Beacon Roofing Supply, Inc. (NASDAQ:BECN) had its target price hoisted by Royal Bank of Canada from $51.00 to $58.00 in a report released on Monday, May 8th. The brokerage currently has an outperform rating on the stock.
A number of other analysts have also weighed in on the stock. William Blair reaffirmed a neutral rating and set a $45.00 target price on shares of Beacon Roofing Supply in a report on Friday, April 14th. Zacks Investment Research raised shares of Beacon Roofing Supply from a sell rating to a buy rating and set a $56.00 target price on the stock in a report on Thursday, April 13th. Finally, Jefferies Group LLC reaffirmed a hold rating and set a $46.00 target price on shares of Beacon Roofing Supply in a report on Friday, March 17th. Three research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. The stock has a consensus rating of Buy and a consensus target price of $51.89.
Beacon Roofing Supply (NASDAQ:BECN) traded up 0.98% on Monday, reaching $48.52. The company’s stock had a trading volume of 195,104 shares. The firm has a market cap of $2.92 billion, a P/E ratio of 29.60 and a beta of 1.31. Beacon Roofing Supply has a 12 month low of $39.50 and a 12 month high of $52.12. The firm’s 50 day moving average is $49.37 and its 200-day moving average is $46.86.
Beacon Roofing Supply (NASDAQ:BECN) last announced its quarterly earnings results on Thursday, May 4th. The company reported ($0.04) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.06) by $0.02. The company had revenue of $870.70 million for the quarter, compared to analysts’ expectations of $814.74 million. Beacon Roofing Supply had a net margin of 2.49% and a return on equity of 9.99%. Beacon Roofing Supply’s revenue was up 5.7% compared to the same quarter last year. During the same period in the prior year, the company posted $0.03 EPS. On average, equities research analysts anticipate that Beacon Roofing Supply will post $2.38 EPS for the current year.
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Large investors have recently made changes to their positions in the stock. Russell Investments Group Ltd. acquired a new stake in shares of Beacon Roofing Supply during the fourth quarter worth about $2,489,000. Aberdeen Asset Management PLC UK boosted its stake in shares of Beacon Roofing Supply by 71.0% in the fourth quarter. Aberdeen Asset Management PLC UK now owns 1,691,125 shares of the company’s stock worth $77,910,000 after buying an additional 702,319 shares during the period. Adage Capital Partners GP L.L.C. boosted its stake in shares of Beacon Roofing Supply by 19.1% in the third quarter. Adage Capital Partners GP L.L.C. now owns 1,210,012 shares of the company’s stock worth $50,905,000 after buying an additional 193,788 shares during the period. State Street Corp boosted its stake in shares of Beacon Roofing Supply by 0.9% in the fourth quarter. State Street Corp now owns 1,089,562 shares of the company’s stock worth $50,196,000 after buying an additional 9,983 shares during the period. Finally, BlackRock Fund Advisors boosted its stake in shares of Beacon Roofing Supply by 2.6% in the third quarter. BlackRock Fund Advisors now owns 1,884,508 shares of the company’s stock worth $79,281,000 after buying an additional 47,928 shares during the period.
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.
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