BidaskClub Upgrades Beacon Roofing Supply (NASDAQ:BECN) to Buy

Share on StockTwits

Beacon Roofing Supply (NASDAQ:BECN) was upgraded by analysts at BidaskClub from a “hold” rating to a “buy” rating in a research note issued on Thursday, BidAskClub reports.

BECN has been the subject of several other reports. SunTrust Banks set a $40.00 price objective on shares of Beacon Roofing Supply and gave the company a “buy” rating in a report on Wednesday, August 7th. Wedbush reissued a “neutral” rating and set a $33.00 price objective on shares of Beacon Roofing Supply in a report on Wednesday, August 7th. Raymond James set a $38.00 price objective on shares of Beacon Roofing Supply and gave the company a “buy” rating in a report on Wednesday, August 7th. JPMorgan Chase & Co. cut shares of Beacon Roofing Supply from a “neutral” rating to an “underweight” rating and set a $29.00 price objective for the company. in a report on Thursday, September 26th. Finally, ValuEngine cut shares of Beacon Roofing Supply from a “sell” rating to a “strong sell” rating in a report on Wednesday, October 16th. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and five have given a buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $34.64.

Beacon Roofing Supply stock traded down $0.10 during trading hours on Thursday, reaching $32.88. The stock had a trading volume of 223,200 shares, compared to its average volume of 685,002. The company has a debt-to-equity ratio of 1.59, a current ratio of 2.07 and a quick ratio of 1.17. The company has a fifty day simple moving average of $32.37 and a 200-day simple moving average of $34.34. Beacon Roofing Supply has a 52 week low of $25.10 and a 52 week high of $40.00. The stock has a market cap of $2.26 billion, a PE ratio of 12.18, a PEG ratio of 1.09 and a beta of 1.39.

In other Beacon Roofing Supply news, major shareholder Cd&R Investment Associates Ix, bought 3,207,200 shares of the business’s stock in a transaction that occurred on Wednesday, September 25th. The stock was bought at an average cost of $32.08 per share, for a total transaction of $102,886,976.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 1.20% of the company’s stock.

Several institutional investors and hedge funds have recently bought and sold shares of BECN. Clayton Dubilier & Rice LLC boosted its position in shares of Beacon Roofing Supply by 78.1% in the second quarter. Clayton Dubilier & Rice LLC now owns 10,550,161 shares of the company’s stock worth $393,574,000 after purchasing an additional 4,625,998 shares during the period. Iridian Asset Management LLC CT boosted its position in shares of Beacon Roofing Supply by 14.4% during the second quarter. Iridian Asset Management LLC CT now owns 3,712,742 shares of the company’s stock worth $136,332,000 after acquiring an additional 466,956 shares during the last quarter. FMR LLC boosted its position in shares of Beacon Roofing Supply by 175.1% during the first quarter. FMR LLC now owns 550,230 shares of the company’s stock worth $17,695,000 after acquiring an additional 350,228 shares during the last quarter. Nuveen Asset Management LLC bought a new position in shares of Beacon Roofing Supply during the second quarter worth $12,221,000. Finally, D. E. Shaw & Co. Inc. boosted its position in shares of Beacon Roofing Supply by 162.8% during the second quarter. D. E. Shaw & Co. Inc. now owns 447,777 shares of the company’s stock worth $16,442,000 after acquiring an additional 277,365 shares during 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 solar systems.

Featured Story: Municipal Bonds

Analyst Recommendations for Beacon Roofing Supply (NASDAQ:BECN)

Receive News & Ratings for Beacon Roofing Supply Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Beacon Roofing Supply and related companies with MarketBeat.com's FREE daily email newsletter.



Latest News

Rambus Inc.  Shares Purchased by Vaughan Nelson Investment Management L.P.
Rambus Inc. Shares Purchased by Vaughan Nelson Investment Management L.P.
Scholium Group  Trading Down 6.2%
Scholium Group Trading Down 6.2%
Vaughan Nelson Investment Management L.P. Has $20.80 Million Stock Position in AMETEK, Inc.
Vaughan Nelson Investment Management L.P. Has $20.80 Million Stock Position in AMETEK, Inc.
Vaughan Nelson Investment Management L.P. Lowers Stake in Ares Management Corp
Vaughan Nelson Investment Management L.P. Lowers Stake in Ares Management Corp
Goelzer Investment Management Inc. Purchases New Position in Globe Life Inc.
Goelzer Investment Management Inc. Purchases New Position in Globe Life Inc.
Systematic Financial Management LP Has $621,000 Stock Holdings in Synovus Financial Corp.
Systematic Financial Management LP Has $621,000 Stock Holdings in Synovus Financial Corp.


 
© 2006-2019 Zolmax.