Research Analysts’ Recent Ratings Changes for Beacon Roofing Supply (BECN)

Several analysts have recently updated their ratings and price targets for Beacon Roofing Supply (NASDAQ: BECN):

  • 5/9/2019 – Beacon Roofing Supply had its price target raised by analysts at Royal Bank of Canada to $40.00. They now have a “sector perform” rating on the stock.
  • 5/9/2019 – Beacon Roofing Supply was upgraded by analysts at ValuEngine from a “sell” rating to a “hold” rating.
  • 5/8/2019 – Beacon Roofing Supply had its “neutral” rating reaffirmed by analysts at Wedbush. They now have a $33.00 price target on the stock.
  • 5/8/2019 – Beacon Roofing Supply had its “hold” rating reaffirmed by analysts at Wells Fargo & Co.
  • 4/16/2019 – Beacon Roofing Supply was upgraded by analysts at BidaskClub from a “hold” rating to a “buy” rating.
  • 4/10/2019 – Beacon Roofing Supply was upgraded by analysts at ValuEngine from a “strong sell” rating to a “sell” rating.
  • 4/5/2019 – Beacon Roofing Supply was upgraded by analysts at BidaskClub from a “sell” rating to a “hold” rating.
  • 3/27/2019 – Beacon Roofing Supply was downgraded by analysts at Zacks Investment Research from a “buy” rating to a “hold” rating. According to Zacks, “Higher contribution from the Allied Building Products acquisition and successful price increases associated with a solid demand environment are expected to support Beacon Roofing's growth. Meanwhile, its focus on productivity enhancement is also likely to aid its performance going forward. However, rising raw material prices of asphalt, steel and gypsum, inbound flatbed rates, as well as outbound costs, including diesel and other delivery expenses, are pressing concerns. Also, the company's expects its fiscal second bottom line to be impacted by unfavorable weather conditions, which is a pressing concern. Shares of Beacon Roofing have underperformed its industry in the past three months and earnings estimates for fiscal 2019 and 2020 have been trending downward over the past seven days.”
  • 3/26/2019 – Beacon Roofing Supply had its price target lowered by analysts at Robert W. Baird from $36.00 to $35.00. They now have a “neutral” rating on the stock.
  • 3/26/2019 – Beacon Roofing Supply had its price target lowered by analysts at Buckingham Research from $38.00 to $31.00. They now have a “neutral” rating on the stock.
  • 3/26/2019 – Beacon Roofing Supply was given a new $35.00 price target on by analysts at Royal Bank of Canada. They now have a “hold” rating on the stock.
  • 3/26/2019 – Beacon Roofing Supply was given a new $45.00 price target on by analysts at Raymond James. They now have a “buy” rating on the stock.

Shares of NASDAQ:BECN traded up $0.50 during midday trading on Thursday, reaching $38.65. The company had a trading volume of 23,241 shares, compared to its average volume of 780,557. The company has a debt-to-equity ratio of 1.62, a quick ratio of 1.22 and a current ratio of 2.27. The company has a market cap of $2.62 billion, a P/E ratio of 14.31, a P/E/G ratio of 0.83 and a beta of 1.47. Beacon Roofing Supply, Inc. has a 1-year low of $24.97 and a 1-year high of $46.26.

Beacon Roofing Supply (NASDAQ:BECN) last released its earnings results on Tuesday, May 7th. The company reported ($0.45) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.51) by $0.06. The business had revenue of $1.43 billion for the quarter, compared to the consensus estimate of $1.38 billion. Beacon Roofing Supply had a return on equity of 10.76% and a net margin of 0.41%. Beacon Roofing Supply’s quarterly revenue was up .2% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.35) earnings per share. As a group, equities analysts predict that Beacon Roofing Supply, Inc. will post 2.94 earnings per share for the current fiscal year.

In related news, major shareholder Cd&R Investment Associates Ix, bought 5,609,763 shares of the stock in a transaction that occurred on Thursday, March 14th. The shares were acquired at an average price of $33.31 per share, with a total value of $186,861,205.53. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.20% of the stock is currently owned by insiders.

Hedge funds and other institutional investors have recently made changes to their positions in the business. Investors Research Corp acquired a new position in Beacon Roofing Supply during the first quarter worth approximately $29,000. First Personal Financial Services bought a new stake in shares of Beacon Roofing Supply during the fourth quarter worth approximately $33,000. Quantamental Technologies LLC bought a new stake in shares of Beacon Roofing Supply during the first quarter worth approximately $63,000. IFP Advisors Inc boosted its holdings in shares of Beacon Roofing Supply by 107.6% during the fourth quarter. IFP Advisors Inc now owns 2,076 shares of the company’s stock worth $65,000 after acquiring an additional 1,076 shares during the period. Finally, Lloyds Banking Group plc boosted its holdings in shares of Beacon Roofing Supply by 81.6% during the fourth quarter. Lloyds Banking Group plc now owns 2,534 shares of the company’s stock worth $80,000 after acquiring an additional 1,139 shares during the period.

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 solar systems.

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