Beacon Roofing Supply (NASDAQ:BECN) was upgraded by equities researchers at BidaskClub from a “strong sell” rating to a “sell” rating in a report issued on Saturday.
Several other research firms have also recently weighed in on BECN. Jefferies Group reissued a “buy” rating and issued a $73.00 price target on shares of Beacon Roofing Supply in a research note on Wednesday, January 17th. Zacks Investment Research lowered shares of Beacon Roofing Supply from a “strong-buy” rating to a “hold” rating in a report on Monday, January 22nd. Royal Bank of Canada set a $66.00 price objective on shares of Beacon Roofing Supply and gave the stock a “buy” rating in a report on Friday, February 9th. Citigroup decreased their price objective on shares of Beacon Roofing Supply from $65.00 to $60.00 and set a “neutral” rating on the stock in a report on Friday, February 9th. Finally, Wedbush restated an “outperform” rating and issued a $52.00 price objective (down from $70.00) on shares of Beacon Roofing Supply in a report on Tuesday, February 13th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and eight have assigned a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus price target of $60.45.
Shares of BECN stock opened at $52.09 on Friday. Beacon Roofing Supply has a one year low of $39.57 and a one year high of $66.47. The company has a quick ratio of 3.58, a current ratio of 4.60 and a debt-to-equity ratio of 1.09. The firm has a market cap of $3,542.69, a P/E ratio of 22.85, a PEG ratio of 0.45 and a beta of 1.42.
Hedge funds have recently modified their holdings of the company. Zions Bancorporation acquired a new stake in Beacon Roofing Supply during the 3rd quarter worth approximately $124,000. Cerebellum GP LLC acquired a new stake in Beacon Roofing Supply during the 4th quarter worth approximately $130,000. Macquarie Group Ltd. acquired a new stake in Beacon Roofing Supply during the 4th quarter worth approximately $147,000. CAPROCK Group Inc. acquired a new stake in Beacon Roofing Supply during the 4th quarter worth approximately $212,000. Finally, Cambridge Investment Research Advisors Inc. acquired a new stake in Beacon Roofing Supply during the 3rd quarter worth approximately $214,000.
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Beacon Roofing Supply Company Profile
Beacon Roofing Supply, Inc, together with its subsidiaries, distributes residential and commercial roofing materials, and other complementary building materials to contractors, home builders, retailers, and building materials suppliers. The company's residential roofing products include asphalt shingles, synthetic slates and tiles, clay and concrete tiles, slates, nail base insulations, metal roofing, felts, synthetic underlayment, wood shingles and shakes, nails and fasteners, metal edgings and flashings, prefabricated flashings, ridges and soffit vents, and other accessories.
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