Beacon Roofing Supply Inc. (NASDAQ:BECN) – Equities research analysts at Wedbush upped their Q2 2017 earnings per share estimates for shares of Beacon Roofing Supply in a research report issued to clients and investors on Tuesday. Wedbush analyst A. Kaschalk now anticipates that the brokerage will post earnings of $0.08 per share for the quarter, up from their previous forecast of $0.03. Wedbush has a “Neutral” rating and a $50.00 price objective on the stock.

Several other equities analysts have also recently weighed in on BECN. Zacks Investment Research cut Beacon Roofing Supply from a “hold” rating to a “sell” rating in a report on Tuesday, October 4th. Royal Bank Of Canada decreased their price objective on Beacon Roofing Supply from $54.00 to $51.00 and set an “outperform” rating for the company in a report on Tuesday. RBC Capital Markets restated an “outperform” rating and issued a $51.00 price objective (down previously from $54.00) on shares of Beacon Roofing Supply in a report on Tuesday. Robert W. Baird decreased their price objective on Beacon Roofing Supply from $57.00 to $56.00 and set an “outperform” rating for the company in a report on Tuesday. Finally, Jefferies Group restated a “hold” rating and issued a $46.00 price objective on shares of Beacon Roofing Supply in a report on Wednesday. Five investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average price target of $48.90.

Earnings History and Estimates for Beacon Roofing Supply (NASDAQ:BECN)

Shares of Beacon Roofing Supply (NASDAQ:BECN) opened at 46.08 on Thursday. Beacon Roofing Supply has a 1-year low of $32.24 and a 1-year high of $48.96. The stock has a 50 day moving average price of $43.40 and a 200 day moving average price of $44.22. The company has a market capitalization of $2.76 billion, a price-to-earnings ratio of 30.93 and a beta of 1.33.

Beacon Roofing Supply (NASDAQ:BECN) last released its quarterly earnings data on Monday, November 21st. The company reported $0.88 earnings per share for the quarter, missing the 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 company earned $1.17 billion during the quarter, compared to the consensus estimate of $1.28 billion. During the same quarter in the prior year, the company posted $0.75 earnings per share. The company’s revenue for the quarter was up 49.1% on a year-over-year basis.

A number of large investors have recently modified their holdings of BECN. Glenmede Trust Co. NA increased its stake 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 stake 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 stake 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 stake 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 stake 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.

In related news, Director Carl T. Berquist acquired 5,000 shares of the business’s stock in a transaction on Wednesday, September 7th. The stock was purchased at an average cost of $44.81 per share, for a total transaction of $224,050.00. Following the completion of the transaction, the director now directly owns 5,000 shares of the company’s stock, valued at approximately $224,050. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 1.15% of the company’s stock.

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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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