Trade Report: Today, Q1 2017 EPS Estimates for Beacon Roofing Supply Inc. Decreased by Northcoast Research (BECN)

Today, Q1 2017 EPS Estimates for Beacon Roofing Supply Inc. Decreased by Northcoast Research (BECN)

Beacon Roofing Supply Inc. (NASDAQ:BECN) – Equities researchers at Northcoast Research cut their Q1 2017 earnings estimates for Beacon Roofing Supply in a research note issued to investors on Wednesday. Northcoast Research analyst K. Hocevar now expects that the brokerage will earn $0.50 per share for the quarter, down from their previous estimate of $0.54. Northcoast Research also issued estimates for Beacon Roofing Supply’s Q3 2017 earnings at $0.89 EPS, Q4 2017 earnings at $1.03 EPS, FY2017 earnings at $2.35 EPS and FY2018 earnings at $2.70 EPS.

BECN has been the topic of a number of other reports. Zacks Investment Research lowered shares of Beacon Roofing Supply from a “hold” rating to a “sell” rating in a research report on Tuesday, October 4th. Royal Bank Of Canada reduced their target price on shares of Beacon Roofing Supply from $54.00 to $51.00 and set an “outperform” rating on the stock in a research report on Tuesday. Jefferies Group reiterated a “hold” rating and set a $46.00 target price on shares of Beacon Roofing Supply in a research report on Wednesday. Wedbush reiterated a “neutral” rating and set a $50.00 target price on shares of Beacon Roofing Supply in a research report on Tuesday, September 6th. Finally, Robert W. Baird reduced their target price on shares of Beacon Roofing Supply from $57.00 to $56.00 and set an “outperform” rating on the stock in a research report on Tuesday. Five equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus price target of $48.90.

Beacon Roofing Supply (NASDAQ:BECN) opened at 46.51 on Thursday. The firm has a market cap of $2.78 billion, a price-to-earnings ratio of 31.21 and a beta of 1.33. Beacon Roofing Supply has a 1-year low of $32.24 and a 1-year high of $48.96. The company has a 50-day moving average of $43.50 and a 200-day moving average of $44.25.

A number of large investors have recently modified their holdings of the stock. Advisor Group Inc. purchased a new stake in shares of Beacon Roofing Supply during the second quarter valued at approximately $105,000. Springbok Capital Management LLC increased its stake in shares of Beacon Roofing Supply by 275.5% in the first quarter. Springbok Capital Management LLC now owns 2,700 shares of the company’s stock valued at $111,000 after buying an additional 1,981 shares during the last quarter. Glenmede Trust Co. NA boosted its position in Beacon Roofing Supply by 2.8% in the second quarter. Glenmede Trust Co. NA now owns 3,151 shares of the company’s stock valued at $143,000 after buying an additional 86 shares during the period. Ameritas Investment Partners Inc. bought a new position in Beacon Roofing Supply during the second quarter valued at $212,000. Finally, Virginia Retirement Systems ET AL bought a new position in Beacon Roofing Supply during the third quarter valued at $273,000.

In other news, Director Carl T. Berquist bought 5,000 shares of the stock in a transaction on Wednesday, September 7th. The stock was purchased at an average price of $44.81 per share, with a total value of $224,050.00. Following the completion of the purchase, the director now owns 5,000 shares of the company’s stock, valued at $224,050. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. 1.15% of the stock is currently owned by company insiders.

Beacon Roofing Supply Company Profile

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