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

BECN has been the subject of several other research reports. Wedbush reiterated a neutral rating and set a $47.00 price objective on shares of Beacon Roofing Supply in a report on Wednesday, May 31st. Zacks Investment Research lowered Beacon Roofing Supply from a hold rating to a sell rating in a report on Monday, April 10th. Royal Bank Of Canada reissued a buy rating and issued a $58.00 target price on shares of Beacon Roofing Supply in a research report on Monday, July 24th. William Blair reissued a neutral rating and issued a $45.00 target price on shares of Beacon Roofing Supply in a research report on Friday, April 14th. Finally, Citigroup Inc. reissued a buy rating and issued a $52.00 target price (up from $48.00) on shares of Beacon Roofing Supply in a research report on Thursday, May 11th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and four have assigned a buy rating to the company. The stock currently has an average rating of Hold and an average price target of $51.50.

Beacon Roofing Supply (BECN) traded down 1.36% during mid-day trading on Tuesday, hitting $45.69. The company’s stock had a trading volume of 300,837 shares. The company has a market cap of $2.75 billion, a P/E ratio of 27.88 and a beta of 1.33. The firm’s 50-day moving average is $48.38 and its 200-day moving average is $47.77. Beacon Roofing Supply has a 12-month low of $39.50 and a 12-month high of $52.12.

Beacon Roofing Supply (NASDAQ:BECN) last issued its quarterly earnings data on Thursday, May 4th. The company reported ($0.04) EPS for the quarter, beating the consensus estimate of ($0.06) by $0.02. Beacon Roofing Supply had a return on equity of 9.42% and a net margin of 2.37%. The firm had revenue of $870.70 million during the quarter, compared to analyst estimates of $814.74 million. During the same quarter in the prior year, the business posted $0.03 EPS. The business’s revenue for the quarter was up 5.7% compared to the same quarter last year. Analysts predict that Beacon Roofing Supply will post $2.37 EPS for the current fiscal year.

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A number of large investors have recently made changes to their positions in the company. Genovese Burford & Brothers Wealth & Retirement Plan Management LLC increased its stake in shares of Beacon Roofing Supply by 2,200.0% in the first quarter. Genovese Burford & Brothers Wealth & Retirement Plan Management LLC now owns 2,300 shares of the company’s stock valued at $114,000 after buying an additional 2,200 shares in the last quarter. Lloyds Banking Group plc bought a new stake in shares of Beacon Roofing Supply during the first quarter valued at $131,000. Huntington National Bank increased its stake in shares of Beacon Roofing Supply by 3.8% in the second quarter. Huntington National Bank now owns 3,138 shares of the company’s stock valued at $154,000 after buying an additional 116 shares in the last quarter. Fifth Third Bancorp increased its stake in shares of Beacon Roofing Supply by 20.2% in the first quarter. Fifth Third Bancorp now owns 3,934 shares of the company’s stock valued at $193,000 after buying an additional 661 shares in the last quarter. Finally, Worth Venture Partners LLC bought a new stake in shares of Beacon Roofing Supply during the first quarter valued at $220,000.

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)

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