in the United States and Canada. It also distributes complementary building products for residential and non-residential building exteriors. Its product portfolio includes residential roofing products, non-residential roofing products and complementary building products.

Analyst Recommendations for Beacon Roofing Supply (NASDAQ:BECN)

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