Beacon Roofing Supply (BECN) PT Set at $66.00 by Royal Bank of Canada

Beacon Roofing Supply (NASDAQ:BECN) has been given a $66.00 target price by analysts at Royal Bank of Canada in a research note issued on Friday. The firm presently has a “buy” rating on the stock. Royal Bank of Canada’s target price would indicate a potential upside of 19.85% from the stock’s previous close.

A number of other analysts have also weighed in on the stock. Citigroup cut their target price on shares of Beacon Roofing Supply from $65.00 to $60.00 and set a “neutral” rating on the stock in a research note on Friday. BidaskClub lowered shares of Beacon Roofing Supply from a “hold” rating to a “sell” rating in a research note on Wednesday, January 24th. Zacks Investment Research upgraded shares of Beacon Roofing Supply from a “hold” rating to a “buy” rating and set a $70.00 price target on the stock in a research note on Tuesday, January 23rd. Jefferies Group reiterated a “buy” rating and issued a $73.00 price target on shares of Beacon Roofing Supply in a research note on Wednesday, January 17th. Finally, Robert W. Baird reiterated an “outperform” rating and issued a $70.00 price target (up from $55.00) on shares of Beacon Roofing Supply in a research note on Tuesday, November 21st. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and seven have assigned a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average price target of $59.91.

Shares of Beacon Roofing Supply (NASDAQ BECN) opened at $55.07 on Friday. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.35 and a current ratio of 2.06. Beacon Roofing Supply has a one year low of $39.57 and a one year high of $66.47. The firm has a market cap of $3,743.05, a P/E ratio of 24.15, a P/E/G ratio of 1.14 and a beta of 1.35.

Beacon Roofing Supply (NASDAQ:BECN) last released its earnings results on Thursday, February 8th. The company reported $0.68 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.54 by $0.14. Beacon Roofing Supply had a net margin of 3.29% and a return on equity of 10.15%. The firm had revenue of $1.12 billion for the quarter, compared to analyst estimates of $1.10 billion. During the same period in the prior year, the firm earned $0.56 earnings per share. The business’s quarterly revenue was up 12.0% compared to the same quarter last year. analysts predict that Beacon Roofing Supply will post 3.57 EPS for the current fiscal year.

In other news, CEO Paul Isabella sold 40,000 shares of the firm’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 transaction, the chief executive officer now directly owns 172,046 shares in the company, valued at $10,420,826.22. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Ross D. Cooper sold 2,000 shares of the firm’s stock in a transaction that occurred on Tuesday, November 21st. The stock was sold at an average price of $59.75, for a total transaction of $119,500.00. Following the transaction, the executive vice president now owns 7,056 shares in the company, valued at $421,596. The disclosure for this sale can be found here. Corporate insiders own 0.77% of the company’s stock.

Several institutional investors and hedge funds have recently made changes to their positions in BECN. UBS Asset Management Americas Inc. grew its position in shares of Beacon Roofing Supply by 1.4% during the second quarter. UBS Asset Management Americas Inc. now owns 29,235 shares of the company’s stock worth $1,433,000 after acquiring an additional 395 shares during the last quarter. Vanguard Group Inc. grew its position in shares of 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 acquiring an additional 46,661 shares during the last quarter. M&T Bank Corp grew its position in shares of Beacon Roofing Supply by 13.1% during the second quarter. M&T Bank Corp now owns 4,608 shares of the company’s stock worth $226,000 after acquiring an additional 534 shares during the last quarter. Advisor Group Inc. grew its position 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 acquiring an additional 316 shares during the last quarter. Finally, Parametric Portfolio Associates LLC grew its position in shares of Beacon Roofing Supply by 5.8% during the second quarter. Parametric Portfolio Associates LLC now owns 115,779 shares of the company’s stock worth $5,673,000 after acquiring an additional 6,324 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.

Analyst Recommendations for Beacon Roofing Supply (NASDAQ:BECN)

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