Beacon Roofing Supply, Inc. (NASDAQ:BECN)‘s stock had its “buy” rating reiterated by equities research analysts at KeyCorp in a report released on Tuesday. They currently have a $56.00 price objective on the stock. KeyCorp’s price objective would indicate a potential upside of 14.26% from the stock’s current price.

Other research analysts have also recently issued research reports about the stock. SunTrust Banks, Inc. reiterated a “buy” rating on shares of Beacon Roofing Supply in a research note on Tuesday. Northcoast Research upgraded shares of Beacon Roofing Supply from a “neutral” rating to a “buy” rating and set a $53.00 target price for the company in a research note on Friday, August 25th. Jefferies Group LLC upgraded shares of Beacon Roofing Supply from a “hold” rating to a “buy” rating and lifted their target price for the company from $50.00 to $54.00 in a research note on Friday, August 25th. Zacks Investment Research upgraded shares of Beacon Roofing Supply from a “hold” rating to a “buy” rating and set a $55.00 target price for the company in a research note on Wednesday, July 5th. Finally, Royal Bank Of Canada reiterated a “buy” rating and issued a $58.00 target price on shares of Beacon Roofing Supply in a research note on Monday, July 24th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and seven have given a buy rating to the company’s stock. Beacon Roofing Supply presently has an average rating of “Buy” and an average price target of $52.00.

Beacon Roofing Supply (NASDAQ:BECN) opened at 49.01 on Tuesday. The company has a market capitalization of $2.96 billion, a price-to-earnings ratio of 29.10 and a beta of 1.30. Beacon Roofing Supply has a 52 week low of $39.50 and a 52 week high of $52.12. The firm’s 50-day moving average price is $44.74 and its 200-day moving average price is $47.68.

Beacon Roofing Supply (NASDAQ:BECN) last posted its earnings results on Wednesday, August 2nd. The company reported $0.84 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 the consensus estimate of $1.27 billion. During the same quarter last year, the firm posted $0.77 EPS. The business’s revenue was up 5.3% on a year-over-year basis. On average, equities analysts expect that Beacon Roofing Supply will post $2.20 earnings per share for the current year.

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Several institutional investors have recently modified their holdings of the stock. 1st Global Advisors Inc. increased its holdings in shares of Beacon Roofing Supply by 0.8% in the second quarter. 1st Global Advisors Inc. now owns 9,836 shares of the company’s stock valued at $482,000 after purchasing an additional 76 shares in the last quarter. State Board of Administration of Florida Retirement System increased its holdings in shares of Beacon Roofing Supply by 0.3% in the first quarter. State Board of Administration of Florida Retirement System now owns 41,064 shares of the company’s stock valued at $2,019,000 after purchasing an additional 104 shares in the last quarter. Huntington National Bank increased its holdings in shares of Beacon Roofing Supply by 3.8% in the second quarter. Huntington National Bank now owns 3,138 shares of the company’s stock valued at $154,000 after purchasing an additional 116 shares in the last quarter. Greenwood Capital Associates LLC increased its holdings in shares of Beacon Roofing Supply by 5.3% in the first quarter. Greenwood Capital Associates LLC now owns 4,899 shares of the company’s stock valued at $241,000 after purchasing an additional 247 shares in the last quarter. Finally, Virginia Retirement Systems ET AL increased its holdings in shares of Beacon Roofing Supply by 5.4% in the first quarter. Virginia Retirement Systems ET AL now owns 5,900 shares of the company’s stock valued at $290,000 after purchasing an additional 300 shares in the last quarter.

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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