BidaskClub Downgrades Beacon Roofing Supply (BECN) to Sell

BidaskClub cut shares of Beacon Roofing Supply (NASDAQ:BECN) from a hold rating to a sell rating in a research note published on Thursday morning.

A number of other research firms have also weighed in on BECN. Buckingham Research assumed coverage on Beacon Roofing Supply in a research note on Monday, February 25th. They issued a neutral rating and a $38.00 price objective for the company. Zacks Investment Research raised Beacon Roofing Supply from a hold rating to a buy rating and set a $41.00 price objective for the company in a research note on Monday, February 4th. Wedbush upped their price objective on Beacon Roofing Supply from $30.00 to $33.00 and gave the stock a neutral rating in a research note on Friday, February 8th. Raymond James set a $45.00 price objective on Beacon Roofing Supply and gave the stock a buy rating in a research note on Friday, February 8th. Finally, Royal Bank of Canada set a $37.00 price objective on Beacon Roofing Supply and gave the stock a hold rating in a research note on Friday, February 8th. Two investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and seven have given a buy rating to the stock. The company currently has an average rating of Hold and an average price target of $40.29.

Shares of NASDAQ BECN traded up $0.57 during mid-day trading on Thursday, reaching $34.13. The company’s stock had a trading volume of 239,552 shares, compared to its average volume of 777,725. The firm has a market cap of $2.30 billion, a price-to-earnings ratio of 12.64, a price-to-earnings-growth ratio of 0.51 and a beta of 1.44. The company has a quick ratio of 1.35, a current ratio of 2.43 and a debt-to-equity ratio of 1.61. Beacon Roofing Supply has a 52 week low of $24.97 and a 52 week high of $55.10.



Beacon Roofing Supply (NASDAQ:BECN) last released its quarterly earnings data on Thursday, February 7th. The company reported $0.60 earnings per share for the quarter, topping analysts’ consensus estimates of $0.56 by $0.04. The firm had revenue of $1.72 billion during the quarter, compared to analyst estimates of $1.66 billion. Beacon Roofing Supply had a return on equity of 11.19% and a net margin of 0.43%. The business’s quarterly revenue was up 53.5% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.68 earnings per share. Research analysts expect that Beacon Roofing Supply will post 3.13 EPS for the current fiscal year.

In other news, major shareholder Cd&R Investment Associates Ix, purchased 5,609,763 shares of the company’s stock in a transaction that occurred on Thursday, March 14th. The stock was bought at an average cost of $33.31 per share, with a total value of $186,861,205.53. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.20% of the stock is currently owned by corporate insiders.

Hedge funds have recently modified their holdings of the business. Csenge Advisory Group purchased a new stake in Beacon Roofing Supply during the third quarter valued at approximately $27,000. First Personal Financial Services purchased a new stake in Beacon Roofing Supply during the fourth quarter valued at approximately $33,000. Paradigm Asset Management Co. LLC purchased a new stake in Beacon Roofing Supply during the third quarter valued at approximately $51,000. IFP Advisors Inc raised its position in Beacon Roofing Supply by 107.6% during the fourth quarter. IFP Advisors Inc now owns 2,076 shares of the company’s stock valued at $65,000 after purchasing an additional 1,076 shares during the period. Finally, Lloyds Banking Group plc raised its position in Beacon Roofing Supply by 81.6% during the fourth quarter. Lloyds Banking Group plc now owns 2,534 shares of the company’s stock valued at $80,000 after purchasing an additional 1,139 shares during the period.

About Beacon Roofing Supply

Beacon Roofing Supply, Inc, together with its subsidiaries, distributes residential and commercial roofing materials, and other complementary building materials to contractors, home builders, retailers, and building materials suppliers. The company's residential roofing products include asphalt shingles, synthetic slates and tiles, clay and concrete tiles, slates, nail base insulations, metal roofing, felts, synthetic underlayment, wood shingles and shakes, nails and fasteners, metal edgings and flashings, prefabricated flashings, ridges and soffit vents, and solar systems.

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Analyst Recommendations for Beacon Roofing Supply (NASDAQ:BECN)

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