Beacon Roofing Supply (NASDAQ:BECN) had its price objective dropped by analysts at SunTrust Banks to $38.00 in a report issued on Tuesday, The Fly reports. The brokerage currently has a “buy” rating on the stock. SunTrust Banks’ target price points to a potential upside of 33.47% from the company’s previous close.

Other analysts have also issued research reports about the stock. Robert W. Baird reissued a “hold” rating and issued a $29.00 price target on shares of Beacon Roofing Supply in a research report on Tuesday. Raymond James lowered shares of Beacon Roofing Supply from a “strong-buy” rating to an “outperform” rating in a research report on Tuesday. Wedbush set a $30.00 price target on shares of Beacon Roofing Supply and gave the company an “outperform” rating in a research report on Tuesday. They noted that the move was a valuation call. Seaport Global Securities set a $52.00 price target on shares of Beacon Roofing Supply and gave the company a “buy” rating in a research report on Sunday, August 12th. Finally, BidaskClub lowered shares of Beacon Roofing Supply from a “hold” rating to a “sell” rating in a research report on Wednesday, October 3rd. Four research analysts have rated the stock with a sell rating, seven have given a hold rating and eight have assigned a buy rating to the company’s stock. Beacon Roofing Supply has a consensus rating of “Hold” and a consensus price target of $44.53.

Shares of NASDAQ BECN traded up $0.70 during midday trading on Tuesday, hitting $28.47. The company’s stock had a trading volume of 170,980 shares, compared to its average volume of 1,311,552. Beacon Roofing Supply has a one year low of $24.97 and a one year 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. The firm has a market cap of $1.88 billion, a P/E ratio of 13.08, a price-to-earnings-growth ratio of 0.38 and a beta of 1.44.

Beacon Roofing Supply (NASDAQ:BECN) last posted its quarterly earnings results on Monday, November 19th. The company reported $1.07 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.36 by ($0.29). Beacon Roofing Supply had a net margin of 1.65% and a return on equity of 9.94%. The business had revenue of $1.94 billion during the quarter, compared to the consensus estimate of $2.01 billion. During the same period last year, the firm earned $0.93 EPS. The business’s revenue for the quarter was up 50.4% on a year-over-year basis. Equities analysts expect that Beacon Roofing Supply will post 3.01 EPS for the current year.

A number of institutional investors have recently bought and sold shares of the stock. Standard Life Aberdeen plc increased its holdings in Beacon Roofing Supply by 22.1% during the 3rd quarter. Standard Life Aberdeen plc now owns 1,775,647 shares of the company’s stock worth $64,261,000 after acquiring an additional 321,944 shares during the period. Teachers Advisors LLC increased its holdings in Beacon Roofing Supply by 1.4% during the 3rd quarter. Teachers Advisors LLC now owns 145,412 shares of the company’s stock worth $5,262,000 after acquiring an additional 2,048 shares during the period. Macquarie Group Ltd. increased its holdings in Beacon Roofing Supply by 168.3% during the 3rd quarter. Macquarie Group Ltd. now owns 47,494 shares of the company’s stock worth $1,719,000 after acquiring an additional 29,790 shares during the period. DF Dent & Co. Inc. increased its holdings in Beacon Roofing Supply by 23.1% during the 3rd quarter. DF Dent & Co. Inc. now owns 58,737 shares of the company’s stock worth $2,126,000 after acquiring an additional 11,032 shares during the period. Finally, MetLife Investment Advisors LLC increased its holdings in Beacon Roofing Supply by 52.8% during the 3rd quarter. MetLife Investment Advisors LLC now owns 47,460 shares of the company’s stock worth $1,718,000 after acquiring an additional 16,403 shares during the period.

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.

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Analyst Recommendations for Beacon Roofing Supply (NASDAQ:BECN)

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