Beacon Roofing Supply, Inc. (BECN) Reaches New 52-Week High at $53.73

Beacon Roofing Supply, Inc. (NASDAQ:BECN) reached a new 52-week high during mid-day trading on Tuesday . The company traded as high as $53.73 and last traded at $53.79, with a volume of 349,840 shares trading hands. The stock had previously closed at $52.73.

A number of equities research analysts recently issued reports on the stock. Royal Bank Of Canada reissued a “buy” rating and issued a $58.00 price target on shares of Beacon Roofing Supply in a research note on Monday, July 24th. KeyCorp reissued a “buy” rating and issued a $56.00 price target on shares of Beacon Roofing Supply in a research note on Sunday. BidaskClub cut shares of Beacon Roofing Supply from a “sell” rating to a “strong sell” rating in a research note on Wednesday, August 2nd. Zacks Investment Research raised shares of Beacon Roofing Supply from a “sell” rating to a “hold” rating in a research note on Tuesday, July 18th. Finally, Robert W. Baird reissued a “buy” rating and issued a $55.00 price target on shares of Beacon Roofing Supply in a research note on Thursday, October 12th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and seven have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average target price of $52.73.

The stock has a 50 day moving average of $49.89 and a 200 day moving average of $48.19. The firm has a market cap of $3.24 billion, a P/E ratio of 31.8666 and a beta of 1.32.

Beacon Roofing Supply (NASDAQ:BECN) last posted its earnings results on Wednesday, August 2nd. The company reported $0.84 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.90 by ($0.06). The firm had revenue of $1.21 billion during the quarter, compared to analyst estimates of $1.27 billion. Beacon Roofing Supply had a net margin of 2.42% and a return on equity of 9.55%. The firm’s revenue for the quarter was up 5.3% on a year-over-year basis. During the same period last year, the company posted $0.77 EPS. Equities analysts forecast that Beacon Roofing Supply, Inc. will post $2.19 earnings per share for the current year.

Institutional investors have recently bought and sold shares of the business. SG Americas Securities LLC acquired a new stake in Beacon Roofing Supply in the second quarter valued at $100,000. Advisors Asset Management Inc. grew its holdings in Beacon Roofing Supply by 36.7% in the second quarter. Advisors Asset Management Inc. now owns 2,105 shares of the company’s stock valued at $103,000 after purchasing an additional 565 shares during the last quarter. Huntington National Bank grew its holdings in Beacon Roofing Supply by 3.8% in the second quarter. Huntington National Bank now owns 3,138 shares of the company’s stock valued at $154,000 after purchasing an additional 116 shares during the last quarter. Lloyds Banking Group plc grew its holdings in Beacon Roofing Supply by 37.7% in the second quarter. Lloyds Banking Group plc now owns 3,694 shares of the company’s stock valued at $180,000 after purchasing an additional 1,012 shares during the last quarter. Finally, Advisor Group Inc. grew its holdings in Beacon Roofing Supply by 8.9% in the second quarter. Advisor Group Inc. now owns 3,877 shares of the company’s stock valued at $190,000 after purchasing an additional 316 shares during the last quarter. 90.92% of the stock is currently owned by institutional investors.

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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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