Beacon Roofing Supply Inc. (NASDAQ:BECN) had its price objective cut by Royal Bank Of Canada from $54.00 to $51.00 in a report issued on Tuesday morning. They currently have an outperform rating on the stock.

Several other equities analysts have also issued reports on the company. Wedbush reissued a neutral rating and set a $50.00 target price on shares of Beacon Roofing Supply in a research note on Tuesday, September 6th. Zacks Investment Research lowered Beacon Roofing Supply from a hold rating to a sell rating in a research note on Tuesday, October 4th. Five research analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company’s stock. Beacon Roofing Supply has an average rating of Buy and an average price target of $48.90.

Shares of Beacon Roofing Supply (NASDAQ:BECN) traded up 1.312% during midday trading on Tuesday, hitting $45.955. The stock had a trading volume of 121,715 shares. The firm has a 50 day moving average price of $43.30 and a 200 day moving average price of $44.21. The stock has a market cap of $2.75 billion, a PE ratio of 30.842 and a beta of 1.33. Beacon Roofing Supply has a one year low of $32.24 and a one year high of $48.96.

Beacon Roofing Supply (NASDAQ:BECN) last announced its quarterly earnings results on Monday, November 21st. The company reported $0.88 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.91 by $0.03. Beacon Roofing Supply had a net margin of 2.18% and a return on equity of 10.26%. The business earned $1.17 billion during the quarter, compared to analyst estimates of $1.28 billion. During the same period last year, the company earned $0.75 EPS. The business’s revenue for the quarter was up 49.1% on a year-over-year basis. On average, equities analysts forecast that Beacon Roofing Supply will post $2.13 earnings per share for the current fiscal year.

In other Beacon Roofing Supply news, CEO Paul Isabella sold 45,000 shares of Beacon Roofing Supply stock in a transaction that occurred on Friday, August 26th. The stock was sold at an average price of $46.31, for a total value of $2,083,950.00. Following the transaction, the chief executive officer now directly owns 155,414 shares in the company, valued at approximately $7,197,222.34. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Carl T. Berquist bought 5,000 shares of the stock in a transaction on Wednesday, September 7th. The stock was bought at an average price of $44.81 per share, for a total transaction of $224,050.00. Following the completion of the purchase, the director now directly owns 5,000 shares in the company, valued at approximately $224,050. The disclosure for this purchase can be found here. 1.15% of the stock is owned by company insiders.

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Glenmede Trust Co. NA increased its position in shares of 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 period. Principal Financial Group Inc. increased its position in shares of Beacon Roofing Supply by 1.5% in the third quarter. Principal Financial Group Inc. now owns 11,707 shares of the company’s stock valued at $493,000 after buying an additional 176 shares during the period. O Shaughnessy Asset Management LLC increased its position in shares of Beacon Roofing Supply by 0.8% in the second quarter. O Shaughnessy Asset Management LLC now owns 24,376 shares of the company’s stock valued at $1,108,000 after buying an additional 188 shares during the period. Blair William & Co. IL increased its position in shares of Beacon Roofing Supply by 2.4% in the second quarter. Blair William & Co. IL now owns 8,257 shares of the company’s stock valued at $375,000 after buying an additional 190 shares during the period. Finally, Aperio Group LLC increased its position in shares of Beacon Roofing Supply by 3.0% in the third quarter. Aperio Group LLC now owns 9,988 shares of the company’s stock valued at $420,000 after buying an additional 295 shares during the period.

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Beacon Roofing Supply Company Profile

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.

5 Day Chart for NASDAQ:BECN

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