Weekly Research Analysts’ Ratings Changes for Beacon Roofing Supply (BECN)

A number of research firms have changed their ratings and price targets for Beacon Roofing Supply (NASDAQ: BECN):

  • 8/4/2017 – Beacon Roofing Supply had its price target lowered by analysts at Royal Bank Of Canada from $58.00 to $50.00. They now have an “outperform” rating on the stock.
  • 8/2/2017 – Beacon Roofing Supply was downgraded by analysts at BidaskClub from a “sell” rating to a “strong sell” rating.
  • 7/25/2017 – Beacon Roofing Supply was downgraded by analysts at BidaskClub from a “hold” rating to a “sell” rating.
  • 7/24/2017 – Beacon Roofing Supply had its “buy” rating reaffirmed by analysts at Royal Bank Of Canada. They now have a $58.00 price target on the stock.
  • 7/18/2017 – Beacon Roofing Supply was upgraded by analysts at Zacks Investment Research from a “sell” rating to a “hold” rating. 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.”
  • 7/12/2017 – Beacon Roofing Supply was downgraded by analysts at Zacks Investment Research from a “buy” rating to a “hold” rating. 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 of 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.”
  • 7/5/2017 – Beacon Roofing Supply was upgraded by analysts at Zacks Investment Research from a “hold” rating to a “buy” rating. They now have a $55.00 price target on the stock. 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 of 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. Over the last two years, Beacon Roofing has outperformed the Zacks sub-industry’s growth. The company has a positive record of earnings surprise in the last few quarters.”

Shares of Beacon Roofing Supply, Inc. (BECN) traded down 0.35% during midday trading on Wednesday, reaching $43.12. 370,347 shares of the company were exchanged. The company has a 50 day moving average price of $48.19 and a 200-day moving average price of $47.83. Beacon Roofing Supply, Inc. has a 12-month low of $39.50 and a 12-month high of $52.12. The stock has a market capitalization of $2.60 billion, a P/E ratio of 25.61 and a beta of 1.32.

Beacon Roofing Supply (NASDAQ:BECN) last posted its earnings results on Wednesday, August 2nd. The company reported $0.84 EPS for the quarter, missing the Zacks’ consensus estimate of $0.90 by $0.06. Beacon Roofing Supply had a net margin of 2.42% and a return on equity of 9.55%. The business had revenue of $1.21 billion during the quarter, compared to analysts’ expectations of $1.27 billion. During the same quarter in the prior year, the firm earned $0.77 EPS. Beacon Roofing Supply’s revenue for the quarter was up 5.3% compared to the same quarter last year. On average, analysts forecast that Beacon Roofing Supply, Inc. will post $2.21 earnings per share for the current fiscal year.

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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