Beacon Roofing Supply, Inc. (NASDAQ:BECN) – Stock analysts at William Blair lifted their Q1 2018 earnings per share estimates for shares of Beacon Roofing Supply in a research report issued on Wednesday. William Blair analyst R. Merkel now forecasts that the company will post earnings per share of $0.54 for the quarter, up from their prior forecast of $0.53. William Blair also issued estimates for Beacon Roofing Supply’s FY2018 earnings at $3.12 EPS.
Several other brokerages have also recently issued reports on BECN. Wedbush reiterated a “neutral” rating and issued a $46.00 price objective (down previously from $52.00) on shares of Beacon Roofing Supply in a research note on Friday, November 17th. SunTrust Banks reiterated a “buy” rating on shares of Beacon Roofing Supply in a research note on Tuesday, September 12th. Robert W. Baird reiterated a “buy” rating and issued a $55.00 price objective on shares of Beacon Roofing Supply in a research note on Thursday, October 12th. Zacks Investment Research raised Beacon Roofing Supply from a “hold” rating to a “strong-buy” rating and set a $68.00 target price on the stock in a research report on Thursday, November 23rd. Finally, KeyCorp reissued a “buy” rating and set a $56.00 target price on shares of Beacon Roofing Supply in a research report on Sunday, October 15th. Four analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. The stock has a consensus rating of “Buy” and an average price target of $56.91.
Shares of Beacon Roofing Supply (NASDAQ:BECN) traded up $1.39 on Thursday, hitting $66.08. The stock had a trading volume of 697,700 shares, compared to its average volume of 656,850. The company has a quick ratio of 1.35, a current ratio of 2.06 and a debt-to-equity ratio of 0.42. The stock has a market cap of $4,381.74, a PE ratio of 40.54, a PEG ratio of 0.83 and a beta of 1.49. Beacon Roofing Supply has a fifty-two week low of $39.57 and a fifty-two week high of $66.43.
Beacon Roofing Supply (NASDAQ:BECN) last announced its quarterly earnings data on Monday, November 20th. The company reported $0.93 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.94 by ($0.01). The company had revenue of $1.29 billion during the quarter, compared to analysts’ expectations of $1.26 billion. Beacon Roofing Supply had a net margin of 2.30% and a return on equity of 9.09%. The business’s quarterly revenue was up 9.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.88 EPS.
In other Beacon Roofing Supply news, CEO Paul Isabella sold 40,000 shares of Beacon Roofing Supply stock in a transaction that occurred on Monday, November 27th. The stock was sold at an average price of $60.57, for a total transaction of $2,422,800.00. Following the transaction, the chief executive officer now owns 172,046 shares of the company’s stock, valued at $10,420,826.22. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, EVP Ross D. Cooper sold 2,000 shares of Beacon Roofing Supply stock in a transaction that occurred on Tuesday, November 21st. The stock was sold at an average price of $59.75, for a total value of $119,500.00. Following the transaction, the executive vice president now directly owns 7,056 shares in the company, valued at approximately $421,596. The disclosure for this sale can be found here. 0.75% of the stock is currently owned by company insiders.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in BECN. Jennison Associates LLC increased its position in Beacon Roofing Supply by 502.2% during the third quarter. Jennison Associates LLC now owns 1,683,096 shares of the company’s stock worth $86,259,000 after buying an additional 1,403,608 shares during the period. TimesSquare Capital Management LLC increased its position in Beacon Roofing Supply by 108.4% during the third quarter. TimesSquare Capital Management LLC now owns 2,362,015 shares of the company’s stock worth $121,053,000 after buying an additional 1,228,625 shares during the period. Bamco Inc. NY acquired a new position in Beacon Roofing Supply during the third quarter worth approximately $61,982,000. Stephens Investment Management Group LLC acquired a new position in Beacon Roofing Supply during the third quarter worth approximately $32,333,000. Finally, Davidson Kempner Capital Management LP acquired a new position in Beacon Roofing Supply during the third quarter worth approximately $25,625,000.
Beacon Roofing Supply Company Profile
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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