Beacon Roofing Supply, Inc. (NASDAQ:BECN) – Research analysts at Jefferies Group reduced their Q1 2018 earnings per share (EPS) estimates for Beacon Roofing Supply in a report released on Tuesday, according to Zacks Investment Research. Jefferies Group analyst P. Ng now forecasts that the company will post earnings per share of $0.42 for the quarter, down from their prior estimate of $0.53. Jefferies Group currently has a “Buy” rating and a $54.00 price target on the stock.
BECN has been the topic of several other research reports. SunTrust Banks restated a “buy” rating and set a $55.00 price target on shares of Beacon Roofing Supply in a research report on Monday, October 2nd. KeyCorp upgraded shares of Beacon Roofing Supply from a “sector weight” rating to an “overweight” rating and set a $52.00 target price on the stock in a research report on Friday, August 25th. Royal Bank Of Canada reiterated an “outperform” rating and issued a $63.00 target price (up previously from $62.00) on shares of Beacon Roofing Supply in a research report on Tuesday, November 21st. Citigroup lifted their target price 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. Finally, Wells Fargo & Company initiated coverage on shares of Beacon Roofing Supply in a research report on Wednesday, October 18th. They issued a “market perform” rating and a $58.00 target price on the stock. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. The stock currently has an average rating of “Buy” and a consensus price target of $56.58.
Beacon Roofing Supply (NASDAQ:BECN) traded up $0.17 during mid-day trading on Wednesday, reaching $62.00. 941,238 shares of the company traded hands, compared to its average volume of 527,859. The firm 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. 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 has a 52 week low of $39.57 and a 52 week high of $64.88.
Beacon Roofing Supply (NASDAQ:BECN) last issued its earnings results on Monday, November 20th. The company reported $0.93 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate 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 business had revenue of $1.29 billion for the quarter, compared to analysts’ expectations of $1.26 billion. During the same period last year, the business earned $0.88 EPS. The company’s revenue for the quarter was up 9.8% on a year-over-year basis.
In other Beacon Roofing Supply news, EVP Ross D. Cooper sold 2,000 shares of Beacon Roofing Supply stock in a transaction dated Tuesday, November 21st. The shares were sold at an average price of $59.75, for a total transaction of $119,500.00. Following the transaction, the executive vice president now directly owns 7,056 shares of the company’s stock, valued at $421,596. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Paul Isabella sold 40,000 shares of the business’s 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 directly owns 172,046 shares in the company, valued at $10,420,826.22. The disclosure for this sale can be found here. 0.75% of the stock is owned by insiders.
Several institutional investors have recently added to or reduced their stakes in the company. SG Americas Securities LLC acquired a new position in shares of Beacon Roofing Supply in the second quarter valued at approximately $100,000. Advisors Asset Management Inc. grew its holdings in shares of Beacon Roofing Supply by 36.7% in the second quarter. Advisors Asset Management Inc. now owns 2,105 shares of the company’s stock valued at $103,000 after purchasing an additional 565 shares in the last quarter. Zions Bancorporation acquired a new position in shares of Beacon Roofing Supply in the third quarter valued at approximately $124,000. Huntington National Bank grew its holdings 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 purchasing an additional 116 shares in the last quarter. Finally, Lloyds Banking Group plc grew its holdings in shares of Beacon Roofing Supply by 37.7% in the second quarter. Lloyds Banking Group plc now owns 3,694 shares of the company’s stock valued at $180,000 after purchasing an additional 1,012 shares in 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.
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