Jefferies Group LLC reaffirmed their hold rating on shares of Beacon Roofing Supply, Inc. (NASDAQ:BECN) in a report released on Friday. Jefferies Group LLC currently has a $46.00 price target on the stock.
Several other analysts have also issued reports on BECN. Seaport Global Securities began coverage on Beacon Roofing Supply in a report on Wednesday, December 7th. They set a buy rating and a $53.00 target price on the stock. Zacks Investment Research upgraded Beacon Roofing Supply from a sell rating to a hold rating in a report on Friday, November 18th. Royal Bank of Canada dropped their target price on Beacon Roofing Supply from $54.00 to $51.00 and set an outperform rating on the stock in a report on Tuesday, November 22nd. Finally, Robert W. Baird dropped their target price on Beacon Roofing Supply from $57.00 to $56.00 and set an outperform rating on the stock in a report on Tuesday, November 22nd. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Beacon Roofing Supply has a consensus rating of Buy and a consensus price target of $51.00.
Shares of Beacon Roofing Supply (NASDAQ:BECN) traded down 0.64% during mid-day trading on Friday, hitting $49.74. The stock had a trading volume of 1,020,224 shares. Beacon Roofing Supply has a 52 week low of $38.71 and a 52 week high of $50.61. The stock has a market capitalization of $2.99 billion, a P/E ratio of 29.31 and a beta of 1.31. The stock has a 50 day moving average of $46.02 and a 200-day moving average of $44.76.
Beacon Roofing Supply (NASDAQ:BECN) last released its earnings results on Thursday, February 2nd. The company reported $0.44 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.43 by $0.01. Beacon Roofing Supply had a return on equity of 9.99% and a net margin of 2.49%. The business had revenue of $1 billion for the quarter, compared to analyst estimates of $1,000 million. During the same quarter in the prior year, the company posted $0.41 earnings per share. Beacon Roofing Supply’s revenue was up 2.6% on a year-over-year basis. On average, equities research analysts predict that Beacon Roofing Supply will post $2.34 earnings per share for the current year.
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A number of hedge funds have recently added to or reduced their stakes in BECN. Advisor Group Inc. raised its stake in Beacon Roofing Supply by 55.5% in the third quarter. Advisor Group Inc. now owns 3,596 shares of the company’s stock valued at $151,000 after buying an additional 1,283 shares in the last quarter. Turner Investments LLC acquired a new stake in Beacon Roofing Supply during the fourth quarter valued at about $169,000. Greenwood Capital Associates LLC acquired a new stake in Beacon Roofing Supply during the fourth quarter valued at about $214,000. Gideon Capital Advisors Inc. acquired a new stake in Beacon Roofing Supply during the fourth quarter valued at about $243,000. Finally, Massmutual Trust Co. FSB ADV acquired a new stake in Beacon Roofing Supply during the fourth quarter valued at about $250,000.
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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