Loop Capital Begins Coverage on Beacon Roofing Supply (NASDAQ:BECN)

Loop Capital started coverage on shares of Beacon Roofing Supply (NASDAQ:BECN) in a research report released on Monday, January 6th, Benzinga reports. The brokerage issued a buy rating and a $37.00 price objective on the stock.

Other analysts also recently issued reports about the stock. Deutsche Bank boosted their price target on shares of Beacon Roofing Supply from $34.00 to $39.00 and gave the stock a hold rating in a research report on Monday, December 16th. Royal Bank of Canada restated a neutral rating on shares of Beacon Roofing Supply in a research report on Wednesday, December 18th. Wedbush restated a neutral rating and set a $29.00 price target (down from $33.00) on shares of Beacon Roofing Supply in a research report on Tuesday, November 26th. JPMorgan Chase & Co. downgraded shares of Beacon Roofing Supply from a neutral rating to an underweight rating and set a $29.00 price target on the stock. in a research report on Thursday, September 26th. Finally, SunTrust Banks dropped their price target on shares of Beacon Roofing Supply from $40.00 to $38.00 and set a buy rating on the stock in a research report on Tuesday, November 26th. Two research analysts have rated the stock with a sell rating, ten have given a hold rating and five have issued a buy rating to the company. The company presently has an average rating of Hold and an average price target of $34.50.

BECN stock traded up $0.44 during mid-day trading on Monday, hitting $35.92. 101,968 shares of the company were exchanged, compared to its average volume of 381,958. The firm has a fifty day simple moving average of $31.34 and a 200 day simple moving average of $32.86. The company has a current ratio of 1.75, a quick ratio of 1.04 and a debt-to-equity ratio of 1.39. Beacon Roofing Supply has a twelve month low of $26.50 and a twelve month high of $40.00. The company has a market capitalization of $2.39 billion, a PE ratio of 15.89, a price-to-earnings-growth ratio of 1.31 and a beta of 1.39.

Beacon Roofing Supply (NASDAQ:BECN) last issued its quarterly earnings data on Monday, November 25th. The company reported $1.04 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.21 by ($0.17). The firm had revenue of $2.03 billion during the quarter, compared to the consensus estimate of $2.05 billion. Beacon Roofing Supply had a negative net margin of 0.15% and a positive return on equity of 9.55%. The company’s revenue for the quarter was up 4.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.07 earnings per share. As a group, sell-side analysts anticipate that Beacon Roofing Supply will post 2.59 earnings per share for the current year.

In other Beacon Roofing Supply news, Director Stuart A. Randle sold 5,802 shares of Beacon Roofing Supply stock in a transaction that occurred on Wednesday, December 11th. The shares were sold at an average price of $30.06, for a total value of $174,408.12. Following the completion of the sale, the director now directly owns 35,519 shares in the company, valued at $1,067,701.14. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Richard W. Frost bought 3,000 shares of Beacon Roofing Supply stock in a transaction on Wednesday, November 27th. The stock was acquired at an average price of $30.05 per share, with a total value of $90,150.00. Following the completion of the purchase, the director now directly owns 37,249 shares of the company’s stock, valued at $1,119,332.45. The disclosure for this purchase can be found here. Insiders own 1.40% of the company’s stock.

Institutional investors have recently modified their holdings of the company. Bank of Montreal Can lifted its stake in shares of Beacon Roofing Supply by 52.4% in the second quarter. Bank of Montreal Can now owns 17,181 shares of the company’s stock worth $630,000 after buying an additional 5,906 shares during the last quarter. Man Group plc lifted its stake in shares of Beacon Roofing Supply by 296.4% in the third quarter. Man Group plc now owns 129,364 shares of the company’s stock worth $4,338,000 after buying an additional 96,727 shares during the last quarter. State Street Corp lifted its stake in shares of Beacon Roofing Supply by 0.5% in the third quarter. State Street Corp now owns 1,400,717 shares of the company’s stock worth $46,966,000 after buying an additional 6,754 shares during the last quarter. California State Teachers Retirement System lifted its stake in shares of Beacon Roofing Supply by 1.1% in the third quarter. California State Teachers Retirement System now owns 105,850 shares of the company’s stock worth $3,549,000 after buying an additional 1,104 shares during the last quarter. Finally, California Public Employees Retirement System lifted its stake in shares of Beacon Roofing Supply by 68.2% in the third quarter. California Public Employees Retirement System now owns 167,457 shares of the company’s stock worth $5,615,000 after buying an additional 67,914 shares during the last quarter.

About Beacon Roofing Supply

Beacon Roofing Supply, Inc, together with its subsidiaries, distributes residential and commercial roofing materials, and other complementary building materials to contractors, home builders, retailers, and building materials suppliers. The company's residential roofing products include asphalt shingles, synthetic slates and tiles, clay and concrete tiles, slates, nail base insulations, metal roofing, felts, synthetic underlayment, wood shingles and shakes, nails and fasteners, metal edgings and flashings, prefabricated flashings, ridges and soffit vents, and solar systems.

Featured Story: What is the Nikkei 225 index?    

Analyst Recommendations for Beacon Roofing Supply (NASDAQ:BECN)

Receive News & Ratings for Beacon Roofing Supply Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Beacon Roofing Supply and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News