A number of other brokerages have also commented on BECN. Zacks Investment Research raised Beacon Roofing Supply from a hold rating to a buy rating and set a $55.00 price objective for the company in a report on Wednesday, July 5th. Royal Bank Of Canada boosted their price objective on Beacon Roofing Supply from $51.00 to $58.00 and gave the stock an outperform rating in a report on Monday, May 15th. SunTrust Banks, Inc. reissued a buy rating on shares of Beacon Roofing Supply in a report on Tuesday. Wedbush reissued a neutral rating and set a $47.00 price objective on shares of Beacon Roofing Supply in a report on Wednesday, May 31st. Finally, Citigroup Inc. boosted their price objective on Beacon Roofing Supply from $48.00 to $51.00 and gave the stock a neutral rating in a report on Monday, August 28th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and seven have given a buy rating to the company. The stock has an average rating of Buy and an average price target of $52.00.
Beacon Roofing Supply (BECN) opened at 48.77 on Tuesday. The company has a market capitalization of $2.94 billion, a P/E ratio of 28.96 and a beta of 1.30. The company’s 50 day moving average price is $44.67 and its 200-day moving average price is $47.65. Beacon Roofing Supply has a 12-month low of $39.50 and a 12-month high of $52.12.
Beacon Roofing Supply (NASDAQ:BECN) last issued its earnings results on Wednesday, August 2nd. The company reported $0.84 EPS for the quarter, missing analysts’ consensus estimates of $0.90 by ($0.06). Beacon Roofing Supply had a net margin of 2.42% and a return on equity of 9.55%. The firm had revenue of $1.21 billion during the quarter, compared to the consensus estimate of $1.27 billion. During the same period in the previous year, the firm earned $0.77 earnings per share. The business’s quarterly revenue was up 5.3% on a year-over-year basis. Equities analysts forecast that Beacon Roofing Supply will post $2.20 earnings per share for the current fiscal year.
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A number of institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. lifted its stake in Beacon Roofing Supply by 1.0% in the second quarter. Vanguard Group Inc. now owns 4,892,191 shares of the company’s stock valued at $239,718,000 after purchasing an additional 46,661 shares during the last quarter. Frontier Capital Management Co. LLC lifted its stake in Beacon Roofing Supply by 2.4% in the first quarter. Frontier Capital Management Co. LLC now owns 4,312,112 shares of the company’s stock valued at $211,983,000 after purchasing an additional 101,046 shares during the last quarter. BlackRock Inc. lifted its stake in Beacon Roofing Supply by 1.2% in the second quarter. BlackRock Inc. now owns 4,069,752 shares of the company’s stock valued at $199,416,000 after purchasing an additional 47,779 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in Beacon Roofing Supply by 4.9% in the first quarter. Dimensional Fund Advisors LP now owns 2,409,749 shares of the company’s stock valued at $118,462,000 after purchasing an additional 113,306 shares during the last quarter. Finally, Lord Abbett & CO. LLC lifted its stake in Beacon Roofing Supply by 10.4% in the second quarter. Lord Abbett & CO. LLC now owns 1,873,615 shares of the company’s stock valued at $91,807,000 after purchasing an additional 176,659 shares during the last quarter.
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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