Beacon Roofing Supply (NASDAQ:BECN) was upgraded by equities research analysts at BidaskClub from a “strong sell” rating to a “sell” rating in a research note issued to investors on Thursday.

BECN has been the subject of several other reports. Raymond James set a $45.00 target price on Beacon Roofing Supply and gave the stock a “buy” rating in a research note on Thursday, October 25th. Wedbush reiterated an “outperform” rating and set a $50.00 target price on shares of Beacon Roofing Supply in a research note on Thursday, August 23rd. JPMorgan Chase & Co. reduced their target price 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. Longbow Research reiterated a “buy” rating on shares of Beacon Roofing Supply in a research note on Monday, September 24th. Finally, William Blair downgraded Beacon Roofing Supply from an “outperform” rating to a “market perform” rating and set a $33.00 target price for the company. in a research note on Monday, October 8th. Three analysts have rated the stock with a sell rating, eight have assigned a hold rating and eight have given a buy rating to the company. Beacon Roofing Supply has an average rating of “Hold” and a consensus target price of $42.27.

NASDAQ:BECN opened at $32.81 on Thursday. The company has a market cap of $1.89 billion, a price-to-earnings ratio of 12.15, a P/E/G ratio of 0.38 and a beta of 1.44. Beacon Roofing Supply has a twelve month low of $24.97 and a twelve month high of $66.47. The company has a current ratio of 2.07, a quick ratio of 1.14 and a debt-to-equity ratio of 1.63.

Beacon Roofing Supply (NASDAQ:BECN) last issued its earnings results on Monday, November 19th. The company reported $1.07 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.36 by ($0.29). Beacon Roofing Supply had a return on equity of 11.32% and a net margin of 1.54%. The business had revenue of $1.94 billion for the quarter, compared to the consensus estimate of $2.01 billion. During the same quarter in the prior year, the firm posted $0.93 earnings per share. The business’s revenue was up 50.4% compared to the same quarter last year. Research analysts forecast that Beacon Roofing Supply will post 3.84 EPS for the current fiscal year.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. BlackRock Inc. boosted its stake in Beacon Roofing Supply by 1.3% in the 2nd quarter. BlackRock Inc. now owns 5,024,154 shares of the company’s stock valued at $214,131,000 after purchasing an additional 65,371 shares during the period. Frontier Capital Management Co. LLC boosted its stake in Beacon Roofing Supply by 15.5% in the 3rd quarter. Frontier Capital Management Co. LLC now owns 3,748,239 shares of the company’s stock valued at $135,649,000 after purchasing an additional 502,149 shares during the period. Dimensional Fund Advisors LP boosted its stake in Beacon Roofing Supply by 11.5% in the 3rd quarter. Dimensional Fund Advisors LP now owns 3,058,449 shares of the company’s stock valued at $110,687,000 after purchasing an additional 315,299 shares during the period. Jennison Associates LLC boosted its stake in Beacon Roofing Supply by 28.2% in the 3rd quarter. Jennison Associates LLC now owns 2,862,115 shares of the company’s stock valued at $103,580,000 after purchasing an additional 629,593 shares during the period. Finally, Fuller & Thaler Asset Management Inc. bought a new stake in Beacon Roofing Supply in the 3rd quarter valued at $76,748,000.

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.

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Analyst Recommendations for Beacon Roofing Supply (NASDAQ:BECN)

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