Beacon Roofing Supply (NASDAQ:BECN) had its price target increased by investment analysts at Deutsche Bank Aktiengesellschaft from $35.00 to $38.00 in a report issued on Friday, The Fly reports. The brokerage presently has a “hold” rating on the stock. Deutsche Bank Aktiengesellschaft’s price objective points to a potential upside of 2.73% from the company’s previous close.
A number of other equities research analysts have also commented on BECN. Loop Capital upped their price target on Beacon Roofing Supply from $42.00 to $46.00 and gave the company a “buy” rating in a research report on Friday. William Blair upgraded Beacon Roofing Supply from a “market perform” rating to an “outperform” rating in a research report on Tuesday, October 6th. BidaskClub lowered Beacon Roofing Supply from a “buy” rating to a “hold” rating in a research report on Thursday, October 29th. Robert W. Baird upgraded Beacon Roofing Supply from a “neutral” rating to an “outperform” rating and upped their price target for the company from $36.00 to $43.00 in a research report on Monday, October 12th. Finally, Jefferies Financial Group upgraded Beacon Roofing Supply from a “hold” rating to a “buy” rating and upped their price target for the company from $33.00 to $44.00 in a research report on Wednesday, October 14th. Three equities research analysts have rated the stock with a sell rating, six have assigned a hold rating, seven have given a buy rating and one has issued a strong buy rating to the stock. The stock has an average rating of “Hold” and an average target price of $32.35.
Shares of BECN stock opened at $36.99 on Friday. The firm has a market capitalization of $2.55 billion, a P/E ratio of -16.74 and a beta of 1.95. Beacon Roofing Supply has a twelve month low of $11.66 and a twelve month high of $38.89. The company has a quick ratio of 1.59, a current ratio of 2.25 and a debt-to-equity ratio of 1.98. The stock’s fifty day simple moving average is $34.78 and its 200 day simple moving average is $29.55.
Beacon Roofing Supply (NASDAQ:BECN) last issued its quarterly earnings data on Wednesday, November 18th. The company reported $1.32 earnings per share for the quarter, topping analysts’ consensus estimates of $0.99 by $0.33. Beacon Roofing Supply had a positive return on equity of 9.45% and a negative net margin of 1.80%. During the same quarter last year, the company posted $1.04 EPS. As a group, equities research analysts expect that Beacon Roofing Supply will post 2.09 EPS for the current fiscal year.
A number of hedge funds have recently bought and sold shares of the stock. Northwood Liquid Management LP acquired a new position in Beacon Roofing Supply during the 3rd quarter worth approximately $2,114,000. Voloridge Investment Management LLC raised its stake in Beacon Roofing Supply by 100.8% during the 3rd quarter. Voloridge Investment Management LLC now owns 82,300 shares of the company’s stock worth $2,557,000 after buying an additional 41,308 shares during the period. Neo Ivy Capital Management acquired a new position in Beacon Roofing Supply during the 3rd quarter worth approximately $173,000. Squarepoint Ops LLC raised its stake in Beacon Roofing Supply by 873.8% during the 3rd quarter. Squarepoint Ops LLC now owns 127,984 shares of the company’s stock worth $3,976,000 after buying an additional 114,841 shares during the period. Finally, Engineers Gate Manager LP acquired a new position in Beacon Roofing Supply during the 3rd quarter worth approximately $784,000. 98.01% of the stock is currently owned by institutional investors and hedge funds.
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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