Beacon Roofing Supply, Inc. (NASDAQ:BECN) was upgraded by Northcoast Research from a “neutral” rating to a “buy” rating in a report issued on Friday. The firm presently has a $53.00 target price on the stock. Northcoast Research’s target price points to a potential upside of 12.05% from the company’s current price.

Several other research firms also recently commented on BECN. Zacks Investment Research upgraded Beacon Roofing Supply from a “hold” rating to a “buy” rating and set a $55.00 price objective on the stock in a research note on Wednesday, July 5th. Royal Bank Of Canada upped their price objective on Beacon Roofing Supply from $51.00 to $58.00 and gave the company an “outperform” rating in a research note on Monday, May 15th. BidaskClub downgraded Beacon Roofing Supply from a “sell” rating to a “strong sell” rating in a research note on Wednesday, August 2nd. Citigroup Inc. reiterated a “buy” rating and issued a $52.00 price objective (up previously from $48.00) on shares of Beacon Roofing Supply in a research note on Thursday, May 11th. Finally, KeyCorp upgraded Beacon Roofing Supply from a “sector weight” rating to an “overweight” rating and set a $52.00 price objective on the stock in a research note on Friday. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and seven have given a buy rating to the company. Beacon Roofing Supply has an average rating of “Buy” and an average price target of $51.70.

Shares of Beacon Roofing Supply (BECN) opened at 47.30 on Friday. Beacon Roofing Supply has a 52-week low of $39.50 and a 52-week high of $52.12. The stock’s 50 day moving average price is $44.85 and its 200-day moving average price is $47.44. The company has a market capitalization of $2.86 billion, a PE ratio of 28.09 and a beta of 1.32.

Beacon Roofing Supply (NASDAQ:BECN) last posted its quarterly earnings data on Wednesday, August 2nd. The company reported $0.84 EPS for the quarter, missing the consensus estimate of $0.90 by $0.06. Beacon Roofing Supply had a net margin of 2.42% and a return on equity of 9.55%. The firm had revenue of $1.21 billion during the quarter, compared to analysts’ expectations of $1.27 billion. During the same quarter in the previous year, the company posted $0.77 EPS. Beacon Roofing Supply’s revenue for the quarter was up 5.3% on a year-over-year basis. On average, analysts expect that Beacon Roofing Supply will post $2.20 earnings per share for the current year.

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Several large investors have recently bought and sold shares of BECN. Strs Ohio increased its stake in Beacon Roofing Supply by 0.4% in the first quarter. Strs Ohio now owns 111,100 shares of the company’s stock valued at $5,461,000 after buying an additional 400 shares in the last quarter. Russell Investments Group Ltd. increased its stake in Beacon Roofing Supply by 82.0% in the first quarter. Russell Investments Group Ltd. now owns 97,296 shares of the company’s stock valued at $4,782,000 after buying an additional 43,824 shares in the last quarter. Wells Fargo & Company MN increased its stake in Beacon Roofing Supply by 3.9% in the first quarter. Wells Fargo & Company MN now owns 663,448 shares of the company’s stock valued at $32,615,000 after buying an additional 24,769 shares in the last quarter. Genovese Burford & Brothers Wealth & Retirement Plan Management LLC increased its stake in Beacon Roofing Supply by 2,200.0% in the first quarter. Genovese Burford & Brothers Wealth & Retirement Plan Management LLC now owns 2,300 shares of the company’s stock valued at $114,000 after buying an additional 2,200 shares in the last quarter. Finally, Monarch Partners Asset Management LLC bought a new stake in Beacon Roofing Supply during the first quarter valued at about $6,277,000.

About Beacon Roofing Supply

Beacon Roofing Supply, Inc is engaged in the distribution of residential and non-residential roofing materials in the United States and Canada. It also distributes complementary building products for residential and non-residential building exteriors. Its product portfolio includes residential roofing products, non-residential roofing products and complementary building products.

Analyst Recommendations for Beacon Roofing Supply (NASDAQ:BECN)

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