Beacon Roofing Supply (NASDAQ:BECN) was downgraded by research analysts at BidaskClub from a “buy” rating to a “hold” rating in a research note issued to investors on Tuesday.
Other equities research analysts also recently issued reports about the stock. SunTrust Banks lifted their price target on shares of Beacon Roofing Supply to $62.00 and gave the company a “buy” rating in a research report on Tuesday, November 21st. KeyCorp reiterated a “buy” rating and issued a $56.00 price target on shares of Beacon Roofing Supply in a research report on Tuesday, September 12th. Robert W. Baird reiterated a “buy” rating and issued a $55.00 price target on shares of Beacon Roofing Supply in a research report on Thursday, October 12th. Royal Bank of Canada reiterated a “buy” rating and issued a $53.00 price target on shares of Beacon Roofing Supply in a research report on Tuesday, October 10th. Finally, Zacks Investment Research upgraded 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. Five investment analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. Beacon Roofing Supply has an average rating of “Buy” and an average target price of $56.91.
Beacon Roofing Supply (NASDAQ BECN) traded down $0.80 during midday trading on Tuesday, hitting $62.96. 973,500 shares of the stock were exchanged, compared to its average volume of 665,200. 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 $66.47. The firm has a market capitalization of $4,240.00, a P/E ratio of 38.39, a price-to-earnings-growth ratio of 0.82 and a beta of 1.49.
Beacon Roofing Supply (NASDAQ:BECN) last released its quarterly 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 net margin of 2.30% and a return on equity of 9.09%. The business had revenue of $1.29 billion during the quarter, compared to analyst estimates of $1.26 billion. During the same quarter in the previous year, the firm posted $0.88 earnings per share. The firm’s quarterly revenue was up 9.8% on a year-over-year basis. research analysts predict that Beacon Roofing Supply will post 3.16 earnings per share for the current year.
In other Beacon Roofing Supply news, EVP Ross D. Cooper sold 2,000 shares of the business’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 transaction, the executive vice president now directly owns 7,056 shares in the company, valued at $421,596. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Paul Isabella sold 40,000 shares of the business’s stock in a transaction on Monday, November 27th. The stock was sold at an average price of $60.57, for a total transaction of $2,422,800.00. Following the sale, the chief executive officer now directly owns 172,046 shares in the company, valued at approximately $10,420,826.22. The disclosure for this sale can be found here. 0.75% of the stock is owned by insiders.
Several hedge funds and other institutional investors have recently bought and sold shares of BECN. SG Americas Securities LLC bought a new stake in shares of Beacon Roofing Supply during the second quarter worth $100,000. Zions Bancorporation bought a new stake in shares of Beacon Roofing Supply during the third quarter worth $124,000. Advisor Group Inc. grew its stake in shares of Beacon Roofing Supply by 8.9% during the second quarter. Advisor Group Inc. now owns 3,877 shares of the company’s stock worth $190,000 after buying an additional 316 shares during the last quarter. Keybank National Association OH bought a new stake in shares of Beacon Roofing Supply during the third quarter worth $210,000. Finally, GSA Capital Partners LLP bought a new stake in shares of Beacon Roofing Supply during the third quarter worth $214,000.
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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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