Beacon Roofing Supply (BECN) is Initiated by Jefferies to Hold, Price Target at $46

Beacon Roofing Supply (BECN) was Initiated by Jefferies to “Hold” and the brokerage firm has set the Price Target at $46. Jefferies advised their investors in a research report released on Jul 6, 2016.

Many Wall Street Analysts have commented on Beacon Roofing Supply. BB&T Capital Mkts Upgraded Beacon Roofing Supply on Jun 10, 2016 to ” Buy”, Price Target of the shares are set at $51.

On the company’s financial health, Beacon Roofing Supply reported $0.03 EPS for the quarter, beating the analyst consensus estimate by $ 0.25 according to the earnings call on May 2, 2016. Analyst had a consensus of $-0.22. The company had revenue of $823.50 million for the quarter, compared to analysts expectations of $673.44 million. The company’s revenue was up 99.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $-0.20 EPS.

Beacon Roofing Supply opened for trading at $45.59 and hit $47.1 on the upside on Friday, eventually ending the session at $46.36, with a gain of 1.96% or 0.89 points. The heightened volatility saw the trading volume jump to 12,62,754 shares. Company has a market cap of $2,762 M.

In a different news, on Jun 27, 2016, Robert R Buck (Chairman) sold 17,556 shares at $45.37 per share price. According to the SEC, on Feb 10, 2016, Wilson B Sexton (director) sold 7,385 shares at $37.29 per share price. On Dec 28, 2015, James J Gaffney (director) sold 11,250 shares at $42.03 per share price, according to the Form-4 filing with the securities and exchange commission.

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 11000 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 Company’s customer base consists of more than 47000 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.

Beacon Roofing Supply

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