Beacon Roofing Supply (NASDAQ:BECN) Stock Rating Reaffirmed by SunTrust Banks

Beacon Roofing Supply (NASDAQ:BECN)‘s stock had its “buy” rating restated by equities researchers at SunTrust Banks in a research report issued on Friday, November 10th. They currently have a $55.00 price objective on the stock. SunTrust Banks’ target price would indicate a potential downside of 13.18% from the company’s current price.

Other equities analysts have also issued reports about the stock. Citigroup boosted their price target on shares of Beacon Roofing Supply from $48.00 to $51.00 and gave the stock a “neutral” rating in a research report on Monday, August 28th. KeyCorp upgraded shares of Beacon Roofing Supply from a “sector weight” rating to an “overweight” rating and set a $52.00 price target on the stock in a research report on Friday, August 25th. Wells Fargo & Company started coverage on shares of Beacon Roofing Supply in a research report on Wednesday, October 18th. They set a “market perform” rating and a $58.00 price target on the stock. Zacks Investment Research upgraded shares of Beacon Roofing Supply from a “strong sell” rating to a “hold” rating and set a $58.00 price target on the stock in a research report on Tuesday, October 3rd. Finally, Northcoast Research upgraded shares of Beacon Roofing Supply from a “neutral” rating to a “buy” rating and set a $53.00 price target on the stock in a research report on Friday, August 25th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average price target of $56.58.

Beacon Roofing Supply (NASDAQ BECN) traded up $1.90 during mid-day trading on Friday, hitting $63.35. 1,250,900 shares of the stock were exchanged, compared to its average volume of 520,270. The stock has a market capitalization of $4,080.00, a PE ratio of 28.24, a P/E/G ratio of 0.80 and a beta of 1.45. The company has a quick ratio of 1.35, a current ratio of 2.06 and a debt-to-equity ratio of 0.42. Beacon Roofing Supply has a twelve month low of $39.57 and a twelve month high of $63.62.

Beacon Roofing Supply (NASDAQ:BECN) last released its earnings results on Monday, November 20th. The company reported $0.93 EPS for the quarter, missing analysts’ consensus estimates of $0.94 by ($0.01). The company had revenue of $1.29 billion for the quarter, compared to analysts’ expectations of $1.26 billion. Beacon Roofing Supply had a return on equity of 9.09% and a net margin of 2.30%. The firm’s revenue for the quarter was up 9.8% on a year-over-year basis. During the same period in the prior year, the firm earned $0.88 EPS. equities research analysts expect that Beacon Roofing Supply will post 3.08 earnings per share for the current year.

In other Beacon Roofing Supply news, EVP Ross D. Cooper sold 2,000 shares of the business’s stock in a transaction dated Tuesday, November 21st. The shares were 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 in the company, valued at approximately $421,596. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Paul Isabella sold 40,000 shares of the business’s stock in a transaction dated Monday, November 27th. The shares were sold at an average price of $60.57, for a total transaction of $2,422,800.00. Following the completion of the transaction, the chief executive officer now owns 172,046 shares in the company, valued at $10,420,826.22. The disclosure for this sale can be found here. Insiders own 0.75% of the company’s stock.

A number of large investors have recently bought and sold shares of BECN. Principal Financial Group Inc. boosted its holdings in Beacon Roofing Supply by 1.9% in the 1st quarter. Principal Financial Group Inc. now owns 30,621 shares of the company’s stock valued at $1,506,000 after purchasing an additional 585 shares during the last quarter. Teachers Advisors LLC raised its stake in shares of Beacon Roofing Supply by 1.6% in the 1st quarter. Teachers Advisors LLC now owns 385,650 shares of the company’s stock valued at $18,959,000 after acquiring an additional 5,912 shares during the period. BlackRock Inc. raised its stake in shares of Beacon Roofing Supply by 80,484.5% in the 1st quarter. BlackRock Inc. now owns 4,021,973 shares of the company’s stock valued at $197,720,000 after acquiring an additional 4,016,982 shares during the period. State Street Corp raised its stake in shares of Beacon Roofing Supply by 2.4% in the 1st quarter. State Street Corp now owns 1,115,764 shares of the company’s stock valued at $54,844,000 after acquiring an additional 26,202 shares during the period. Finally, Paloma Partners Management Co purchased a new stake in shares of Beacon Roofing Supply in the 1st quarter valued at approximately $250,000.

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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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