Beacon Roofing Supply, Inc. (NASDAQ:BECN) – Equities researchers at SunTrust Banks boosted their FY2018 EPS estimates for shares of Beacon Roofing Supply in a research report issued to clients and investors on Monday. SunTrust Banks analyst K. Hughes now anticipates that the company will earn $2.61 per share for the year, up from their prior estimate of $2.60. SunTrust Banks has a “Buy” rating and a $55.00 price objective on the stock.

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

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Other analysts have also recently issued reports about the stock. KeyCorp restated a “buy” rating and set a $56.00 target price on shares of Beacon Roofing Supply in a research report on Tuesday, September 12th. Northcoast Research upgraded shares of Beacon Roofing Supply from a “neutral” rating to a “buy” rating and set a $53.00 target price on the stock in a research report on Friday, August 25th. Jefferies Group LLC upgraded shares of Beacon Roofing Supply from a “hold” rating to a “buy” rating and upped their target price for the company from $50.00 to $54.00 in a research report 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 on the stock in a research report on Wednesday, July 5th. Finally, Royal Bank Of Canada restated a “buy” rating and set a $58.00 target price on shares of Beacon Roofing Supply in a research report on Monday, July 24th. One equities research 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 has an average rating of “Buy” and an average target price of $52.55.

Beacon Roofing Supply (NASDAQ BECN) traded down 0.23% on Wednesday, hitting $52.62. The stock had a trading volume of 199,684 shares. Beacon Roofing Supply has a 52-week low of $39.57 and a 52-week high of $53.11. The company’s 50 day moving average price is $47.83 and its 200 day moving average price is $48.05. The firm has a market cap of $3.18 billion, a price-to-earnings ratio of 31.25 and a beta of 1.32.

A number of institutional investors have recently bought and sold shares of BECN. SG Americas Securities LLC purchased a new stake in Beacon Roofing Supply in the 2nd quarter worth about $100,000. Advisors Asset Management Inc. raised its position in Beacon Roofing Supply by 36.7% in the 2nd quarter. Advisors Asset Management Inc. now owns 2,105 shares of the company’s stock worth $103,000 after purchasing an additional 565 shares during the period. Huntington National Bank raised its position in Beacon Roofing Supply by 3.8% in the 2nd quarter. Huntington National Bank now owns 3,138 shares of the company’s stock worth $154,000 after purchasing an additional 116 shares during the period. Lloyds Banking Group plc raised its position in Beacon Roofing Supply by 37.7% in the 2nd quarter. Lloyds Banking Group plc now owns 3,694 shares of the company’s stock worth $180,000 after purchasing an additional 1,012 shares during the period. Finally, Advisor Group Inc. raised its position in Beacon Roofing Supply by 8.9% in the 2nd quarter. Advisor Group Inc. now owns 3,877 shares of the company’s stock worth $190,000 after purchasing an additional 316 shares during the period. 91.22% of the stock is currently owned by institutional investors.

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.

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

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