Analyst Rating Update on Beacon Roofing Supply (BECN)

Beacon Roofing Supply (NASDAQ:BECN) : The consensus on Beacon Roofing Supply (NASDAQ:BECN) based on 10 analyst recommendation on the company stock is 1.6, which is interpreted as a Buy recommendation. Zacks Investment Research has issued a rank of 2 which endorses a Buy on the stock. However, 6 brokers have a differing view as they consider the stock to be a Strong Buy at current levels. 2 analyst believes that the stock is a Buy, which can produce decent returns in the future. 2 experts consider that the stocks earnings and the quoted price is in harmony, hence, they give it a Hold rating.

Beacon Roofing Supply (NASDAQ:BECN) : The highest level Beacon Roofing Supply (NASDAQ:BECN) is projected to reach is $55 for the short term and the lowest estimate is at $42. The consolidated price target from 7 rating analysts who initiate coverage on the stock is $49.43 and the possibility the share price can swing is $4.24.

For the current week, the company shares have a recommendation consensus of Buy.

Beacon Roofing Supply (NASDAQ:BECN): stock turned positive on Tuesday. Though the stock opened at $43.1, the bulls momentum made the stock top out at $43.73 level for the day. The stock recorded a low of $42.51 and closed the trading day at $43.01, in the green by 0.35%. The total traded volume for the day was 771,693. The stock had closed at $42.86 in the previous days trading.

In an insider trading activity, According to the information disclosed by the Securities and Exchange Commission in a Form 4 filing, the director of Beacon Roofing Supply Inc, Sexton Wilson B had sold 7,385 shares worth of $275,387 in a transaction dated February 8, 2016. In this transaction, 7,385 shares were sold at $37.29 per share.

Beacon Roofing Supply, Inc. is engaged in distributing residential and non-residential roofing materials in the United States and Canada. The Company also distributes other complementary building materials, including siding, windows, specialty lumber products and waterproofing systems for residential and nonresidential building exteriors. As of September 30, 2013, the Company operated 236 branches in 39 states and six Canadian provinces, carrying up to 11,000 stock keeping units (SKUs). It is a distributor of roofing materials in metropolitan markets in the Northeast, Mid-Atlantic, Midwest, Central Plains, West, South and Southwest regions of the United States and across Canada. The Companys customer base consists of more than 47,000 contractors, home builders, building owners, and other resellers primarily in the Northeast, Mid-Atlantic, Midwest, Central Plains, West, South and Southwest regions of the United States and across Canada.

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