Beacon Roofing Supply (NASDAQ:BECN) PT Raised to $46.00

Beacon Roofing Supply (NASDAQ:BECN) had its target price lifted by equities research analysts at Loop Capital from $42.00 to $46.00 in a research note issued to investors on Friday, The Fly reports. The firm currently has a “buy” rating on the stock. Loop Capital’s target price would suggest a potential upside of 24.36% from the stock’s previous close.

BECN has been the topic of a number of other reports. Robert W. Baird upgraded shares of Beacon Roofing Supply from a “neutral” rating to an “outperform” rating and upped their target price for the stock from $36.00 to $43.00 in a research note on Monday, October 12th. Jefferies Financial Group upgraded shares of Beacon Roofing Supply from a “hold” rating to a “buy” rating and upped their target price for the stock from $33.00 to $44.00 in a research note on Wednesday, October 14th. Stephens downgraded shares of Beacon Roofing Supply from an “overweight” rating to an “equal weight” rating and set a $36.00 target price on the stock. in a research note on Tuesday, August 11th. TheStreet upgraded shares of Beacon Roofing Supply from a “d+” rating to a “c” rating in a research note on Friday, August 28th. Finally, Zacks Investment Research upgraded shares of Beacon Roofing Supply from a “hold” rating to a “strong-buy” rating and set a $38.00 target price on the stock in a research note on Tuesday, October 6th. Three analysts have rated the stock with a sell rating, six have issued a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the stock. Beacon Roofing Supply has a consensus rating of “Hold” and an average target price of $32.35.

Beacon Roofing Supply stock opened at $36.99 on Friday. The company has a debt-to-equity ratio of 1.98, a current ratio of 2.25 and a quick ratio of 1.59. Beacon Roofing Supply has a 1-year low of $11.66 and a 1-year high of $38.89. The firm has a market capitalization of $2.55 billion, a P/E ratio of -16.74 and a beta of 1.95. The company’s 50-day moving average is $34.78 and its 200 day moving average is $29.55.

Beacon Roofing Supply (NASDAQ:BECN) last posted its quarterly earnings data on Wednesday, November 18th. The company reported $1.32 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.99 by $0.33. Beacon Roofing Supply had a negative net margin of 1.80% and a positive return on equity of 9.45%. During the same period last year, the company posted $1.04 EPS. Research analysts anticipate that Beacon Roofing Supply will post 2.09 earnings per share for the current fiscal year.

Institutional investors and hedge funds have recently made changes to their positions in the business. Macquarie Group Ltd. acquired a new stake in Beacon Roofing Supply in the second quarter valued at approximately $40,000. Banque Cantonale Vaudoise purchased a new position in shares of Beacon Roofing Supply in the third quarter worth $93,000. Neo Ivy Capital Management purchased a new position in shares of Beacon Roofing Supply in the third quarter worth $173,000. ProShare Advisors LLC purchased a new position in shares of Beacon Roofing Supply in the second quarter worth $203,000. Finally, GSA Capital Partners LLP purchased a new position in shares of Beacon Roofing Supply in the third quarter worth $209,000. Institutional investors own 98.01% of the company’s stock.

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 solar systems.

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Analyst Recommendations for Beacon Roofing Supply (NASDAQ:BECN)

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