BidaskClub cut shares of Beacon Roofing Supply (NASDAQ:BECN) from a sell rating to a strong sell rating in a report issued on Saturday.

BECN has been the subject of a number of other research reports. Zacks Investment Research cut Beacon Roofing Supply from a strong-buy rating to a hold rating in a report on Tuesday, April 10th. Jefferies Group restated a buy rating and set a $73.00 price objective on shares of Beacon Roofing Supply in a report on Wednesday, January 17th. Royal Bank of Canada set a $66.00 price objective on Beacon Roofing Supply and gave the stock a buy rating in a report on Friday, February 9th. Citigroup reduced their price objective on Beacon Roofing Supply from $65.00 to $60.00 and set a neutral rating for the company in a report on Friday, February 9th. Finally, Wedbush upgraded Beacon Roofing Supply from a neutral rating to an outperform rating and boosted their price objective for the stock from $52.00 to $70.00 in a report on Tuesday, February 13th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and seven have assigned a buy rating to the company’s stock. Beacon Roofing Supply currently has a consensus rating of Buy and a consensus price target of $62.00.

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Beacon Roofing Supply stock opened at $52.05 on Friday. Beacon Roofing Supply has a 52 week low of $39.57 and a 52 week high of $66.47. The company has a debt-to-equity ratio of 1.09, a current ratio of 4.60 and a quick ratio of 3.58. The stock has a market cap of $3,459.73, a P/E ratio of 23.88, a price-to-earnings-growth ratio of 0.44 and a beta of 1.38.

Beacon Roofing Supply (NASDAQ:BECN) last posted its quarterly earnings results on Thursday, February 8th. The company reported $0.68 EPS for the quarter, topping analysts’ consensus estimates of $0.54 by $0.14. Beacon Roofing Supply had a return on equity of 9.60% and a net margin of 3.29%. The business had revenue of $1.12 billion during the quarter, compared to analysts’ expectations of $1.10 billion. During the same quarter last year, the company posted $0.56 earnings per share. Beacon Roofing Supply’s quarterly revenue was up 12.0% on a year-over-year basis. sell-side analysts predict that Beacon Roofing Supply will post 3.56 EPS for the current year.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Cerebellum GP LLC acquired a new stake in shares of Beacon Roofing Supply in the fourth quarter valued at approximately $130,000. Macquarie Group Ltd. acquired a new stake in shares of Beacon Roofing Supply in the fourth quarter valued at approximately $147,000. CAPROCK Group Inc. acquired a new stake in shares of Beacon Roofing Supply in the fourth quarter valued at approximately $212,000. Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of Beacon Roofing Supply by 95.5% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,861 shares of the company’s stock valued at $246,000 after buying an additional 1,886 shares in the last quarter. Finally, Zeke Capital Advisors LLC acquired a new stake in shares of Beacon Roofing Supply in the fourth quarter valued at approximately $247,000.

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About Beacon Roofing Supply

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.

Analyst Recommendations for Beacon Roofing Supply (NASDAQ:BECN)

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