Beacon Roofing Supply Inc. (NASDAQ:BECN) shares traded down 3.2% during trading on Thursday . The company traded as low as $44.93 and last traded at $45.00, with a volume of 446,850 shares. The stock had previously closed at $46.48.

A number of research analysts have commented on the company. Zacks Investment Research raised Beacon Roofing Supply from a “hold” rating to a “buy” rating and set a $48.00 target price on the stock in a report on Wednesday, May 11th. Royal Bank Of Canada raised Beacon Roofing Supply from a “sector perform” rating to an “outperform” rating and increased their target price for the stock from $41.00 to $50.00 in a report on Monday, April 11th. BB&T Corp. raised Beacon Roofing Supply from a “hold” rating to a “buy” rating and set a $51.00 target price on the stock in a report on Friday, June 10th. Jefferies Group assumed coverage on Beacon Roofing Supply in a report on Wednesday, July 6th. They set a “hold” rating and a $46.00 target price on the stock. Finally, Robert W. Baird reaffirmed an “outperform” rating and set a $55.00 target price on shares of Beacon Roofing Supply in a report on Wednesday, July 6th. Three research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus target price of $48.25.

The firm has a market cap of $2.67 billion and a PE ratio of 35.30. The company’s 50 day moving average is $46.33 and its 200-day moving average is $41.89.

Beacon Roofing Supply (NASDAQ:BECN) last posted its quarterly earnings data on Tuesday, August 2nd. The company reported $0.77 EPS for the quarter, topping analysts’ consensus estimates of $0.75 by $0.02. During the same quarter in the previous year, the firm posted $0.56 earnings per share. The business earned $1.15 billion during the quarter, compared to the consensus estimate of $1.15 billion. The company’s revenue for the quarter was up 60.5% on a year-over-year basis. On average, equities analysts anticipate that Beacon Roofing Supply Inc. will post $2.13 earnings per share for the current year.

In related news, major shareholder Associates Viii Ltd. Cd&R sold 8,536,500 shares of Beacon Roofing Supply stock in a transaction dated Friday, May 20th. The stock was sold at an average price of $42.28, for a total transaction of $360,923,220.00. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Ross D. Cooper sold 8,403 shares of Beacon Roofing Supply stock in a transaction dated Thursday, July 7th. The stock was sold at an average price of $47.50, for a total value of $399,142.50. Following the sale, the executive vice president now directly owns 5,255 shares in the company, valued at $249,612.50. The disclosure for this sale can be found here.

A number of large investors have recently added to or reduced their stakes in the company. Airain ltd purchased a new stake in Beacon Roofing Supply during the fourth quarter worth $1,498,000. Dimensional Fund Advisors LP increased its stake in Beacon Roofing Supply by 8.0% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,576,809 shares of the company’s stock worth $106,114,000 after buying an additional 190,890 shares during the period. Jennison Associates LLC increased its stake in Beacon Roofing Supply by 23.3% in the fourth quarter. Jennison Associates LLC now owns 825,717 shares of the company’s stock worth $34,003,000 after buying an additional 156,244 shares during the period. Morgan Stanley increased its stake in Beacon Roofing Supply by 1,069.4% in the fourth quarter. Morgan Stanley now owns 262,301 shares of the company’s stock worth $10,801,000 after buying an additional 239,871 shares during the period. Finally, OppenheimerFunds Inc. purchased a new stake in Beacon Roofing Supply during the fourth quarter worth $13,598,000.

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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