Shares of Beacon Roofing Supply Inc. (NASDAQ:BECN) hit a new 52-week high during mid-day trading on Thursday . The company traded as high as $47.59 and last traded at $46.86, with a volume of 539,873 shares changing hands. The stock had previously closed at $46.62.

A number of analysts have recently issued reports on the company. Robert W. Baird reiterated an “outperform” rating and set a $55.00 price target on shares of Beacon Roofing Supply in a research report on Wednesday. Jefferies Group initiated coverage on Beacon Roofing Supply in a research report on Wednesday. They issued a “hold” rating and a $46.00 target price for the company. BB&T Corp. upgraded Beacon Roofing Supply from a “hold” rating to a “buy” rating and set a $51.00 target price for the company in a research report on Friday, June 10th. Royal Bank Of Canada upgraded Beacon Roofing Supply from a “sector perform” rating to an “outperform” rating and boosted their target price for the stock from $41.00 to $50.00 in a research report on Monday, April 11th. Finally, Zacks Investment Research upgraded Beacon Roofing Supply from a “hold” rating to a “buy” rating and set a $48.00 target price for the company in a research report on Tuesday, June 28th. Three research analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the stock. Beacon Roofing Supply currently has an average rating of “Buy” and a consensus price target of $46.94.

The firm has a market cap of $2.84 billion and a PE ratio of 43.59. The stock’s 50-day moving average is $43.78 and its 200-day moving average is $40.88.

Beacon Roofing Supply (NASDAQ:BECN) last posted its quarterly earnings results on Monday, May 2nd. The company reported $0.03 EPS for the quarter, topping the Zacks’ consensus estimate of ($0.22) by $0.25. The business earned $823.50 million during the quarter, compared to analysts’ expectations of $673.38 million. The firm’s revenue for the quarter was up 99.3% on a year-over-year basis. During the same period in the prior year, the firm posted ($0.20) earnings per share. Equities analysts anticipate that Beacon Roofing Supply Inc. will post $2.11 EPS for the current fiscal year.

In related news, Chairman Robert R. Buck sold 17,556 shares of the business’s stock in a transaction that occurred on Thursday, June 23rd. The stock was sold at an average price of $45.37, for a total value of $796,515.72. Following the transaction, the chairman now directly owns 31,545 shares of the company’s stock, valued at approximately $1,431,196.65. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, major shareholder Associates Viii Ltd. Cd&R sold 8,536,500 shares of the business’s stock in a transaction that occurred on Friday, May 20th. The stock was sold at an average price of $42.28, for a total value of $360,923,220.00. The disclosure for this sale can be found here.

A number of hedge funds and institutional investors have bought and sold shares of BECN. Public Employees Retirement Association of Colorado boosted its position in Beacon Roofing Supply by 73.7% in the fourth quarter. Public Employees Retirement Association of Colorado now owns 130,100 shares of the company’s stock worth $5,358,000 after buying an additional 55,200 shares in the last quarter. Engineers Gate Manager LP acquired a new position in Beacon Roofing Supply during the fourth quarter worth approximately $3,185,000. EAM Investors LLC boosted its position in Beacon Roofing Supply by 3.3% in the fourth quarter. EAM Investors LLC now owns 81,975 shares of the company’s stock worth $3,376,000 after buying an additional 2,592 shares in the last quarter. Rhumbline Advisers boosted its position in Beacon Roofing Supply by 3.6% in the fourth quarter. Rhumbline Advisers now owns 71,099 shares of the company’s stock worth $2,928,000 after buying an additional 2,465 shares in the last quarter. Finally, California Public Employees Retirement System boosted its position in Beacon Roofing Supply by 8.9% in the fourth quarter. California Public Employees Retirement System now owns 131,400 shares of the company’s stock worth $5,411,000 after buying an additional 10,700 shares in the last quarter.

Beacon Roofing Supply, Inc is a distributor of residential and non-residential roofing materials in the United States. The Company operates in the wholesale distribution of building materials segment. The Company distributes other complementary building materials, such as waterproofing systems for residential and non-residential building exteriors.

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