Beacon Roofing Supply, Inc. (NASDAQ:BECN) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report released on Tuesday, July 18th.
According to Zacks, “Beacon Roofing Supply expects revenues to grow in the range of 6–9% year over year in fiscal 2017 and adjusted earnings per share to be around $2.34. The company will continue to focus on revenue growth, both organically and through acquisitions while improving margins and operating expense leverage in fiscal 2017. Further, it will benefit from roofing and re-roofing demand. However, the timing of these replacement decisions can vary due to economic factors and weather conditions. The company’s performance will be hurt by seasonality in business and low asphalt shingle demand. Beacon Roofing has underperformed the Zacks sub-industry’s growth in the past one year.”
A number of other research analysts have also commented on the company. William Blair reiterated a “neutral” rating and issued a $45.00 price objective on shares of Beacon Roofing Supply in a research report on Friday, April 14th. Citigroup Inc. restated a “buy” rating and issued a $52.00 price target (up from $48.00) on shares of Beacon Roofing Supply in a research report on Thursday, May 11th. Royal Bank Of Canada raised their price target on Beacon Roofing Supply from $51.00 to $58.00 and gave the stock an “outperform” rating in a research report on Monday, May 8th. Finally, Wedbush reiterated a “neutral” rating and set a $47.00 target price on shares of Beacon Roofing Supply in a report on Wednesday, May 31st. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and four have issued a buy rating to the stock. Beacon Roofing Supply presently has a consensus rating of “Hold” and a consensus price target of $50.50.
Shares of Beacon Roofing Supply (BECN) traded down 0.40% on Tuesday, reaching $41.86. The company’s stock had a trading volume of 470,091 shares. The stock has a 50-day moving average of $46.78 and a 200 day moving average of $47.69. Beacon Roofing Supply has a 52 week low of $39.50 and a 52 week high of $52.12. The stock has a market capitalization of $2.53 billion, a price-to-earnings ratio of 24.86 and a beta of 1.32.
Beacon Roofing Supply (NASDAQ:BECN) last announced its quarterly earnings data on Wednesday, August 2nd. The company reported $0.84 EPS for the quarter, missing the Zacks’ consensus estimate of $0.90 by $0.06. The firm had revenue of $1.21 billion during the quarter, compared to the consensus estimate of $1.27 billion. Beacon Roofing Supply had a net margin of 2.42% and a return on equity of 9.55%. The firm’s quarterly revenue was up 5.3% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.77 earnings per share. On average, analysts expect that Beacon Roofing Supply will post $2.20 EPS for the current year.
Several hedge funds have recently added to or reduced their stakes in BECN. State Board of Administration of Florida Retirement System increased its stake in Beacon Roofing Supply by 0.3% in the first quarter. State Board of Administration of Florida Retirement System now owns 41,064 shares of the company’s stock valued at $2,019,000 after buying an additional 104 shares in the last quarter. 1st Global Advisors Inc. increased its stake in Beacon Roofing Supply by 1.2% in the first quarter. 1st Global Advisors Inc. now owns 9,760 shares of the company’s stock worth $480,000 after buying an additional 116 shares in the last quarter. Huntington National Bank increased its stake in Beacon Roofing Supply by 3.8% in the second quarter. Huntington National Bank now owns 3,138 shares of the company’s stock worth $154,000 after buying an additional 116 shares in the last quarter. Bbva Compass Bancshares Inc. increased its stake in Beacon Roofing Supply by 3.7% in the first quarter. Bbva Compass Bancshares Inc. now owns 5,953 shares of the company’s stock worth $293,000 after buying an additional 212 shares in the last quarter. Finally, Greenwood Capital Associates LLC increased its stake in Beacon Roofing Supply by 5.3% in the first quarter. Greenwood Capital Associates LLC now owns 4,899 shares of the company’s stock worth $241,000 after buying an additional 247 shares in the last quarter.
Beacon Roofing Supply Company Profile
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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