Beacon Roofing Supply (BECN) Upgraded by BidaskClub to Hold

BidaskClub upgraded shares of Beacon Roofing Supply (NASDAQ:BECN) from a sell rating to a hold rating in a research note issued to investors on Wednesday.

A number of other equities research analysts have also recently commented on the stock. Stephens reissued a buy rating and set a $40.00 target price on shares of Beacon Roofing Supply in a research report on Friday, November 23rd. Wells Fargo & Co raised shares of Beacon Roofing Supply from an underperform rating to a market perform rating and set a $32.00 target price for the company in a research report on Wednesday, November 21st. Jefferies Financial Group decreased their target price on shares of Beacon Roofing Supply from $34.00 to $30.00 and set a hold rating for the company in a research report on Wednesday, November 21st. Royal Bank of Canada set a $28.00 price target on shares of Beacon Roofing Supply and gave the stock a hold rating in a report on Tuesday, November 20th. Finally, Seaport Global Securities set a $34.00 price target on shares of Beacon Roofing Supply and gave the stock a buy rating in a report on Tuesday, November 20th. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating and seven have issued a buy rating to the company’s stock. The stock presently has a consensus rating of Hold and an average target price of $41.13.

NASDAQ:BECN opened at $34.86 on Wednesday. Beacon Roofing Supply has a 52 week low of $24.97 and a 52 week high of $66.47. The company has a debt-to-equity ratio of 1.38, a current ratio of 1.59 and a quick ratio of 0.97. The company has a market cap of $2.38 billion, a P/E ratio of 12.91, a PEG ratio of 0.59 and a beta of 1.44.

Beacon Roofing Supply (NASDAQ:BECN) last posted its earnings results on Monday, November 19th. The company reported $1.07 EPS for the quarter, missing the Zacks’ consensus estimate of $1.36 by ($0.29). Beacon Roofing Supply had a net margin of 1.54% and a return on equity of 11.23%. The firm had revenue of $1.94 billion for the quarter, compared to analysts’ expectations of $2.01 billion. During the same period in the previous year, the company earned $0.93 EPS. The company’s revenue was up 50.4% on a year-over-year basis. As a group, equities analysts anticipate that Beacon Roofing Supply will post 3.14 EPS for the current fiscal year.

In related news, Director Carl T. Berquist purchased 5,000 shares of the firm’s stock in a transaction on Monday, November 26th. The stock was acquired at an average price of $33.05 per share, with a total value of $165,250.00. Following the completion of the acquisition, the director now owns 10,000 shares in the company, valued at approximately $330,500. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Richard W. Frost purchased 10,675 shares of the firm’s stock in a transaction on Wednesday, November 21st. The stock was bought at an average cost of $31.61 per share, with a total value of $337,436.75. Following the acquisition, the director now owns 22,495 shares of the company’s stock, valued at approximately $711,066.95. The disclosure for this purchase can be found here. In the last ninety days, insiders acquired 23,625 shares of company stock valued at $753,469. Corporate insiders own 0.77% of the company’s stock.

Hedge funds and other institutional investors have recently bought and sold shares of the business. BlackRock Inc. increased its stake in shares of Beacon Roofing Supply by 1.3% in the second quarter. BlackRock Inc. now owns 5,024,154 shares of the company’s stock worth $214,131,000 after acquiring an additional 65,371 shares during the period. Private Management Group Inc. acquired a new stake in shares of Beacon Roofing Supply in the second quarter worth $5,739,000. Soapstone Management L.P. acquired a new stake in shares of Beacon Roofing Supply in the second quarter worth $8,524,000. Macquarie Group Ltd. acquired a new stake in shares of Beacon Roofing Supply in the second quarter worth $755,000. Finally, Skylands Capital LLC increased its stake in shares of Beacon Roofing Supply by 9.2% in the third quarter. Skylands Capital LLC now owns 613,750 shares of the company’s stock worth $22,212,000 after acquiring an additional 51,950 shares during the period.

Beacon Roofing Supply Company Profile

Beacon Roofing Supply, Inc, together with its subsidiaries, distributes residential and commercial roofing materials, and other complementary building materials to contractors, home builders, retailers, and building materials suppliers. The company's residential roofing products include asphalt shingles, synthetic slates and tiles, clay and concrete tiles, slates, nail base insulations, metal roofing, felts, synthetic underlayment, wood shingles and shakes, nails and fasteners, metal edgings and flashings, prefabricated flashings, ridges and soffit vents, and solar systems.

Featured Story: Why is insider trading harmful?

Analyst Recommendations for Beacon Roofing Supply (NASDAQ:BECN)

Receive News & Ratings for Beacon Roofing Supply Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Beacon Roofing Supply and related companies with MarketBeat.com's FREE daily email newsletter.

Comments

Leave a Reply


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on reddit