Beacon Roofing Supply, Inc. (BECN) Receives Consensus Rating of “Hold” from Analysts

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Beacon Roofing Supply, Inc. (NASDAQ:BECN) has been assigned an average rating of “Hold” from the eighteen ratings firms that are currently covering the firm, MarketBeat Ratings reports. Four research analysts have rated the stock with a sell recommendation, five have given a hold recommendation and eight have assigned a buy recommendation to the company. The average twelve-month target price among brokerages that have covered the stock in the last year is $52.62.

A number of research firms have weighed in on BECN. TheStreet lowered shares of Beacon Roofing Supply from a “b-” rating to a “c+” rating in a research note on Friday, June 1st. BidaskClub downgraded shares of Beacon Roofing Supply from a “hold” rating to a “sell” rating in a report on Tuesday, July 3rd. Citigroup upgraded shares of Beacon Roofing Supply from a “neutral” rating to a “buy” rating in a report on Wednesday, June 27th. Wedbush cut their price target on shares of Beacon Roofing Supply from $65.00 to $50.00 and set an “outperform” rating for the company in a report on Wednesday, August 8th. Finally, Seaport Global Securities set a $52.00 price target on shares of Beacon Roofing Supply and gave the stock a “buy” rating in a report on Sunday, August 12th.

Beacon Roofing Supply stock traded down $0.45 during midday trading on Friday, reaching $39.45. The company had a trading volume of 15,129 shares, compared to its average volume of 1,012,317. The firm has a market capitalization of $2.75 billion, a PE ratio of 17.97, a P/E/G ratio of 0.70 and a beta of 1.14. Beacon Roofing Supply has a 12-month low of $35.04 and a 12-month high of $66.47. The company has a current ratio of 2.07, a quick ratio of 1.14 and a debt-to-equity ratio of 1.63.

Beacon Roofing Supply (NASDAQ:BECN) last released its earnings results on Tuesday, August 7th. The company reported $1.18 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.32 by ($0.14). Beacon Roofing Supply had a return on equity of 9.94% and a net margin of 1.65%. The business had revenue of $1.93 billion during the quarter, compared to analysts’ expectations of $2.07 billion. During the same period last year, the business earned $0.84 earnings per share. sell-side analysts predict that Beacon Roofing Supply will post 3.03 EPS for the current fiscal year.

In related news, major shareholder Cd&R Investment Associates Ix, bought 314,400 shares of the company’s stock in a transaction that occurred on Thursday, August 9th. The stock was purchased at an average price of $38.77 per share, for a total transaction of $12,189,288.00. The acquisition was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Philip Knisely purchased 6,000 shares of the company’s stock in a transaction on Thursday, August 16th. The stock was acquired at an average price of $37.14 per share, with a total value of $222,840.00. Following the purchase, the director now owns 6,000 shares of the company’s stock, valued at $222,840. The disclosure for this purchase can be found here. 0.77% of the stock is currently owned by company insiders.

Several large investors have recently bought and sold shares of BECN. Iridian Asset Management LLC CT acquired a new position in shares of Beacon Roofing Supply in the second quarter worth $57,840,000. Glenmede Trust Co. NA grew its stake in shares of Beacon Roofing Supply by 21,562.2% in the second quarter. Glenmede Trust Co. NA now owns 831,180 shares of the company’s stock worth $35,425,000 after acquiring an additional 827,343 shares in the last quarter. Bank of New York Mellon Corp grew its stake in shares of Beacon Roofing Supply by 47.3% in the second quarter. Bank of New York Mellon Corp now owns 1,628,136 shares of the company’s stock worth $69,392,000 after acquiring an additional 522,722 shares in the last quarter. Wells Fargo & Company MN grew its stake in shares of Beacon Roofing Supply by 84.4% in the second quarter. Wells Fargo & Company MN now owns 941,652 shares of the company’s stock worth $40,132,000 after acquiring an additional 430,921 shares in the last quarter. Finally, Sapience Investments LLC grew its stake in shares of Beacon Roofing Supply by 391.1% in the second quarter. Sapience Investments LLC now owns 468,045 shares of the company’s stock worth $19,948,000 after acquiring an additional 372,745 shares in the last quarter.

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 other accessories.

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Analyst Recommendations for Beacon Roofing Supply (NASDAQ:BECN)

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