Beacon Roofing Supply, Inc. (BECN) Rating Reiterated by Jefferies Group LLC

Beacon Roofing Supply, Inc. (NASDAQ:BECN)‘s stock had its “hold” rating restated by equities research analysts at Jefferies Group LLC in a research report issued on Friday. They presently have a $46.00 price objective on the stock. Jefferies Group LLC’s price objective indicates a potential downside of 7.94% from the company’s previous close.

Several other research analysts also recently commented on BECN. Seaport Global Securities assumed coverage on Beacon Roofing Supply in a report on Wednesday, December 7th. They set a “buy” rating and a $53.00 price objective on the stock. Zacks Investment Research upgraded Beacon Roofing Supply from a “sell” rating to a “hold” rating in a report on Friday, November 18th. Royal Bank of Canada reduced their price objective on Beacon Roofing Supply from $54.00 to $51.00 and set an “outperform” rating on the stock in a report on Tuesday, November 22nd. Finally, Robert W. Baird reduced their price objective on Beacon Roofing Supply from $57.00 to $56.00 and set an “outperform” rating on the stock in a report on Tuesday, November 22nd. Two equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average price target of $51.00.

Analyst Recommendations for Beacon Roofing Supply (NASDAQ:BECN)

Shares of Beacon Roofing Supply (NASDAQ:BECN) opened at 49.97 on Friday. The firm has a 50-day moving average price of $46.02 and a 200 day moving average price of $44.76. The company has a market capitalization of $3.00 billion, a P/E ratio of 29.45 and a beta of 1.31. Beacon Roofing Supply has a 12-month low of $38.71 and a 12-month high of $50.61.

Beacon Roofing Supply (NASDAQ:BECN) last released its quarterly earnings data on Thursday, February 2nd. The company reported $0.44 EPS for the quarter, topping the consensus estimate of $0.43 by $0.01. The company had revenue of $1 billion for the quarter, compared to the consensus estimate of $1,000 million. Beacon Roofing Supply had a return on equity of 9.99% and a net margin of 2.49%. Beacon Roofing Supply’s quarterly revenue was up 2.6% on a year-over-year basis. During the same period last year, the business posted $0.41 EPS. On average, equities research analysts predict that Beacon Roofing Supply will post $2.34 earnings per share for the current year.

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Several hedge funds and other institutional investors have recently made changes to their positions in BECN. BNP Paribas Arbitrage SA increased its position in shares of Beacon Roofing Supply by 16.2% in the third quarter. BNP Paribas Arbitrage SA now owns 18,803 shares of the company’s stock worth $791,000 after buying an additional 2,627 shares in the last quarter. Fisher Asset Management LLC increased its position in shares of Beacon Roofing Supply by 0.5% in the third quarter. Fisher Asset Management LLC now owns 1,721,625 shares of the company’s stock worth $72,429,000 after buying an additional 8,886 shares in the last quarter. Eagle Asset Management Inc. increased its position in shares of Beacon Roofing Supply by 23.0% in the third quarter. Eagle Asset Management Inc. now owns 87,317 shares of the company’s stock worth $3,673,000 after buying an additional 16,308 shares in the last quarter. Skylands Capital LLC increased its position in shares of Beacon Roofing Supply by 7.5% in the third quarter. Skylands Capital LLC now owns 24,400 shares of the company’s stock worth $1,027,000 after buying an additional 1,700 shares in the last quarter. Finally, 1st Global Advisors Inc. increased its position in shares of Beacon Roofing Supply by 5.0% in the third quarter. 1st Global Advisors Inc. now owns 9,853 shares of the company’s stock worth $415,000 after buying an additional 466 shares in the last quarter.

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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