Beacon Roofing Supply (BECN) Downgraded by Raymond James to Outperform
Beacon Roofing Supply (NASDAQ:BECN) was downgraded by Raymond James from a “strong-buy” rating to an “outperform” rating in a report released on Tuesday, The Fly reports.
A number of other brokerages have also recently issued reports on BECN. Wells Fargo & Co cut Beacon Roofing Supply from a “market perform” rating to an “underperform” rating and set a $58.00 price objective for the company. in a research note on Wednesday, August 8th. Wedbush lowered their price objective on Beacon Roofing Supply from $65.00 to $50.00 and set an “outperform” rating for the company in a research note on Wednesday, August 8th. Citigroup cut Beacon Roofing Supply from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $51.00 to $44.00 in a research note on Wednesday, August 8th. SunTrust Banks reiterated a “buy” rating and set a $52.00 price objective on shares of Beacon Roofing Supply in a research note on Wednesday, August 8th. Finally, JPMorgan Chase & Co. lowered their price objective on Beacon Roofing Supply from $53.00 to $49.00 and set a “neutral” rating for the company in a research note on Friday, August 10th. Four analysts have rated the stock with a sell rating, seven have issued a hold rating and eight have issued a buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $46.80.
Shares of NASDAQ:BECN opened at $27.77 on Tuesday. The firm has a market cap of $1.88 billion, a price-to-earnings ratio of 12.74, a P/E/G ratio of 0.38 and a beta of 1.44. Beacon Roofing Supply has a 12-month low of $24.97 and a 12-month high of $66.47. The company has a debt-to-equity ratio of 1.63, a current ratio of 2.07 and a quick ratio of 1.14.
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.
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