Beacon Roofing Supply, Inc. (NASDAQ:BECN)‘s stock had its “neutral” rating reissued by investment analysts at William Blair in a report released on Friday, April 14th. They currently have a $45.00 price target on the stock. William Blair’s price target points to a potential downside of 6.35% from the stock’s current price.
A number of other analysts have also commented on the company. Zacks Investment Research raised Beacon Roofing Supply from a “sell” rating to a “buy” rating and set a $56.00 target price for the company in a report on Thursday, April 13th. Jefferies Group LLC reaffirmed a “hold” rating and issued a $46.00 price objective on shares of Beacon Roofing Supply in a report on Monday, February 6th. Three equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. The stock has an average rating of “Buy” and an average price target of $51.89.
Beacon Roofing Supply (NASDAQ:BECN) traded up 0.94% during midday trading on Friday, hitting $48.50. The stock had a trading volume of 101,248 shares. Beacon Roofing Supply has a 12 month low of $39.50 and a 12 month high of $52.12. The firm’s 50-day moving average price is $49.38 and its 200 day moving average price is $46.82. The company has a market cap of $2.92 billion, a P/E ratio of 29.59 and a beta of 1.31.
Beacon Roofing Supply (NASDAQ:BECN) last posted its quarterly earnings data on Thursday, May 4th. The company reported ($0.04) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.06) by $0.02. Beacon Roofing Supply had a return on equity of 9.99% and a net margin of 2.49%. The company had revenue of $870.70 million during the quarter, compared to analyst estimates of $814.74 million. During the same quarter last year, the company earned $0.03 EPS. The firm’s revenue for the quarter was up 5.7% on a year-over-year basis. On average, analysts expect that Beacon Roofing Supply will post $2.38 earnings per share for the current fiscal year.
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Several institutional investors have recently made changes to their positions in BECN. BlackRock Inc. increased its position in shares of Beacon Roofing Supply by 80,484.5% in the first quarter. BlackRock Inc. now owns 4,021,973 shares of the company’s stock valued at $197,720,000 after buying an additional 4,016,982 shares during the last quarter. Aberdeen Asset Management PLC UK increased its position in shares of Beacon Roofing Supply by 71.0% in the fourth quarter. Aberdeen Asset Management PLC UK now owns 1,691,125 shares of the company’s stock valued at $77,910,000 after buying an additional 702,319 shares during the last quarter. Norges Bank purchased a new stake in shares of Beacon Roofing Supply during the fourth quarter valued at about $23,112,000. BlueCrest Capital Management Ltd purchased a new stake in shares of Beacon Roofing Supply during the first quarter valued at about $21,690,000. Finally, TimesSquare Capital Management LLC purchased a new stake in shares of Beacon Roofing Supply during the third quarter valued at about $17,223,000.
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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