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Equities research analysts at Deutsche Bank Aktiengesellschaft began coverage on shares of Beacon Roofing Supply (NASDAQ:BECN - Get Rating) in a research report issued to clients and investors on Wednesday, The Fly reports. The brokerage set a "buy" rating on the stock.
A number of other research analysts have also weighed in on BECN. William Blair lowered Beacon Roofing Supply from an "outperform" rating to a "market perform" rating in a report on Tuesday, July 19th. Royal Bank of Canada lowered shares of Beacon Roofing Supply from an "outperform" rating to a "sector perform" rating and reduced their price target for the company from $70.00 to $58.00 in a research report on Wednesday, June 22nd. Robert W. Baird boosted their target price on shares of Beacon Roofing Supply from $74.00 to $83.00 in a research note on Friday, May 6th. Wells Fargo & Company decreased their target price on Beacon Roofing Supply from $67.00 to $56.00 and set an "equal weight" rating for the company in a research report on Tuesday, June 28th. Finally, JPMorgan Chase & Co. cut their price target on Beacon Roofing Supply from $66.00 to $59.00 in a research note on Friday, July 15th. Seven analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $62.43.
Shares of BECN stock opened at $62.39 on Wednesday. The stock's fifty day simple moving average is $56.04 and its 200 day simple moving average is $58.23. The firm has a market cap of $4.06 billion, a price-to-earnings ratio of 13.25 and a beta of 1.79. Beacon Roofing Supply has a one year low of $45.71 and a one year high of $65.30. The company has a debt-to-equity ratio of 1.24, a current ratio of 1.91 and a quick ratio of 1.02.
Beacon Roofing Supply (NASDAQ:BECN - Get Rating) last released its quarterly earnings results on Thursday, August 4th. The company reported $2.80 EPS for the quarter, beating the consensus estimate of $2.36 by $0.44. Beacon Roofing Supply had a net margin of 5.25% and a return on equity of 29.19%. The business had revenue of $2.36 billion for the quarter, compared to the consensus estimate of $2.28 billion. During the same period in the prior year, the company posted $1.59 earnings per share. Beacon Roofing Supply's revenue was up 26.0% compared to the same quarter last year. On average, analysts expect that Beacon Roofing Supply will post 6.78 earnings per share for the current fiscal year.
In other Beacon Roofing Supply news, major shareholder Cd&R Investment Associates Ix, purchased 103,931 shares of the business's stock in a transaction on Friday, July 29th. The stock was bought at an average cost of $57.73 per share, for a total transaction of $5,999,936.63. Following the acquisition, the insider now owns 14,859,579 shares of the company's stock, valued at approximately $857,843,495.67. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.95% of the stock is currently owned by corporate insiders.
Institutional investors and hedge funds have recently bought and sold shares of the stock. Equitable Trust Co. lifted its stake in shares of Beacon Roofing Supply by 3.1% in the 1st quarter. Equitable Trust Co. now owns 7,555 shares of the company's stock valued at $448,000 after purchasing an additional 225 shares during the period. First Manhattan Co. lifted its stake in shares of Beacon Roofing Supply by 4.3% during the 1st quarter. First Manhattan Co. now owns 5,633 shares of the company's stock valued at $333,000 after buying an additional 233 shares in the last quarter. FourThought Financial LLC boosted its position in shares of Beacon Roofing Supply by 10.2% in the first quarter. FourThought Financial LLC now owns 2,657 shares of the company's stock valued at $158,000 after acquiring an additional 245 shares during the period. Commonwealth Equity Services LLC boosted its position in shares of Beacon Roofing Supply by 4.2% during the 4th quarter. Commonwealth Equity Services LLC now owns 6,146 shares of the company's stock valued at $352,000 after acquiring an additional 247 shares during the last quarter. Finally, AlphaCrest Capital Management LLC grew its position in Beacon Roofing Supply by 4.0% during the first quarter. AlphaCrest Capital Management LLC now owns 7,063 shares of the company's stock valued at $419,000 after acquiring an additional 273 shares during the last quarter.
Beacon Roofing Supply, Inc, together with its subsidiaries, distributes residential and non-residential roofing materials, and complementary building products to contractors, home builders, building owners, lumberyards, and retailers. It offers pitched roofing and low slope roof products; gutters and sidings; building materials, such as lumber and composite, skylights and window, plywood and OSB, decking and railing, and HVAC products; and foam board, spray foam, roll, batt, mineral wool, fiberglass, and commercial insulation products, as well as radiant barriers and blown-in insulation and equipment.See AlsoGet a free copy of the StockNews.com research report on Beacon Roofing Supply (BECN)Institutional Support For TJX Companies May Cap GainsIf You Hate Speed Cameras, Then You’ll Like Verra Mobility Stock Is Sanofi A Buy, Despite Recent Stumbles? Starbucks Stock, Is Brand Loyalty Enough Reason to BuyBJ’s Wholesale Club Pops, Will Costco Be Next?
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