Beacon Roofing Supply (NASDAQ:BECN) Receives “Outperform” Rating from Robert W. Baird

Robert W. Baird reaffirmed their outperform rating on shares of Beacon Roofing Supply (NASDAQ:BECN) in a report released on Tuesday, November 21st, The Fly reports. They currently have a $70.00 price target on the stock, up from their prior price target of $55.00.

BECN has been the topic of several other reports. BidaskClub downgraded Beacon Roofing Supply from a hold rating to a sell rating in a research report on Tuesday, July 25th. Northcoast Research raised Beacon Roofing Supply from a neutral rating to a buy rating and set a $53.00 price target on the stock in a research report on Friday, August 25th. SunTrust Banks reaffirmed a buy rating on shares of Beacon Roofing Supply in a research report on Tuesday, September 12th. Royal Bank Of Canada reaffirmed a buy rating and set a $53.00 price target on shares of Beacon Roofing Supply in a research report on Tuesday, October 10th. Finally, Wells Fargo & Company assumed coverage on Beacon Roofing Supply in a research report on Wednesday, October 18th. They set a market perform rating and a $58.00 price target on the stock. One investment analyst has rated the stock with a sell rating, four have given a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. The company currently has a consensus rating of Buy and an average price target of $56.58.

Shares of Beacon Roofing Supply (BECN) traded up $0.17 during trading hours on Tuesday, hitting $62.00. The company’s stock had a trading volume of 941,238 shares, compared to its average volume of 527,859. The company has a quick ratio of 1.35, a current ratio of 2.06 and a debt-to-equity ratio of 0.42. The stock has a market capitalization of $4,210.00, a price-to-earnings ratio of 28.76, a PEG ratio of 0.81 and a beta of 1.49. Beacon Roofing Supply has a fifty-two week low of $39.57 and a fifty-two week high of $64.88.

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

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

A number of institutional investors have recently bought and sold shares of the stock. Public Employees Retirement System of Ohio increased its holdings in Beacon Roofing Supply by 1.6% in the 3rd quarter. Public Employees Retirement System of Ohio now owns 197,664 shares of the company’s stock valued at $10,130,000 after purchasing an additional 3,073 shares during the last quarter. GSA Capital Partners LLP acquired a new stake in Beacon Roofing Supply in the 3rd quarter valued at approximately $214,000. Sterling Capital Management LLC increased its holdings in Beacon Roofing Supply by 3.0% in the 3rd quarter. Sterling Capital Management LLC now owns 45,951 shares of the company’s stock valued at $2,355,000 after purchasing an additional 1,353 shares during the last quarter. DF Dent & Co. Inc. increased its holdings in Beacon Roofing Supply by 61.9% in the 3rd quarter. DF Dent & Co. Inc. now owns 24,599 shares of the company’s stock valued at $1,261,000 after purchasing an additional 9,409 shares during the last quarter. Finally, California Public Employees Retirement System increased its holdings in Beacon Roofing Supply by 3.2% in the 3rd quarter. California Public Employees Retirement System now owns 95,997 shares of the company’s stock valued at $4,920,000 after purchasing an additional 2,997 shares during the last quarter.

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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.

The Fly

Analyst Recommendations for Beacon Roofing Supply (NASDAQ:BECN)

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