Somewhat Positive Press Coverage Somewhat Unlikely to Impact Beacon Roofing Supply (BECN) Share Price

Press coverage about Beacon Roofing Supply (NASDAQ:BECN) has been trending somewhat positive recently, Accern Sentiment reports. The research group ranks the sentiment of news coverage by analyzing more than twenty million blog and news sources in real time. Accern ranks coverage of companies on a scale of -1 to 1, with scores nearest to one being the most favorable. Beacon Roofing Supply earned a coverage optimism score of 0.18 on Accern’s scale. Accern also gave headlines about the company an impact score of 47.0973540542432 out of 100, indicating that recent news coverage is somewhat unlikely to have an impact on the stock’s share price in the next few days.

Shares of Beacon Roofing Supply (NASDAQ BECN) traded up $0.04 during midday trading on Wednesday, reaching $63.28. 380,400 shares of the company traded hands, compared to its average volume of 530,569. Beacon Roofing Supply has a fifty-two week low of $39.57 and a fifty-two week high of $64.88. The firm has a market capitalization of $4,280.00, a price-to-earnings ratio of 38.59, a P/E/G ratio of 0.80 and a beta of 1.49. The company has a debt-to-equity ratio of 0.42, a current ratio of 2.06 and a quick ratio of 1.35.

Beacon Roofing Supply (NASDAQ:BECN) last announced its quarterly earnings data on Monday, November 20th. The company reported $0.93 earnings per share for the quarter, missing the Thomson Reuters’ 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 business had revenue of $1.29 billion during the quarter, compared to analyst estimates of $1.26 billion. During the same quarter in the prior year, the company earned $0.88 earnings per share. The company’s quarterly revenue was up 9.8% on a year-over-year basis. equities research analysts anticipate that Beacon Roofing Supply will post 3.08 earnings per share for the current fiscal year.

Several analysts have weighed in on the stock. BidaskClub cut shares of Beacon Roofing Supply from a “buy” rating to a “hold” rating in a research note on Friday, December 15th. Zacks Investment Research upgraded shares of 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. Robert W. Baird reiterated an “outperform” rating and set a $70.00 target price (up from $55.00) on shares of Beacon Roofing Supply in a research report on Tuesday, November 21st. SunTrust Banks upped their target price on shares of Beacon Roofing Supply to $62.00 and gave the stock a “buy” rating in a research report on Tuesday, November 21st. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $63.00 target price (up from $62.00) on shares of Beacon Roofing Supply in a research report on Tuesday, November 21st. Five research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. Beacon Roofing Supply has a consensus rating of “Buy” and a consensus price target of $56.91.

In related news, EVP Ross D. Cooper sold 2,000 shares of the stock in a transaction that occurred on Tuesday, November 21st. The shares were sold at an average price of $59.75, for a total value of $119,500.00. Following the transaction, the executive vice president now directly owns 7,056 shares in the company, valued at $421,596. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Paul Isabella sold 40,000 shares of the stock in a transaction that occurred on Monday, November 27th. The shares were sold at an average price of $60.57, for a total transaction of $2,422,800.00. Following the completion of the transaction, the chief executive officer now owns 172,046 shares in the company, valued at $10,420,826.22. The disclosure for this sale can be found here. Corporate insiders own 0.75% of the company’s stock.

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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.

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