Beacon Roofing Supply, Inc. (NASDAQ:BECN)’s share price reached a new 52-week high on Tuesday . The company traded as high as $52.14 and last traded at $52.14, with a volume of 252,892 shares changing hands. The stock had previously closed at $51.96.

A number of equities analysts have weighed in on the stock. SunTrust Banks, Inc. reissued a “buy” rating and issued a $55.00 price objective on shares of Beacon Roofing Supply in a research report on Monday. Royal Bank Of Canada decreased their price objective on shares of Beacon Roofing Supply from $58.00 to $50.00 and set an “outperform” rating for the company in a research report on Friday, August 4th. BidaskClub cut shares of Beacon Roofing Supply from a “sell” rating to a “strong sell” rating in a research report on Wednesday, August 2nd. Zacks Investment Research cut shares of Beacon Roofing Supply from a “buy” rating to a “hold” rating in a research report on Wednesday, July 12th. Finally, KeyCorp reissued a “buy” rating and issued a $56.00 price objective on shares of Beacon Roofing Supply in a research report on Tuesday, September 12th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and seven have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $52.55.

The company has a 50-day moving average of $47.50 and a 200 day moving average of $48.01. The company has a market cap of $3.19 billion, a price-to-earnings ratio of 31.42 and a beta of 1.32.

Beacon Roofing Supply (NASDAQ:BECN) last posted its quarterly earnings results on Wednesday, August 2nd. The company reported $0.84 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.90 by ($0.06). The company had revenue of $1.21 billion during the quarter, compared to analyst estimates of $1.27 billion. Beacon Roofing Supply had a return on equity of 9.55% and a net margin of 2.42%. The business’s revenue for the quarter was up 5.3% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.77 earnings per share. Equities analysts forecast that Beacon Roofing Supply, Inc. will post $2.19 EPS for the current fiscal year.

A number of hedge funds and other institutional investors have recently bought and sold shares of BECN. BlackRock Inc. grew its position in Beacon Roofing Supply by 80,484.5% in the 1st quarter. BlackRock Inc. now owns 4,021,973 shares of the company’s stock worth $197,720,000 after purchasing an additional 4,016,982 shares during the last quarter. BlueCrest Capital Management Ltd acquired a new stake in Beacon Roofing Supply in the 1st quarter worth $21,690,000. Cramer Rosenthal Mcglynn LLC grew its position in Beacon Roofing Supply by 51.2% in the 2nd quarter. Cramer Rosenthal Mcglynn LLC now owns 1,174,020 shares of the company’s stock worth $57,527,000 after purchasing an additional 397,770 shares during the last quarter. Vanguard Group Inc. grew its position in Beacon Roofing Supply by 5.4% in the 1st quarter. Vanguard Group Inc. now owns 4,845,530 shares of the company’s stock worth $238,207,000 after purchasing an additional 246,233 shares during the last quarter. Finally, Lord Abbett & CO. LLC grew 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 worth $91,807,000 after purchasing an additional 176,659 shares during the last quarter. Institutional investors own 91.22% of the company’s stock.

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Beacon Roofing Supply Company Profile

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.

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