Beacon Roofing Supply, Inc. (BECN) Receives “Buy” Rating from SunTrust Banks, Inc.
Beacon Roofing Supply, Inc. (NASDAQ:BECN)‘s stock had its “buy” rating reissued by investment analysts at SunTrust Banks, Inc. in a report issued on Tuesday.
Other analysts have also recently issued reports about the company. Royal Bank Of Canada reaffirmed a “buy” rating and set a $58.00 price objective on shares of Beacon Roofing Supply in a research report on Monday, July 24th. BidaskClub cut Beacon Roofing Supply from a “sell” rating to a “strong sell” rating in a research report on Wednesday, August 2nd. Zacks Investment Research raised Beacon Roofing Supply from a “sell” rating to a “hold” rating in a research report on Tuesday, July 18th. Wedbush reissued a “neutral” rating and issued a $47.00 price target on shares of Beacon Roofing Supply in a research report on Wednesday, May 31st. Finally, Citigroup Inc. boosted their price target on Beacon Roofing Supply from $48.00 to $51.00 and gave the stock a “neutral” rating in a research report on Monday, August 28th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and seven have given a buy rating to the company. Beacon Roofing Supply currently has an average rating of “Buy” and an average price target of $51.60.
Shares of Beacon Roofing Supply (NASDAQ:BECN) traded up 0.27% on Tuesday, reaching $48.77. The company’s stock had a trading volume of 855,700 shares. The company has a market cap of $2.94 billion, a P/E ratio of 28.96 and a beta of 1.30. The company’s 50 day moving average price is $44.56 and its 200 day moving average price is $47.64. Beacon Roofing Supply has a 12-month low of $39.50 and a 12-month high of $52.12.
Beacon Roofing Supply (NASDAQ:BECN) last posted its quarterly earnings data on Wednesday, August 2nd. The company reported $0.84 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.90 by ($0.06). The firm had revenue of $1.21 billion for the quarter, compared to the consensus estimate of $1.27 billion. Beacon Roofing Supply had a net margin of 2.42% and a return on equity of 9.55%. The business’s revenue was up 5.3% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.77 earnings per share. Analysts forecast that Beacon Roofing Supply will post $2.20 EPS for the current fiscal year.
A number of hedge funds have recently added to or reduced their stakes in the stock. Lord Abbett & CO. LLC lifted its position in Beacon Roofing Supply by 10.4% in the 2nd quarter. Lord Abbett & CO. LLC now owns 1,873,615 shares of the company’s stock valued at $91,807,000 after acquiring an additional 176,659 shares in the last quarter. Dynamic Technology Lab Private Ltd bought a new position in Beacon Roofing Supply in the 2nd quarter valued at approximately $312,000. Public Employees Retirement System of Ohio lifted its position in Beacon Roofing Supply by 27.2% in the 2nd quarter. Public Employees Retirement System of Ohio now owns 194,591 shares of the company’s stock valued at $9,535,000 after acquiring an additional 41,654 shares in the last quarter. 1st Global Advisors Inc. lifted its position in Beacon Roofing Supply by 0.8% in the 2nd quarter. 1st Global Advisors Inc. now owns 9,836 shares of the company’s stock valued at $482,000 after acquiring an additional 76 shares in the last quarter. Finally, Verition Fund Management LLC bought a new position in Beacon Roofing Supply in the 2nd quarter valued at approximately $383,000.
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.
Receive News & Stock Ratings for Beacon Roofing Supply Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Beacon Roofing Supply Inc. and related stocks with our FREE daily email newsletter.