BidaskClub lowered shares of Beacon Roofing Supply (NASDAQ:BECN) from a buy rating to a hold rating in a research report report published on Tuesday.

A number of other research firms have also weighed in on BECN. Wedbush reissued a neutral rating and issued a $46.00 target price (down from $52.00) on shares of Beacon Roofing Supply in a report on Friday, November 17th. SunTrust Banks restated a buy rating on shares of Beacon Roofing Supply in a research report on Tuesday, September 12th. Robert W. Baird restated a buy rating and issued a $55.00 price target on shares of Beacon Roofing Supply in a research report on Thursday, October 12th. Zacks Investment Research upgraded Beacon Roofing Supply from a hold rating to a strong-buy rating and set a $68.00 price target for the company in a research report on Thursday, November 23rd. Finally, KeyCorp restated a buy rating and issued a $56.00 price target on shares of Beacon Roofing Supply in a research report on Sunday, October 15th. Five investment analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. The stock currently has a consensus rating of Buy and an average price target of $56.91.

Beacon Roofing Supply (NASDAQ:BECN) traded down $0.80 during mid-day trading on Tuesday, hitting $62.96. 973,579 shares of the company were exchanged, compared to its average volume of 665,200. Beacon Roofing Supply has a 1 year low of $39.57 and a 1 year high of $66.47. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.35 and a current ratio of 2.06. The stock has a market capitalization of $4,260.00, a price-to-earnings ratio of 38.39, a PEG ratio of 0.82 and a beta of 1.49.

Beacon Roofing Supply (NASDAQ:BECN) last posted its earnings results on Monday, November 20th. The company reported $0.93 earnings per share for the quarter, missing analysts’ consensus estimates of $0.94 by ($0.01). Beacon Roofing Supply had a net margin of 2.30% and a return on equity of 9.09%. The business had revenue of $1.29 billion during the quarter, compared to analysts’ expectations of $1.26 billion. During the same period last year, the business posted $0.88 earnings per share. The company’s revenue for the quarter was up 9.8% compared to the same quarter last year. research analysts anticipate that Beacon Roofing Supply will post 3.16 EPS for the current fiscal year.

In other news, CEO Paul Isabella sold 40,000 shares of Beacon Roofing Supply stock in a transaction on Monday, November 27th. The stock was sold at an average price of $60.57, for a total transaction of $2,422,800.00. Following the completion of the sale, the chief executive officer now directly owns 172,046 shares in the company, valued at $10,420,826.22. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Ross D. Cooper sold 2,000 shares of Beacon Roofing Supply stock in a transaction on Tuesday, November 21st. The stock was sold at an average price of $59.75, for a total value of $119,500.00. Following the sale, the executive vice president now owns 7,056 shares of the company’s stock, valued at $421,596. The disclosure for this sale can be found here. 0.75% of the stock is owned by company insiders.

Hedge funds have recently added to or reduced their stakes in the stock. BlackRock Inc. raised its holdings in shares of 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 acquiring an additional 47,779 shares in the last quarter. Lord Abbett & CO. LLC raised its holdings in shares of 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 acquiring an additional 176,659 shares in the last quarter. Dynamic Technology Lab Private Ltd bought a new stake in shares of Beacon Roofing Supply in the second quarter valued at about $312,000. Swiss National Bank raised its holdings in shares of Beacon Roofing Supply by 19.8% in the second quarter. Swiss National Bank now owns 100,000 shares of the company’s stock valued at $4,900,000 after acquiring an additional 16,500 shares in the last quarter. Finally, Schwab Charles Investment Management Inc. raised its holdings in shares of Beacon Roofing Supply by 9.6% in the third quarter. Schwab Charles Investment Management Inc. now owns 402,011 shares of the company’s stock valued at $20,604,000 after acquiring an additional 35,141 shares in the last quarter.

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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.

Analyst Recommendations for Beacon Roofing Supply (NASDAQ:BECN)

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