Trade Report: Today: Beacon Roofing Supply Inc. (BECN) Earns “Hold” Rating from Jefferies Group

Today: Beacon Roofing Supply Inc. (BECN) Earns “Hold” Rating from Jefferies Group

Jefferies Group reaffirmed their hold rating on shares of Beacon Roofing Supply Inc. (NASDAQ:BECN) in a research note published on Wednesday morning. They currently have a $46.00 price objective on the stock.

“BECN reported a 4Q miss as top-line growth came in below expectations due to hot weather in August and a disappointing decline in organic commercial sales. Additionally, FY17 EBITDA guidance is below expectations, but seems conservative with margins likely surprising to the upside.”,” the firm’s analyst commented.

Several other equities analysts also recently issued reports on BECN. Wedbush reissued a neutral rating and set a $50.00 price objective on shares of Beacon Roofing Supply in a research note on Tuesday, September 6th. Zacks Investment Research downgraded shares of Beacon Roofing Supply from a hold rating to a sell rating in a research note on Tuesday, October 4th. Royal Bank Of Canada cut their price target on shares of Beacon Roofing Supply from $54.00 to $51.00 and set an outperform rating on the stock in a research note on Tuesday, November 22nd. RBC Capital Markets reaffirmed an outperform rating and set a $51.00 price target (down previously from $54.00) on shares of Beacon Roofing Supply in a research note on Tuesday, November 22nd. Finally, Robert W. Baird cut their price target on shares of Beacon Roofing Supply from $57.00 to $56.00 and set an outperform rating on the stock in a research note on Tuesday, November 22nd. Five research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. The company has a consensus rating of Buy and an average target price of $48.90.

Shares of Beacon Roofing Supply (NASDAQ:BECN) opened at 46.51 on Wednesday. Beacon Roofing Supply has a 52-week low of $32.24 and a 52-week high of $48.96. The stock’s 50 day moving average is $43.50 and its 200 day moving average is $44.25. The stock has a market capitalization of $2.78 billion, a PE ratio of 31.21 and a beta of 1.33.

Beacon Roofing Supply (NASDAQ:BECN) last announced its quarterly earnings data on Monday, November 21st. The company reported $0.88 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.91 by $0.03. The firm had revenue of $1.17 billion for the quarter, compared to analysts’ expectations of $1.28 billion. Beacon Roofing Supply had a net margin of 2.18% and a return on equity of 10.07%. The business’s quarterly revenue was up 49.1% on a year-over-year basis. During the same period in the previous year, the company posted $0.75 EPS. Equities research analysts expect that Beacon Roofing Supply will post $2.33 earnings per share for the current fiscal year.

In other news, Director Carl T. Berquist purchased 5,000 shares of the stock in a transaction that occurred on Wednesday, September 7th. The stock was acquired at an average cost of $44.81 per share, with a total value of $224,050.00. Following the acquisition, the director now owns 5,000 shares in the company, valued at $224,050. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Corporate insiders own 1.15% of the company’s stock.

A number of large investors have recently added to or reduced their stakes in BECN. Advisor Group Inc. purchased a new stake in Beacon Roofing Supply during the second quarter worth $105,000. Springbok Capital Management LLC raised its stake in Beacon Roofing Supply by 275.5% in the first quarter. Springbok Capital Management LLC now owns 2,700 shares of the company’s stock worth $111,000 after buying an additional 1,981 shares during the last quarter. Glenmede Trust Co. NA raised its stake 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 worth $143,000 after buying an additional 86 shares during the last quarter. Ameritas Investment Partners Inc. purchased a new stake in Beacon Roofing Supply during the second quarter worth $212,000. Finally, Virginia Retirement Systems ET AL purchased a new stake in Beacon Roofing Supply during the third quarter worth $273,000.

Beacon Roofing Supply Company Profile

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