Beacon Roofing Supply (BECN) Rating Reiterated by Jefferies Group

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.

Beacon Roofing Supply (NASDAQ:BECN) last posted its quarterly earnings data on Monday, November 20th. The company reported $0.93 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.94 by ($0.01). Beacon Roofing Supply had a net margin of 2.30% and a return on equity of 9.09%. The company had revenue of $1.29 billion for the quarter, compared to analysts’ expectations of $1.26 billion. During the same period in the previous year, the firm earned $0.88 earnings per share. The firm’s quarterly revenue was up 9.8% on a year-over-year basis. equities analysts forecast that Beacon Roofing Supply will post 3.2 earnings per share for the current year.

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.

Analyst Recommendations for Beacon Roofing Supply (NASDAQ:BECN)

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