Beacon Roofing Supply (BECN) is Reiterated by RBC Capital Mkts to Outperform, Lowers Price Target to $ 51

Beacon Roofing Supply (BECN) was Reiterated by RBC Capital Mkts to “Outperform” while Lowering the Price Target of the company shares to $ 51 from a previous price target of $54 . RBC Capital Mkts advised their investors in a research report released on Nov 22, 2016.

On the company’s financial health, Beacon Roofing Supply reported $0.88 EPS for the quarter, missing the analyst consensus estimate by $ -0.03 based on the information available during the earnings call on Nov 21, 2016. Analyst had a consensus of $0.91. The company had revenue of $1174.40 million for the quarter, compared to analysts expectations of $1274.16 million. The company’s revenue was up 49.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.75 EPS.

Beacon Roofing Supply opened for trading at $47.38 and hit $47.59 on the upside on Monday, eventually ending the session at $47.4, with a gain of 0.21% or 0.1 points. The heightened volatility saw the trading volume jump to 4,02,126 shares. Company has a market cap of $2,833 M.

In a different news, on Sep 8, 2016, Carl T Berquist (director) purchased 5,000 shares at $44.81 per share price. According to the SEC, on Aug 29, 2016, Paul Isabella (President & CEO) sold 45,000 shares at $46.37 per share price. On Aug 11, 2016, Robert M Mclaughlin (director) purchased 6,000 shares at $45.79 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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