Northcoast Research downgraded shares of Beacon Roofing Supply (NASDAQ:BECN) from a buy rating to a neutral rating in a report released on Monday morning, 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.
Several other analysts also recently commented on BECN. Jefferies Group restated a buy rating and set a $73.00 price objective on shares of Beacon Roofing Supply in a research report on Wednesday, January 17th. Zacks Investment Research downgraded shares of Beacon Roofing Supply from a strong-buy rating to a hold rating in a report on Monday, January 22nd. BidaskClub downgraded shares of Beacon Roofing Supply from a hold rating to a sell rating in a report on Wednesday, January 24th. Citigroup reduced their price target on shares of Beacon Roofing Supply from $65.00 to $60.00 and set a neutral rating on the stock in a report on Friday, February 9th. Finally, Royal Bank of Canada set a $66.00 price target on shares of Beacon Roofing Supply and gave the company a buy rating in a report on Friday, February 9th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and five have given a buy rating to the company’s stock. The company currently has a consensus rating of Hold and an average target price of $63.30.
Shares of BECN stock opened at $39.52 on Monday. The firm has a market cap of $2.73 billion, a PE ratio of 19.08, a PEG ratio of 0.39 and a beta of 1.40. Beacon Roofing Supply has a one year low of $38.96 and a one year high of $40.49. The company has a debt-to-equity ratio of 1.65, a quick ratio of 1.13 and a current ratio of 2.18.
Beacon Roofing Supply (NASDAQ:BECN) last announced its quarterly earnings data on Tuesday, May 8th. The company reported ($0.35) EPS for the quarter, missing the Thomson Reuters’ consensus estimate 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% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.04) earnings per share. equities analysts forecast that Beacon Roofing Supply will post 3.46 EPS for the current fiscal year.
Hedge funds and other institutional investors have recently made changes to their positions in the business. We Are One Seven LLC increased its holdings in Beacon Roofing Supply by 194.6% in the 1st quarter. We Are One Seven LLC now owns 1,918 shares of the company’s stock valued at $102,000 after acquiring an additional 1,267 shares during the last quarter. Cerebellum GP LLC purchased a new position in shares of Beacon Roofing Supply in the 4th quarter worth $130,000. Macquarie Group Ltd. purchased a new position in shares of Beacon Roofing Supply in the 4th quarter worth $147,000. CAPROCK Group Inc. purchased a new position in shares of Beacon Roofing Supply in the 4th quarter worth $212,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of Beacon Roofing Supply by 95.5% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,861 shares of the company’s stock worth $246,000 after buying an additional 1,886 shares in 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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