Beacon Roofing Supply (BECN) Given a $28.00 Price Target at Royal Bank of Canada
Royal Bank of Canada set a $28.00 price objective on Beacon Roofing Supply (NASDAQ:BECN) in a research note issued to investors on Tuesday morning. The brokerage currently has a hold rating on the stock.
Several other research analysts have also weighed in on the stock. JPMorgan Chase & Co. dropped their price objective on shares of Beacon Roofing Supply from $53.00 to $49.00 and set a neutral rating on the stock in a research note on Friday, August 10th. Robert W. Baird reiterated a hold rating and issued a $29.00 price objective on shares of Beacon Roofing Supply in a research note on Tuesday. Raymond James set a $45.00 price objective on shares of Beacon Roofing Supply and gave the company a buy rating in a research note on Thursday, October 25th. Jefferies Financial Group reiterated a hold rating and issued a $40.00 price objective on shares of Beacon Roofing Supply in a research note on Friday, August 10th. Finally, SunTrust Banks dropped their price objective on shares of Beacon Roofing Supply to $38.00 and set a buy rating on the stock in a research note on Tuesday. Four investment analysts have rated the stock with a sell rating, seven have given a hold rating and eight have assigned a buy rating to the stock. Beacon Roofing Supply currently has an average rating of Hold and an average target price of $42.47.
BECN stock opened at $28.06 on Tuesday. Beacon Roofing Supply has a 12 month low of $24.97 and a 12 month high of $66.47. The company has a market cap of $1.89 billion, a P/E ratio of 10.39, a price-to-earnings-growth ratio of 0.38 and a beta of 1.44. The company has a quick ratio of 1.14, a current ratio of 2.07 and a debt-to-equity ratio of 1.63.
Several institutional investors and hedge funds have recently made changes to their positions in the company. Advisors Asset Management Inc. grew its stake in Beacon Roofing Supply by 1,809.4% in the 2nd quarter. Advisors Asset Management Inc. now owns 61,196 shares of the company’s stock valued at $119,000 after buying an additional 57,991 shares during the last quarter. Cim Investment Mangement Inc. acquired a new position in Beacon Roofing Supply in the 3rd quarter valued at $205,000. Jane Street Group LLC acquired a new position in Beacon Roofing Supply in the 2nd quarter valued at $226,000. Eqis Capital Management Inc. acquired a new position in Beacon Roofing Supply in the 2nd quarter valued at $261,000. Finally, CIBC World Markets Inc. acquired a new position in Beacon Roofing Supply in the 2nd quarter valued at $277,000.
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.
Recommended Story: Why do corrections happen?
Receive News & Ratings for Beacon Roofing Supply Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Beacon Roofing Supply and related companies with MarketBeat.com's FREE daily email newsletter.