Beacon Roofing Supply (NASDAQ:BECN) Stock Rating Lowered by BidaskClub

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Beacon Roofing Supply (NASDAQ:BECN) was downgraded by research analysts at BidaskClub from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Friday, BidAskClub reports.

Several other equities research analysts have also issued reports on BECN. Raymond James raised their target price on Whitecap Resources from C$8.50 to C$8.75 and gave the company a “strong-buy” rating in a research report on Monday, June 10th. ValuEngine lowered Zynerba Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Tuesday, May 28th. Wells Fargo & Co reaffirmed a “hold” rating and set a $11.00 target price on shares of Coty in a research report on Wednesday, May 8th. Buckingham Research raised their target price on Servicemaster Global from $48.00 to $53.00 and gave the company a “buy” rating in a research report on Tuesday, March 26th. Finally, Wedbush reaffirmed an “outperform” rating on shares of Purple Innovation in a research report on Wednesday, May 8th. One equities research analyst has rated the stock with a sell rating, twelve have issued a hold rating and four have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $37.33.

Shares of Beacon Roofing Supply stock opened at $37.20 on Friday. Beacon Roofing Supply has a 1 year low of $24.97 and a 1 year high of $43.91. The stock has a market cap of $2.50 billion, a price-to-earnings ratio of 13.78, a PEG ratio of 1.22 and a beta of 1.45. The company’s fifty day simple moving average is $35.39. The company has a current ratio of 2.27, a quick ratio of 1.22 and a debt-to-equity ratio of 1.62.

Beacon Roofing Supply (NASDAQ:BECN) last announced its earnings results on Tuesday, May 7th. The company reported ($0.45) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.51) by $0.06. Beacon Roofing Supply had a return on equity of 10.76% and a net margin of 0.41%. The firm had revenue of $1.43 billion during the quarter, compared to analyst estimates of $1.38 billion. During the same period last year, the firm posted ($0.35) EPS. The business’s revenue was up .2% compared to the same quarter last year. As a group, equities analysts forecast that Beacon Roofing Supply will post 2.91 EPS for the current fiscal year.

In related news, COO C Eric Swank sold 5,250 shares of Beacon Roofing Supply stock in a transaction dated Friday, May 17th. The stock was sold at an average price of $38.14, for a total value of $200,235.00. Following the completion of the sale, the chief operating officer now owns 34,949 shares of the company’s stock, valued at approximately $1,332,954.86. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Richard W. Frost acquired 11,754 shares of the firm’s stock in a transaction that occurred on Thursday, June 13th. The stock was purchased at an average cost of $34.17 per share, with a total value of $401,634.18. Following the acquisition, the director now owns 34,249 shares in the company, valued at approximately $1,170,288.33. The disclosure for this purchase can be found here. Company insiders own 1.20% of the company’s stock.

Institutional investors and hedge funds have recently made changes to their positions in the stock. Investors Research Corp purchased a new position in Beacon Roofing Supply during the 1st quarter valued at about $29,000. First Personal Financial Services grew its holdings in Beacon Roofing Supply by 45.6% during the 1st quarter. First Personal Financial Services now owns 1,508 shares of the company’s stock valued at $48,000 after buying an additional 472 shares in the last quarter. Quantamental Technologies LLC purchased a new position in Beacon Roofing Supply during the 1st quarter valued at about $63,000. FNY Investment Advisers LLC purchased a new position in Beacon Roofing Supply during the 1st quarter valued at about $96,000. Finally, Pearl River Capital LLC grew its holdings in Beacon Roofing Supply by 3,532.0% during the 1st quarter. Pearl River Capital LLC now owns 3,632 shares of the company’s stock valued at $116,000 after buying an additional 3,532 shares in the last quarter.

Beacon Roofing Supply Company Profile

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.

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Analyst Recommendations for Beacon Roofing Supply (NASDAQ:BECN)

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