Beacon Roofing Supply (NASDAQ:BECN) Announces Quarterly Earnings Results

Beacon Roofing Supply (NASDAQ:BECN) issued its quarterly earnings results on Thursday. The company reported $1.65 earnings per share for the quarter, missing the consensus estimate of $1.66 by ($0.01), Zacks reports. Beacon Roofing Supply had a net margin of 3.86% and a return on equity of 25.32%.

Beacon Roofing Supply Trading Down 0.6 %

Shares of Beacon Roofing Supply stock traded down $0.68 during trading hours on Thursday, hitting $115.32. The company’s stock had a trading volume of 543,293 shares, compared to its average volume of 955,708. The company has a quick ratio of 1.14, a current ratio of 1.91 and a debt-to-equity ratio of 1.60. The company has a market capitalization of $7.10 billion, a PE ratio of 19.71 and a beta of 1.62. The business has a fifty day moving average of $112.01 and a 200 day moving average of $101.05. Beacon Roofing Supply has a 1-year low of $77.54 and a 1-year high of $121.42.

Analyst Upgrades and Downgrades

BECN has been the subject of several analyst reports. Benchmark reiterated a “buy” rating and issued a $140.00 target price on shares of Beacon Roofing Supply in a research note on Friday, November 1st. Stephens restated an “equal weight” rating and issued a $103.00 price target on shares of Beacon Roofing Supply in a report on Tuesday, November 19th. Stifel Nicolaus downgraded shares of Beacon Roofing Supply from a “buy” rating to a “hold” rating and dropped their price objective for the company from $131.00 to $122.55 in a research note on Friday, February 7th. Royal Bank of Canada raised their target price on shares of Beacon Roofing Supply from $113.00 to $114.00 and gave the stock an “outperform” rating in a research report on Friday, November 1st. Finally, Zelman & Associates lowered shares of Beacon Roofing Supply from a “strong-buy” rating to a “hold” rating in a research report on Thursday, January 16th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, Beacon Roofing Supply presently has a consensus rating of “Hold” and an average price target of $120.17.

Beacon Roofing Supply Company Profile

Beacon Roofing Supply, Inc, together with its subsidiaries, engages in the distribution of residential and non-residential roofing materials, and complementary building products to contractors, home builders, building owners, lumberyards, and retailers in the United States and Canada. The company offers pitched roofing and low slope roof products; gutters and sidings; building materials, such as lumber and composite, skylights and window, plywood and OSB, decking and railing, and HVAC products; and foam board, spray foam, roll, batt, mineral wool, fiberglass, and commercial insulation products, as well as radiant barriers and blown-in insulation and equipment.