Beacon Roofing Supply, Inc. (NASDAQ:BECN)‘s stock had its “neutral” rating reissued by research analysts at Wedbush in a research report issued to clients and investors on Friday. They currently have a $46.00 price target on the stock, down from their prior price target of $52.00. Wedbush’s price objective would suggest a potential downside of 17.31% from the stock’s previous close.

Several other equities research analysts also recently weighed in on the stock. Citigroup Inc. raised their price target on shares of Beacon Roofing Supply from $48.00 to $51.00 and gave the company a “neutral” rating in a research report on Monday, August 28th. KeyCorp raised shares of Beacon Roofing Supply from a “sector weight” rating to an “overweight” rating and set a $52.00 price target for the company in a research report on Friday, August 25th. Zacks Investment Research raised shares of Beacon Roofing Supply from a “strong sell” rating to a “hold” rating and set a $58.00 price target for the company in a research report on Tuesday, October 3rd. SunTrust Banks, Inc. reissued a “buy” rating on shares of Beacon Roofing Supply in a research report on Tuesday, September 12th. Finally, Wells Fargo & Company initiated coverage on shares of Beacon Roofing Supply in a research report on Wednesday, October 18th. They set a “market perform” rating and a $58.00 price target for the company. One research analyst has rated the stock with a sell rating, five have issued a hold rating and seven have assigned a buy rating to the stock. The company has an average rating of “Hold” and a consensus price target of $53.08.

Shares of Beacon Roofing Supply (NASDAQ BECN) opened at $55.63 on Friday. The firm has a market cap of $3,712.30, a P/E ratio of 26.24, a P/E/G ratio of 2.55 and a beta of 1.45. The company has a current ratio of 2.30, a quick ratio of 1.36 and a debt-to-equity ratio of 0.86. Beacon Roofing Supply has a 1 year low of $39.57 and a 1 year high of $56.36.

WARNING: This story was originally reported by Watch List News and is owned by of Watch List News. If you are viewing this story on another website, it was stolen and republished in violation of United States & international copyright and trademark law. The legal version of this story can be read at https://www.watchlistnews.com/beacon-roofing-supply-inc-becn-rating-reiterated-by-wedbush/1713985.html.

A number of large investors have recently bought and sold shares of BECN. Vanguard Group Inc. boosted its stake in shares of Beacon Roofing Supply by 1.0% during the 2nd quarter. Vanguard Group Inc. now owns 4,892,191 shares of the company’s stock worth $239,718,000 after acquiring an additional 46,661 shares during the last quarter. BlackRock Inc. boosted its stake in shares of Beacon Roofing Supply by 1.2% during the 2nd quarter. BlackRock Inc. now owns 4,069,752 shares of the company’s stock worth $199,416,000 after acquiring an additional 47,779 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of Beacon Roofing Supply by 3.9% during the 3rd quarter. Dimensional Fund Advisors LP now owns 2,505,823 shares of the company’s stock worth $128,424,000 after acquiring an additional 93,832 shares during the last quarter. TimesSquare Capital Management LLC boosted its stake in shares of Beacon Roofing Supply by 108.4% during the 3rd quarter. TimesSquare Capital Management LLC now owns 2,362,015 shares of the company’s stock worth $121,053,000 after acquiring an additional 1,228,625 shares during the last quarter. Finally, Lord Abbett & CO. LLC boosted its stake in shares of Beacon Roofing Supply by 10.4% during the 2nd quarter. Lord Abbett & CO. LLC now owns 1,873,615 shares of the company’s stock worth $91,807,000 after acquiring an additional 176,659 shares during the last quarter. 92.50% of the stock is owned by institutional investors and hedge funds.

Beacon Roofing Supply Company Profile

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)

Receive News & Ratings for Beacon Roofing Supply Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Beacon Roofing Supply Inc. and related companies with Analyst Ratings Network's FREE daily email newsletter.