Northcoast Research downgraded shares of Beacon Roofing Supply (NASDAQ:BECN) from a buy rating to a neutral rating in a research report released on Monday, Marketbeat.com reports. Northcoast Research also issued estimates for Beacon Roofing Supply’s Q4 2018 earnings at $1.61 EPS, FY2018 earnings at $3.45 EPS and FY2019 earnings at $4.45 EPS.
A number of other analysts have also weighed in on the stock. Zacks Investment Research lowered shares of Beacon Roofing Supply from a strong-buy rating to a hold rating in a research note on Monday, January 22nd. BidaskClub lowered shares of Beacon Roofing Supply from a sell rating to a strong sell rating in a research note on Wednesday, February 14th. Jefferies Group reiterated a buy rating and issued a $73.00 price target on shares of Beacon Roofing Supply in a research note on Wednesday, January 17th. Royal Bank of Canada set a $66.00 price target on shares of Beacon Roofing Supply and gave the stock a buy rating in a research note on Friday, February 9th. Finally, Wedbush upgraded shares of Beacon Roofing Supply from a neutral rating to an outperform rating and lifted their price target for the stock from $52.00 to $70.00 in a research note on Tuesday, February 13th. Two analysts have rated the stock with a sell rating, six have issued a hold rating and five have issued a buy rating to the company. The company has a consensus rating of Hold and a consensus target price of $63.30.
NASDAQ:BECN opened at $39.83 on Monday. The stock has a market cap of $2.73 billion, a price-to-earnings ratio of 18.27, a PEG ratio of 0.39 and a beta of 1.40. The company has a debt-to-equity ratio of 1.65, a current ratio of 2.18 and a quick ratio of 1.13. Beacon Roofing Supply has a fifty-two week low of $38.96 and a fifty-two week high of $40.49.
Beacon Roofing Supply (NASDAQ:BECN) last released its quarterly earnings data on Tuesday, May 8th. The company reported ($0.35) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.26). The firm had revenue of $1.43 billion for the quarter, compared to the consensus estimate of $1.41 billion. Beacon Roofing Supply had a net margin of 1.80% and a return on equity of 8.11%. The firm’s revenue for the quarter was up 64.1% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($0.04) earnings per share. equities research analysts expect that Beacon Roofing Supply will post 3.46 earnings per share for the current year.
Several hedge funds have recently made changes to their positions in the company. Lisanti Capital Growth LLC grew its stake in shares of Beacon Roofing Supply by 2.6% in the fourth quarter. Lisanti Capital Growth LLC now owns 48,305 shares of the company’s stock worth $3,080,000 after acquiring an additional 1,220 shares during the period. We Are One Seven LLC grew its stake in shares of Beacon Roofing Supply by 194.6% in the first quarter. We Are One Seven LLC now owns 1,918 shares of the company’s stock worth $102,000 after acquiring an additional 1,267 shares during the period. Guggenheim Capital LLC grew its stake in shares of Beacon Roofing Supply by 5.8% in the first quarter. Guggenheim Capital LLC now owns 23,925 shares of the company’s stock worth $1,270,000 after acquiring an additional 1,318 shares during the period. Amalgamated Bank grew its stake in shares of Beacon Roofing Supply by 18.4% in the fourth quarter. Amalgamated Bank now owns 9,055 shares of the company’s stock worth $577,000 after acquiring an additional 1,406 shares during the period. Finally, Cambridge Investment Research Advisors Inc. boosted its holdings in shares of Beacon Roofing Supply by 42.0% in the fourth quarter. Cambridge Investment Research Advisors Inc. now owns 5,940 shares of the company’s stock worth $379,000 after buying an additional 1,757 shares during the last quarter.
Beacon Roofing Supply Company Profile
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 other accessories.
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