Price Don’t Lie: Beacon Roofing Supply, Inc. Increases Again; Strong Momentum for Buyers

Price Don't Lie: Beacon Roofing Supply, Inc. Increases Again; Strong Momentum for Buyers

The stock of Beacon Roofing Supply, Inc. (NASDAQ:BECN) is a huge mover today! About 296,707 shares traded hands. Beacon Roofing Supply, Inc. (NASDAQ:BECN) has risen 8.52% since March 3, 2016 and is uptrending. It has outperformed by 0.18% the S&P500.
The move comes after 8 months positive chart setup for the $2.60 billion company. It was reported on Oct, 6 by Barchart.com. We have $52.49 PT which if reached, will make NASDAQ:BECN worth $546.00 million more.

Analysts await Beacon Roofing Supply, Inc. (NASDAQ:BECN) to report earnings on November, 22. They expect $0.92 EPS, up 22.67% or $0.17 from last year’s $0.75 per share. BECN’s profit will be $55.14 million for 11.79 P/E if the $0.92 EPS becomes a reality. After $0.77 actual EPS reported by Beacon Roofing Supply, Inc. for the previous quarter, Wall Street now forecasts 19.48% EPS growth.

Beacon Roofing Supply, Inc. (NASDAQ:BECN) Ratings Coverage

Out of 12 analysts covering Beacon Roofing Supply (NASDAQ:BECN), 8 rate it a “Buy”, 0 “Sell”, while 4 “Hold”. This means 67% are positive. Beacon Roofing Supply has been the topic of 18 analyst reports since July 28, 2015 according to StockzIntelligence Inc. The firm has “Equal-Weight” rating by Stephens given on Monday, November 30. The firm earned “Outperform” rating on Monday, April 11 by RBC Capital Markets. The stock of Beacon Roofing Supply, Inc. (NASDAQ:BECN) earned “Outperform” rating by Raymond James on Tuesday, July 28. The rating was initiated by Wedbush with “Neutral” on Wednesday, September 7. The company was upgraded on Thursday, January 21 by Longbow. The rating was maintained by RBC Capital Markets with “Sector Perform” on Monday, February 8. The stock has “Overweight” rating given by JP Morgan on Monday, October 26. On Tuesday, July 28 the stock rating was upgraded by Robert W. Baird to “Outperform”. RBC Capital Markets maintained Beacon Roofing Supply, Inc. (NASDAQ:BECN) on Monday, August 10 with “Sector Perform” rating. The firm has “Buy” rating by BB&T Capital given on Friday, June 10.

According to Zacks Investment Research, “Beacon Roofing Supply, Inc. is one of the largest distributors of residential and non-residential roofing materials in the United States and Canada. It also distributes other complementary exterior building products. It operate in several states and three Canadian provinces and is a leading distributor of roofing materials in key metropolitan markets in the Northeast, Mid-Atlantic, Southeast and Southwest regions of the United States and in Eastern Canada.”

Insitutional Activity: The institutional sentiment increased to 1.64 in 2016 Q2. Its up 0.56, from 1.08 in 2016Q1. The ratio improved, as 13 funds sold all Beacon Roofing Supply, Inc. shares owned while 65 reduced positions. 44 funds bought stakes while 84 increased positions. They now own 68.71 million shares or 11.86% more from 61.42 million shares in 2016Q1.
Arcadia Mgmt Mi owns 110,550 shares or 1.64% of their US portfolio. The New Jersey-based Princeton Alpha Mgmt Lp has invested 0.1% in Beacon Roofing Supply, Inc. (NASDAQ:BECN). Sg Capital Ltd Liability Corporation last reported 72,528 shares in the company. Henderson Gp Public Limited Company has 0.31% invested in the company for 820,055 shares. Visium Asset Lp last reported 11,879 shares in the company. Vanguard Group holds 0.01% of its portfolio in Beacon Roofing Supply, Inc. (NASDAQ:BECN) for 4.23M shares. Finance Architects last reported 0.01% of its portfolio in the stock. Barclays Public Ltd Com holds 0.01% of its portfolio in Beacon Roofing Supply, Inc. (NASDAQ:BECN) for 103,926 shares. Moreover, Wealthtrust has 0.01% invested in Beacon Roofing Supply, Inc. (NASDAQ:BECN) for 364 shares. Marshall Wace Llp accumulated 0.32% or 838,953 shares. Jpmorgan Chase And holds 0% of its portfolio in Beacon Roofing Supply, Inc. (NASDAQ:BECN) for 25,809 shares. Frontier Mgmt Com Lc accumulated 3.46M shares or 1.29% of the stock. Blackrock Japan has 1,314 shares for 0% of their US portfolio. Schroder Invest Mgmt Grp last reported 0.01% of its portfolio in the stock. Wells Fargo And Mn last reported 310,470 shares in the company.

Insider Transactions: Since May 20, 2016, the stock had 2 insider purchases, and 3 selling transactions for $362.91 million net activity. The insider MCLAUGHLIN ROBERT M bought 6,000 shares worth $274,740. ISABELLA PAUL had sold 45,000 shares worth $2.08M. Another trade for 8.54 million shares valued at $360.92 million was made by CD&R Associates VIII – Ltd. on Friday, May 20. BERQUIST CARL T bought 5,000 shares worth $224,050. The insider Cooper Ross D sold 8,403 shares worth $399,143.

More notable recent Beacon Roofing Supply, Inc. (NASDAQ:BECN) news were published by: Businesswire.com which released: “Beacon Roofing Supply Announces Acquisition of Portland, Oregon-based …” on June 01, 2016, also Businesswire.com with their article: “Beacon Roofing Supply Announces Acquisition of Omaha, Nebraska-Based RCI …” published on December 01, 2015, Businesswire.com published: “Beacon Roofing Supply, Inc. Announces Secondary Offering of 8536500 Shares of …” on May 16, 2016. More interesting news about Beacon Roofing Supply, Inc. (NASDAQ:BECN) were released by: Nasdaq.com and their article: “Beacon Roofing Supply Inc. Reports 64% Gain In Q3 Bottom Line” published on August 02, 2016 as well as Businesswire.com‘s news article titled: “Beacon Roofing Supply Announces Acquisition of Michigan-Based Fox Brothers Company” with publication date: May 02, 2016.

BECN Company Profile

Beacon Roofing Supply, Inc., incorporated on July 16, 1997, is a distributor of residential and non-residential roofing materials in the United States. The Firm operates in the wholesale distribution of building materials segment. The Firm distributes other complementary building materials, such as waterproofing systems for residential and non-residential building exteriors. It provides its clients an array of services, including advice and assistance to contractors throughout the construction process, including product identification, specification and technical support; job site delivery, rooftop loading and logistical services; tapered insulation design and layout services; metal fabrication and related metal roofing design and layout services; trade credit, and marketing support, including project leads for contractors. As of September 30, 2015, the Company operated approximately 270 branches in over 40 states in the United States and approximately six provinces in Canada.

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