Jefferies Group reaffirmed their buy rating on shares of Beacon Roofing Supply (NASDAQ:BECN) in a research report sent to investors on Wednesday morning. Jefferies Group currently has a $73.00 price objective on the stock. Jefferies Group also issued estimates for Beacon Roofing Supply’s Q1 2018 earnings at $0.60 EPS, Q2 2018 earnings at ($0.10) EPS, Q3 2018 earnings at $1.35 EPS, Q4 2018 earnings at $1.54 EPS, FY2018 earnings at $3.54 EPS and FY2019 earnings at $4.42 EPS.
Other research analysts have also recently issued reports about the company. SunTrust Banks reaffirmed a buy rating and set a $55.00 price objective on shares of Beacon Roofing Supply in a research report on Monday, October 2nd. KeyCorp reaffirmed a buy rating and set a $56.00 price objective on shares of Beacon Roofing Supply in a research report on Sunday, October 15th. Robert W. Baird reaffirmed a buy rating and set a $55.00 price objective on shares of Beacon Roofing Supply in a research report on Thursday, October 12th. Royal Bank of Canada reaffirmed a buy rating and set a $53.00 price objective on shares of Beacon Roofing Supply in a research report on Tuesday, October 10th. Finally, BidaskClub raised Beacon Roofing Supply from a hold rating to a buy rating in a research report on Friday, December 29th. Five research analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company. The stock presently has an average rating of Buy and an average target price of $58.64.
Beacon Roofing Supply (BECN) traded up $0.05 during mid-day trading on Wednesday, hitting $62.64. The stock had a trading volume of 676,789 shares, compared to its average volume of 631,627. Beacon Roofing Supply has a 12-month low of $39.57 and a 12-month high of $66.47. The company has a current ratio of 2.06, a quick ratio of 1.35 and a debt-to-equity ratio of 0.42. The stock has a market cap of $4,240.00, a PE ratio of 38.20, a P/E/G ratio of 1.30 and a beta of 1.49.
In related news, EVP Ross D. Cooper sold 2,000 shares of the business’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 value of $119,500.00. Following the transaction, the executive vice president now directly owns 7,056 shares of the company’s stock, valued at approximately $421,596. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Paul Isabella sold 40,000 shares of the business’s stock in a transaction that occurred on Monday, November 27th. The stock was sold at an average price of $60.57, for a total value of $2,422,800.00. Following the completion of the transaction, the chief executive officer now directly owns 172,046 shares in the company, valued at $10,420,826.22. The disclosure for this sale can be found here. 0.77% of the stock is currently owned by insiders.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. SG Americas Securities LLC purchased a new position in Beacon Roofing Supply in the 2nd quarter worth approximately $100,000. Zions Bancorporation purchased a new position in Beacon Roofing Supply in the 3rd quarter worth approximately $124,000. Advisor Group Inc. lifted its holdings in Beacon Roofing Supply by 8.9% in the 2nd quarter. Advisor Group Inc. now owns 3,877 shares of the company’s stock worth $190,000 after purchasing an additional 316 shares in the last quarter. Keybank National Association OH purchased a new position in Beacon Roofing Supply in the 3rd quarter worth approximately $210,000. Finally, CAPROCK Group Inc. purchased a new position in Beacon Roofing Supply in the 4th quarter worth approximately $212,000.
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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.
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