BidaskClub cut shares of Beacon Roofing Supply (NASDAQ:BECN) from a buy rating to a hold rating in a research note released on Tuesday.
BECN has been the topic of several other research reports. Wells Fargo & Co initiated coverage on Beacon Roofing Supply in a report on Wednesday, October 18th. They issued a market perform rating and a $58.00 price target on the stock. SunTrust Banks reissued a buy rating on shares of Beacon Roofing Supply in a research note on Tuesday, September 12th. Royal Bank of Canada reissued a buy rating and issued a $53.00 target price on shares of Beacon Roofing Supply in a research note on Tuesday, October 10th. Wedbush reissued a neutral rating and issued a $46.00 target price (down previously from $52.00) on shares of Beacon Roofing Supply in a research note on Friday, November 17th. Finally, KeyCorp reissued a buy rating and issued a $56.00 target price on shares of Beacon Roofing Supply in a research note on Tuesday, September 12th. Five research analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. The stock has a consensus rating of Buy and a consensus target price of $56.91.
Beacon Roofing Supply (BECN) traded up $1.01 during trading on Tuesday, reaching $63.46. The company had a trading volume of 653,358 shares, compared to its average volume of 691,433. The company has a market capitalization of $4,300.00, a PE ratio of 38.70, a price-to-earnings-growth ratio of 0.82 and a beta of 1.49. Beacon Roofing Supply has a fifty-two week low of $39.57 and a fifty-two week high of $66.47. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.35 and a current ratio of 2.06.
Beacon Roofing Supply (NASDAQ:BECN) last posted its quarterly earnings results on Monday, November 20th. The company reported $0.93 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.94 by ($0.01). The firm had revenue of $1.29 billion during the quarter, compared to the consensus estimate of $1.26 billion. Beacon Roofing Supply had a net margin of 2.30% and a return on equity of 9.09%. Beacon Roofing Supply’s revenue was up 9.8% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.88 EPS. research analysts predict that Beacon Roofing Supply will post 3.16 earnings per share for the current fiscal year.
In other Beacon Roofing Supply news, CEO Paul Isabella sold 40,000 shares of the stock in a transaction dated 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 transaction, the chief executive officer now owns 172,046 shares of the company’s stock, valued at $10,420,826.22. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Ross D. Cooper sold 2,000 shares of the 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 completion of the transaction, the executive vice president now directly owns 7,056 shares in the company, valued at approximately $421,596. The disclosure for this sale can be found here. Corporate insiders own 0.75% of the company’s stock.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in BECN. SG Americas Securities LLC acquired a new stake in shares of Beacon Roofing Supply during the second quarter worth about $100,000. Zions Bancorporation acquired a new stake in shares of Beacon Roofing Supply during the third quarter worth about $124,000. Advisor Group Inc. raised its position in shares of Beacon Roofing Supply by 8.9% during the second quarter. Advisor Group Inc. now owns 3,877 shares of the company’s stock worth $190,000 after purchasing an additional 316 shares during the period. Keybank National Association OH acquired a new stake in shares of Beacon Roofing Supply during the third quarter worth about $210,000. Finally, Cambridge Investment Research Advisors Inc. acquired a new stake in shares of Beacon Roofing Supply during the third quarter worth about $214,000.
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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