Beacon Roofing Supply Inc. (NASDAQ:BECN) – Jefferies Group lowered their Q4 2016 earnings estimates for shares of Beacon Roofing Supply in a note issued to investors on Thursday. Jefferies Group analyst P. Ng now anticipates that the firm will post earnings per share of $0.92 for the quarter, down from their previous estimate of $0.94. Jefferies Group has a “Hold” rating and a $46.00 price objective on the stock. Jefferies Group also issued estimates for Beacon Roofing Supply’s Q4 2017 earnings at $1.06 EPS and FY2018 earnings at $2.81 EPS.
BECN has been the topic of a number of other research reports. Zacks Investment Research raised Beacon Roofing Supply from a “hold” rating to a “buy” rating and set a $48.00 price objective on the stock in a research report on Tuesday, June 28th. Robert W. Baird reaffirmed an “outperform” rating and set a $55.00 price objective on shares of Beacon Roofing Supply in a research report on Wednesday, July 6th. Wedbush reiterated a “neutral” rating and set a $50.00 target price on shares of Beacon Roofing Supply in a research note on Tuesday, September 6th. Finally, BB&T Corp. upgraded shares of Beacon Roofing Supply from a “hold” rating to a “buy” rating and set a $51.00 target price for the company in a research note on Friday, June 10th. Four research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average price target of $48.44.
Shares of Beacon Roofing Supply (NASDAQ:BECN) opened at 42.07 on Friday. The company has a market cap of $2.51 billion, a price-to-earnings ratio of 33.10 and a beta of 1.39. The firm’s 50-day moving average price is $44.17 and its 200 day moving average price is $43.92. Beacon Roofing Supply has a 12-month low of $32.24 and a 12-month high of $48.96.
Beacon Roofing Supply (NASDAQ:BECN) last released its quarterly earnings results on Tuesday, August 2nd. The company reported $0.77 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.75 by $0.02. Beacon Roofing Supply had a return on equity of 9.66% and a net margin of 1.96%. The business earned $1.15 billion during the quarter, compared to analyst estimates of $1.15 billion. During the same quarter in the previous year, the company posted $0.56 earnings per share. Beacon Roofing Supply’s revenue for the quarter was up 60.5% on a year-over-year basis.
In related news, EVP Ross D. Cooper sold 8,403 shares of the stock in a transaction dated Thursday, July 7th. The shares were sold at an average price of $47.50, for a total transaction of $399,142.50. Following the completion of the transaction, the executive vice president now directly owns 5,255 shares of the company’s stock, valued at $249,612.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Robert M. Mclaughlin purchased 6,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 9th. The shares were purchased at an average cost of $45.79 per share, with a total value of $274,740.00. Following the completion of the acquisition, the director now directly owns 6,000 shares of the company’s stock, valued at $274,740. The disclosure for this purchase can be found here. 1.15% of the stock is currently owned by company insiders.
A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Parametrica Management Ltd purchased a new position in Beacon Roofing Supply during the first quarter valued at about $211,000. TIAA CREF Investment Management LLC boosted its position in Beacon Roofing Supply by 9.3% in the first quarter. TIAA CREF Investment Management LLC now owns 177,602 shares of the company’s stock valued at $7,283,000 after buying an additional 15,152 shares in the last quarter. Teachers Advisors Inc. boosted its position in Beacon Roofing Supply by 13.0% in the first quarter. Teachers Advisors Inc. now owns 444,932 shares of the company’s stock valued at $18,247,000 after buying an additional 51,081 shares in the last quarter. Prudential Financial Inc. boosted its position in Beacon Roofing Supply by 87.6% in the first quarter. Prudential Financial Inc. now owns 9,409 shares of the company’s stock valued at $386,000 after buying an additional 4,394 shares in the last quarter. Finally, BlackRock Inc. boosted its position in Beacon Roofing Supply by 116.8% in the first quarter. BlackRock Inc. now owns 3,442 shares of the company’s stock valued at $141,000 after buying an additional 1,854 shares in the last quarter.
About Beacon Roofing Supply
Beacon Roofing Supply, Inc is a distributor of residential and non-residential roofing materials in the United States. The Company operates in the wholesale distribution of building materials segment. The Company distributes other complementary building materials, such as waterproofing systems for residential and non-residential building exteriors.
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