FY2017 EPS Estimates for Beacon Roofing Supply Inc. (BECN) Cut by Analyst
Beacon Roofing Supply Inc. (NASDAQ:BECN) – Research analysts at William Blair lowered their FY2017 earnings per share estimates for shares of Beacon Roofing Supply in a research report issued to clients and investors on Tuesday. William Blair analyst R. Merkel now expects that the firm will post earnings per share of $2.48 for the year, down from their prior estimate of $2.60. William Blair also issued estimates for Beacon Roofing Supply’s Q4 2017 earnings at $1.05 EPS and FY2018 earnings at $2.80 EPS.
A number of other equities analysts have also recently issued reports on BECN. Wedbush reiterated a “neutral” rating and issued a $50.00 price target on shares of Beacon Roofing Supply in a research note on Tuesday, September 6th. Zacks Investment Research cut shares of Beacon Roofing Supply from a “hold” rating to a “sell” rating in a research note on Tuesday, October 4th. One research analyst has rated the stock with a sell rating, four have issued a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company. The company has an average rating of “Buy” and an average target price of $48.44.
Beacon Roofing Supply (NASDAQ:BECN) traded down 0.48% during trading on Wednesday, hitting $45.97. 198,917 shares of the stock traded hands. The firm has a 50-day moving average price of $42.58 and a 200 day moving average price of $44.05. Beacon Roofing Supply has a 52-week low of $32.24 and a 52-week high of $48.96. The company has a market cap of $2.75 billion, a P/E ratio of 36.17 and a beta of 1.33.
A number of institutional investors have recently bought and sold shares of BECN. Advisor Group Inc. bought a new position in Beacon Roofing Supply during the second quarter valued at about $105,000. Springbok Capital Management LLC raised its stake in Beacon Roofing Supply by 275.5% in the first quarter. Springbok Capital Management LLC now owns 2,700 shares of the company’s stock valued at $111,000 after buying an additional 1,981 shares during the last quarter. BlackRock Inc. raised its stake in Beacon Roofing Supply by 116.8% in the first quarter. BlackRock Inc. now owns 3,442 shares of the company’s stock valued at $141,000 after buying an additional 1,854 shares during the last quarter. Glenmede Trust Co. NA raised its stake in Beacon Roofing Supply by 2.8% in the second quarter. Glenmede Trust Co. NA now owns 3,151 shares of the company’s stock valued at $143,000 after buying an additional 86 shares during the last quarter. Finally, Ameritas Investment Partners Inc. acquired a new stake in Beacon Roofing Supply during the second quarter valued at approximately $212,000.
In related news, Director Carl T. Berquist bought 5,000 shares of the stock in a transaction on Wednesday, September 7th. The shares were acquired at an average price of $44.81 per share, for a total transaction of $224,050.00. Following the purchase, the director now owns 5,000 shares of the company’s stock, valued at $224,050. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Paul Isabella sold 45,000 shares of the company’s stock in a transaction dated Friday, August 26th. The shares were sold at an average price of $46.31, for a total transaction of $2,083,950.00. Following the transaction, the chief executive officer now owns 155,414 shares in the company, valued at approximately $7,197,222.34. The disclosure for this sale can be found here. Company insiders own 1.15% of the company’s stock.
About Beacon Roofing Supply
Beacon Roofing Supply, Inc is a distributor of residential and non-residential roofing materials in the United States. The Company operates in the wholesale distribution of building materials segment. The Company distributes other complementary building materials, such as waterproofing systems for residential and non-residential building exteriors.
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