weakinstinct5466

Jan 23, 2016 at 12:19 o\clock

Brokerages Set Beacon Roofing Supply, Inc. (NASDAQ:BECN) Target Price at $43.25

Beacon Roofing Supply, Inc. (NASDAQ:BECN) has been assigned a consensus recommendation of Buy from the eleven research firms that are currently covering the stock, Analyst Ratings Network.com reports. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and seven have given a buy rating to the company. The average 1 year price objective among analysts that have covered the stock in the last year is $43.25.

BECN has been the subject of a number of research reports. Zacks Investment Research cut shares of Beacon Roofing Supply from a hold rating to a sell rating in a report on Tuesday, October 6th. JPMorgan Chase & Co. upgraded shares of Beacon Roofing Supply from a neutral rating to an overweight rating in a report on Monday, October 26th.

William Blair restated a hold rating on shares of Beacon Roofing Supply in a report on Thursday, October 8th. RBC Capital raised their price target on shares of Beacon Roofing Supply from $44.00 to $45.00 and gave the stock a sector perform rating in a report on Wednesday, December 16th. Finally, Robert W. Baird restated a buy rating on shares of Beacon Roofing Supply in a report on Wednesday, November 25th.

Shares of Beacon Roofing Supply (NASDAQ:BECN) opened at 39.32 on Wednesday. The stock has a 50 day moving average of $40.13 and a 200-day moving average of $36.51. The company has a market capitalization of $2.32 billion and a PE ratio of 31.71. Beacon Roofing Supply has a one year low of $23.38 and a one year high of $44.01.

Beacon Roofing Supply (NASDAQ:BECN) last posted its quarterly earnings results on Tuesday, November 24th. The company reported $0.75 EPS for the quarter, topping analysts.

consensus estimates of $0.69 by $0.06. During the same quarter in the previous year, the business posted $0.48 earnings per share. The company earned $787.73 million during the quarter, compared to analyst estimates of $786.37 million. The companys revenue for the quarter was up 8.4% compared to the same quarter last year. On average, equities analysts forecast that Beacon Roofing Supply will post $1.86 earnings per share for the current fiscal year.

In related news, Director James J. Gaffney sold 11,250 shares of the businesss stock in a transaction dated Thursday, December 24th. The shares were sold at an average price of $42.00, for a total transaction of $472,500.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.



Other hedge funds and institutional investors have recently added to or reduced their stakes in the company. Simplex Trading purchased a new position in Beacon Roofing Supply during the fourth quarter valued at $0. Meeder Asset Management boosted its position in Beacon Roofing Supply by 30.6% in the fourth quarter. Meeder Asset Management now owns 6,307 shares of the companys stock valued at $260,000 after buying an additional 1,479 shares during the period. Quantitative Systematic Strategies purchased a new position in Beacon Roofing Supply during the fourth quarter valued at $303,000. Eagle Asset Management boosted its position in Beacon Roofing Supply by 103.6% in the third quarter. Eagle Asset Management now owns 95,978 shares of the companys stock valued at $3,118,000 after buying an additional 48,839 shares during the period. Finally, Jennison Associates boosted its position in Beacon Roofing Supply by 16.0% in the third quarter. Jennison Associates now owns 669,473 shares of the companys stock valued at $21,751,000 after buying an additional 92,497 shares during the period.

Beacon Roofing Supply, Inc. is engaged in distributing residential and non-residential roofing materials in the United States and Canada. The Company also distributes other complementary building materials, including siding, windows, specialty lumber products and waterproofing systems for residential and nonresidential building exteriors. As of September 30, 2013, the Company operated 236 branches in 39 states and six Canadian provinces, carrying up to 11,000 stock keeping units (NASDAQ:BECN). It is a distributor of roofing materials in metropolitan markets in the Northeast, Mid-Atlantic, Midwest, Central Plains, West, South and Southwest regions of the United States and across Canada. The Companys customer base consists of more than 47,000 contractors, home builders, building owners, and other resellers primarily in the Northeast, Mid-Atlantic, Midwest, Central Plains, West, South and Southwest regions of the United States and across Canada.

This story was originally published by EMQ (http://www.emqtv.com) and is the sole property of EMQ. If you are reading this article on another website, that means this article was illegally copied and re-published to this website in violation of U.S. and International copyright law. You can view the original version of this story at http://www.emqtv.com/brokerages-set-beacon-roofing-supply-inc-nasdaqbecn-target-price-at-43-25/154923/

- -

Receive News & Ratings for Beacon Roofing Supply Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Beacon Roofing Supply Inc. and related companies with MarketBeat.com's FREE daily email newsletter.


Comment this entry

Attention: guestbook entries on this weblog have to be approved by the weblog\s owner.