BidaskClub downgraded shares of Beacon Roofing Supply (NASDAQ:BECN) from a buy rating to a hold rating in a research note released on Tuesday.

Other equities research analysts have also issued research reports about the company. Royal Bank of Canada reissued an outperform rating and issued a $63.00 target price (up previously from $62.00) on shares of Beacon Roofing Supply in a research report on Tuesday, November 21st. KeyCorp reissued a buy rating and issued a $56.00 target price on shares of Beacon Roofing Supply in a research report on Sunday, October 15th. Robert W. Baird reissued an outperform rating and issued a $70.00 target price (up previously from $55.00) on shares of Beacon Roofing Supply in a research report on Tuesday, November 21st. Zacks Investment Research raised Beacon Roofing Supply from a hold rating to a strong-buy rating and set a $68.00 target price on the stock in a research report on Thursday, November 23rd. Finally, SunTrust Banks lifted their target price on Beacon Roofing Supply to $62.00 and gave the company a buy rating in a research report on Tuesday, November 21st. Five equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company’s stock. The company currently has a consensus rating of Buy and a consensus target price of $56.91.

Shares of Beacon Roofing Supply (NASDAQ:BECN) traded up $1.01 during trading on Tuesday, reaching $63.46. The company had a trading volume of 653,358 shares, compared to its average volume of 691,433. Beacon Roofing Supply has a 1-year low of $39.57 and a 1-year high of $66.47. The firm has a market cap of $4,300.00, a price-to-earnings ratio of 38.70, a PEG ratio of 0.82 and a beta of 1.49. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.35 and a current ratio of 2.06.

Beacon Roofing Supply (NASDAQ:BECN) last announced its earnings results on Monday, November 20th. The company reported $0.93 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.94 by ($0.01). Beacon Roofing Supply had a net margin of 2.30% and a return on equity of 9.09%. The firm had revenue of $1.29 billion during the quarter, compared to analyst estimates of $1.26 billion. During the same period in the prior year, the business posted $0.88 EPS. The firm’s quarterly revenue was up 9.8% compared to the same quarter last year. analysts anticipate that Beacon Roofing Supply will post 3.16 EPS for the current fiscal year.

In other Beacon Roofing Supply news, EVP Ross D. Cooper sold 2,000 shares of the firm’s stock in a transaction that occurred on Tuesday, November 21st. The stock was sold at an average price of $59.75, for a total value of $119,500.00. Following the completion of the transaction, the executive vice president now directly owns 7,056 shares in the company, valued at $421,596. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Paul Isabella sold 40,000 shares of the firm’s stock in a transaction that occurred on Monday, November 27th. The shares were sold at an average price of $60.57, for a total value of $2,422,800.00. Following the completion of the transaction, the chief executive officer now owns 172,046 shares of the company’s stock, valued at $10,420,826.22. The disclosure for this sale can be found here. 0.75% of the stock is owned by company insiders.

Hedge funds have recently bought and sold shares of the business. SG Americas Securities LLC bought a new position in Beacon Roofing Supply in the second quarter valued at approximately $100,000. Zions Bancorporation bought a new position in Beacon Roofing Supply in the third quarter valued at approximately $124,000. Advisor Group Inc. grew its stake in Beacon Roofing Supply by 8.9% in the second quarter. Advisor Group Inc. now owns 3,877 shares of the company’s stock valued at $190,000 after purchasing an additional 316 shares in the last quarter. Keybank National Association OH bought a new position in Beacon Roofing Supply in the third quarter valued at approximately $210,000. Finally, GSA Capital Partners LLP bought a new position in Beacon Roofing Supply in the third quarter valued at approximately $214,000.

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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.

Analyst Recommendations for Beacon Roofing Supply (NASDAQ:BECN)

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