Beacon Roofing Supply, Inc. (NASDAQ:BECN)‘s stock had its “neutral” rating reissued by equities research analysts at Wedbush in a report released on Friday. They currently have a $46.00 target price on the stock, down from their prior target price of $52.00. Wedbush’s price target indicates a potential downside of 16.62% from the stock’s previous close.
Other analysts have also issued reports about the stock. Royal Bank Of Canada reaffirmed a “buy” rating and issued a $58.00 price objective on shares of Beacon Roofing Supply in a research note on Monday, July 24th. BidaskClub lowered shares of Beacon Roofing Supply from a “sell” rating to a “strong sell” rating in a research note on Wednesday, August 2nd. KeyCorp reaffirmed a “buy” rating and issued a $56.00 price objective on shares of Beacon Roofing Supply in a research note on Sunday, October 15th. SunTrust Banks, Inc. reaffirmed a “buy” rating and issued a $55.00 price objective on shares of Beacon Roofing Supply in a research note on Friday, November 10th. Finally, Zacks Investment Research raised shares of Beacon Roofing Supply from a “strong sell” rating to a “hold” rating and set a $58.00 price objective for the company in a research note on Tuesday, October 3rd. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and seven have issued a buy rating to the company. Beacon Roofing Supply presently has an average rating of “Hold” and a consensus price target of $53.08.
Shares of Beacon Roofing Supply (BECN) opened at $55.17 on Friday. Beacon Roofing Supply has a one year low of $39.57 and a one year high of $56.36. The firm has a market cap of $3,654.93, a PE ratio of 25.83, a P/E/G ratio of 2.51 and a beta of 1.45. The company has a quick ratio of 1.36, a current ratio of 2.30 and a debt-to-equity ratio of 0.86.
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Several hedge funds have recently added to or reduced their stakes in BECN. Principal Financial Group Inc. lifted its position in shares of Beacon Roofing Supply by 1.9% during the first quarter. Principal Financial Group Inc. now owns 30,621 shares of the company’s stock valued at $1,506,000 after buying an additional 585 shares during the last quarter. State Street Corp increased its holdings in Beacon Roofing Supply by 2.4% in the 1st quarter. State Street Corp now owns 1,115,764 shares of the company’s stock worth $54,844,000 after buying an additional 26,202 shares during the period. Paloma Partners Management Co acquired a new position in Beacon Roofing Supply in the 1st quarter worth approximately $250,000. Bank of Montreal Can increased its holdings in Beacon Roofing Supply by 9.7% in the 2nd quarter. Bank of Montreal Can now owns 61,767 shares of the company’s stock worth $3,027,000 after buying an additional 5,463 shares during the period. Finally, Aperio Group LLC increased its holdings in Beacon Roofing Supply by 4.8% in the 2nd quarter. Aperio Group LLC now owns 12,060 shares of the company’s stock worth $591,000 after buying an additional 547 shares during the period. 92.50% of the stock is owned by institutional investors and hedge funds.
About Beacon Roofing Supply
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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