Beacon Roofing Supply, Inc. (NASDAQ:BECN) has been assigned a consensus rating of “Hold” from the eighteen analysts that are currently covering the stock, Marketbeat reports. Four equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and eight have assigned a buy rating to the company. The average 12-month target price among analysts that have updated their coverage on the stock in the last year is $52.62.

A number of equities research analysts recently weighed in on the stock. ValuEngine raised shares of Beacon Roofing Supply from a “strong sell” rating to a “sell” rating in a report on Thursday, June 21st. BidaskClub raised shares of Beacon Roofing Supply from a “sell” rating to a “hold” rating in a report on Friday, June 22nd. Citigroup raised shares of Beacon Roofing Supply from a “neutral” rating to a “buy” rating and set a $60.00 price target for the company in a report on Tuesday, June 19th. Royal Bank of Canada lowered shares of Beacon Roofing Supply from an “outperform” rating to a “sector perform” rating in a report on Wednesday, June 27th. Finally, Evercore ISI assumed coverage on shares of Beacon Roofing Supply in a report on Thursday, June 28th. They set an “outperform” rating and a $61.00 price target for the company.

In related news, major shareholder Cd&R Investment Associates Ix, acquired 314,400 shares of Beacon Roofing Supply stock in a transaction on Thursday, August 9th. The shares were purchased at an average cost of $38.77 per share, for a total transaction of $12,189,288.00. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Philip Knisely acquired 6,000 shares of Beacon Roofing Supply stock in a transaction on Thursday, August 16th. The shares were bought at an average price of $37.14 per share, for a total transaction of $222,840.00. Following the completion of the purchase, the director now directly owns 6,000 shares in the company, valued at $222,840. The disclosure for this purchase can be found here. Corporate insiders own 0.77% of the company’s stock.

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. We Are One Seven LLC lifted its position in shares of Beacon Roofing Supply by 194.6% in the 1st quarter. We Are One Seven LLC now owns 1,918 shares of the company’s stock worth $102,000 after buying an additional 1,267 shares during the last quarter. Suntrust Banks Inc. bought a new position in shares of Beacon Roofing Supply in the 1st quarter worth about $211,000. SG Americas Securities LLC bought a new position in shares of Beacon Roofing Supply in the 1st quarter worth about $244,000. Jane Street Group LLC bought a new position in shares of Beacon Roofing Supply in the 2nd quarter worth about $226,000. Finally, Eqis Capital Management Inc. bought a new position in shares of Beacon Roofing Supply in the 2nd quarter worth about $261,000.

BECN opened at $39.45 on Friday. The firm has a market cap of $2.68 billion, a P/E ratio of 18.10, a PEG ratio of 0.68 and a beta of 1.15. Beacon Roofing Supply has a twelve month low of $35.04 and a twelve month high of $66.47. The company has a quick ratio of 1.14, a current ratio of 2.07 and a debt-to-equity ratio of 1.63.

Beacon Roofing Supply (NASDAQ:BECN) last released its quarterly earnings results on Tuesday, August 7th. The company reported $1.18 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.32 by ($0.14). The firm had revenue of $1.93 billion for the quarter, compared to analyst estimates of $2.07 billion. Beacon Roofing Supply had a net margin of 1.65% and a return on equity of 9.94%. During the same period in the previous year, the business posted $0.84 earnings per share. equities analysts forecast that Beacon Roofing Supply will post 3.03 earnings per share for the current year.

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.

Further Reading: Fundamental Analysis

Analyst Recommendations for Beacon Roofing Supply (NASDAQ:BECN)

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