Todays Report: The Beacon Roofing Supply Inc. (BECN) to Post Q2 2017 Earnings of ($0.07) Per Share, Northcoast Research Forecasts

The Beacon Roofing Supply Inc. (BECN) to Post Q2 2017 Earnings of ($0.07) Per Share, Northcoast Research Forecasts

Beacon Roofing Supply Inc. (NASDAQ:BECN) – Northcoast Research lowered their Q2 2017 EPS estimates for shares of Beacon Roofing Supply in a note issued to investors on Wednesday. Northcoast Research analyst K. Hocevar now forecasts that the firm will post earnings per share of ($0.07) for the quarter, down from their previous forecast of ($0.03).

BECN has been the topic of several other research reports. Zacks Investment Research cut Beacon Roofing Supply from a “hold” rating to a “sell” rating in a research report on Tuesday, October 4th. Royal Bank Of Canada dropped their target price on Beacon Roofing Supply from $54.00 to $51.00 and set an “outperform” rating on the stock in a research report on Tuesday, November 22nd. Jefferies Group restated a “hold” rating and issued a $46.00 price target on shares of Beacon Roofing Supply in a report on Wednesday, November 23rd. Wedbush restated a “neutral” rating and issued a $50.00 price target on shares of Beacon Roofing Supply in a report on Tuesday, September 6th. Finally, Robert W. Baird lowered their price target on Beacon Roofing Supply from $57.00 to $56.00 and set an “outperform” rating on the stock in a report on Tuesday, November 22nd. Five research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $48.90.

Shares of Beacon Roofing Supply (NASDAQ:BECN) opened at 46.51 on Monday. The firm has a market cap of $2.78 billion, a PE 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 firm’s 50-day moving average price is $43.50 and its 200 day moving average price is $44.25.

A number of large investors have recently bought and sold shares of the stock. Advisor Group Inc. acquired a new position in shares of Beacon Roofing Supply during the second quarter worth $105,000. Springbok Capital Management LLC raised its position 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 worth $111,000 after buying an additional 1,981 shares in the last quarter. Glenmede Trust Co. NA raised its position in shares of 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 in the last quarter. Ameritas Investment Partners Inc. acquired a new position in shares of Beacon Roofing Supply during the second quarter worth $212,000. Finally, Amalgamated Bank raised its position in shares of Beacon Roofing Supply by 19.2% in the second quarter. Amalgamated Bank now owns 6,319 shares of the company’s stock worth $288,000 after buying an additional 1,016 shares in the last quarter.

In related news, Director Carl T. Berquist bought 5,000 shares of Beacon Roofing Supply stock in a transaction that occurred on Wednesday, September 7th. The shares were purchased at an average price of $44.81 per share, with a total value of $224,050.00. Following the purchase, the director now owns 5,000 shares in the company, valued at $224,050. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.15% of the stock is owned by corporate insiders.

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