Beacon Roofing Supply, Inc. (NASDAQ:BECN) hit a new 52-week high during mid-day trading on Tuesday after SunTrust Banks raised their price target on the stock to $62.00. SunTrust Banks currently has a buy rating on the stock. Beacon Roofing Supply traded as high as $58.20 and last traded at $56.28, with a volume of 1002000 shares changing hands. The stock had previously closed at $55.63.

A number of other analysts have also recently commented on BECN. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $63.00 price target (up from $62.00) on shares of Beacon Roofing Supply in a research note on Tuesday. Wedbush reaffirmed a “neutral” rating and issued a $46.00 price target (down from $52.00) on shares of Beacon Roofing Supply in a research note on Friday, November 17th. Wells Fargo & Company assumed coverage on Beacon Roofing Supply in a research note on Wednesday, October 18th. They issued a “market perform” rating and a $58.00 price target for the company. KeyCorp reaffirmed a “buy” rating and issued a $56.00 price target on shares of Beacon Roofing Supply in a research note on Sunday, October 15th. Finally, Robert W. Baird reaffirmed a “buy” rating and issued a $55.00 price target on shares of Beacon Roofing Supply in a research note on Thursday, October 12th. One analyst has rated the stock with a sell rating, five have issued a hold rating and seven have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $55.75.

Hedge funds have recently bought and sold shares of the business. Bank of New York Mellon Corp increased its position in Beacon Roofing Supply by 2.2% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,061,255 shares of the company’s stock worth $51,999,000 after buying an additional 22,749 shares during the period. BlackRock Inc. increased its position in shares of Beacon Roofing Supply by 1.2% in the second quarter. BlackRock Inc. now owns 4,069,752 shares of the company’s stock worth $199,416,000 after purchasing an additional 47,779 shares during the period. Lord Abbett & CO. LLC increased its position in shares of Beacon Roofing Supply by 10.4% in the second 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 period. Swiss National Bank increased its position in shares of Beacon Roofing Supply by 19.8% in the second quarter. Swiss National Bank now owns 100,000 shares of the company’s stock worth $4,900,000 after purchasing an additional 16,500 shares during the period. Finally, Marshall Wace North America L.P. bought a new position in shares of Beacon Roofing Supply in the second quarter worth $533,000. Hedge funds and other institutional investors own 97.28% of the company’s stock.

The company has a quick ratio of 1.36, a current ratio of 2.30 and a debt-to-equity ratio of 0.86. The stock has a market capitalization of $3,940.00, a PE ratio of 26.24, a P/E/G ratio of 2.55 and a beta of 1.45.

Beacon Roofing Supply (NASDAQ:BECN) last issued its quarterly earnings results on Monday, November 20th. The company reported $0.93 EPS for the quarter, missing the Zacks’ consensus estimate of $0.94 by ($0.01). Beacon Roofing Supply had a return on equity of 9.55% and a net margin of 2.42%. The company had revenue of $1.29 billion during the quarter, compared to the consensus estimate of $1.26 billion. During the same quarter in the previous year, the business posted $0.88 EPS. The firm’s revenue for the quarter was up 9.8% on a year-over-year basis. sell-side analysts expect that Beacon Roofing Supply, Inc. will post 2.19 earnings per share for the current year.

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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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