Beacon Roofing Supply, Inc. (NASDAQ:BECN)‘s stock had its “buy” rating reissued by equities research analysts at KeyCorp in a research report issued on Sunday. They currently have a $56.00 target price on the stock. KeyCorp’s price objective would suggest a potential upside of 6.20% from the company’s previous close.

A number of other research firms have also recently issued reports on BECN. Zacks Investment Research upgraded shares of Beacon Roofing Supply from a “hold” rating to a “buy” rating and set a $55.00 price target for the company in a report on Wednesday, July 5th. SunTrust Banks, Inc. restated a “buy” rating on shares of Beacon Roofing Supply in a report on Tuesday, September 12th. Northcoast Research upgraded shares of Beacon Roofing Supply from a “neutral” rating to a “buy” rating and set a $53.00 price target for the company in a report on Friday, August 25th. Robert W. Baird reiterated a “buy” rating and issued a $55.00 target price on shares of Beacon Roofing Supply in a research note on Thursday, October 12th. Finally, Royal Bank Of Canada reiterated a “buy” rating and issued a $53.00 target price on shares of Beacon Roofing Supply in a research note on Tuesday, October 10th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and seven have issued a buy rating to the company. The stock currently has an average rating of “Buy” and an average price target of $52.73.

Beacon Roofing Supply (NASDAQ BECN) opened at 52.73 on Friday. The company has a 50 day moving average price of $49.89 and a 200 day moving average price of $48.19. Beacon Roofing Supply has a 1-year low of $39.57 and a 1-year high of $53.11. The firm has a market cap of $3.18 billion, a PE ratio of 31.31 and a beta of 1.32.

Beacon Roofing Supply (NASDAQ:BECN) last released its quarterly earnings results on Wednesday, August 2nd. The company reported $0.84 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.90 by ($0.06). Beacon Roofing Supply had a net margin of 2.42% and a return on equity of 9.55%. The firm had revenue of $1.21 billion for the quarter, compared to the consensus estimate of $1.27 billion. During the same quarter last year, the company earned $0.77 earnings per share. The firm’s revenue was up 5.3% on a year-over-year basis. On average, equities research analysts forecast that Beacon Roofing Supply will post $2.19 earnings per share for the current year.

COPYRIGHT VIOLATION WARNING: “KeyCorp Reiterates Buy Rating for Beacon Roofing Supply, Inc. (BECN)” was reported by Watch List News and is the property of of Watch List News. If you are reading this news story on another domain, it was illegally copied and republished in violation of United States and international trademark & copyright law. The correct version of this news story can be read at https://www.watchlistnews.com/keycorp-reiterates-buy-rating-for-beacon-roofing-supply-inc-becn/1635466.html.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in BECN. Vanguard Group Inc. lifted its stake in Beacon Roofing Supply by 1.0% during the second quarter. Vanguard Group Inc. now owns 4,892,191 shares of the company’s stock worth $239,718,000 after purchasing an additional 46,661 shares during the period. BlackRock Inc. lifted its stake in Beacon Roofing Supply by 1.2% during the second quarter. BlackRock Inc. now owns 4,069,752 shares of the company’s stock worth $199,416,000 after purchasing an additional 47,779 shares during the period. Dimensional Fund Advisors LP lifted its stake in Beacon Roofing Supply by 4.9% during the first quarter. Dimensional Fund Advisors LP now owns 2,409,749 shares of the company’s stock worth $118,462,000 after purchasing an additional 113,306 shares during the period. Lord Abbett & CO. LLC lifted its stake in Beacon Roofing Supply by 10.4% during the second quarter. Lord Abbett & CO. LLC now owns 1,873,615 shares of the company’s stock worth $91,807,000 after purchasing an additional 176,659 shares during the period. Finally, Goldman Sachs Group Inc. lifted its stake in Beacon Roofing Supply by 2.3% during the first quarter. Goldman Sachs Group Inc. now owns 1,510,316 shares of the company’s stock worth $74,247,000 after purchasing an additional 33,546 shares during the period. Institutional investors and hedge funds own 90.92% of the company’s stock.

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)

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.