Seaport Global analyst Matt S McCall reiterated a Buy rating on Beacon Roofing Supply (NASDAQ: BECN) on August 10 and set a price target of $52. The company’s shares closed on Friday at $36.98, close to its 52-week low of $35.41.
According to TipRanks.com, McCall is a 3-star analyst with an average return of 6.5% and a 47.5% success rate. McCall covers the Industrial Goods sector, focusing on stocks such as Installed Building Products, BMC Stock Holdings, and NCI Building.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Beacon Roofing Supply with a $51 average price target, implying a 37.9% upside from current levels. In a report issued on August 7, Robert W. Baird also reiterated a Buy rating on the stock with a $55 price target.
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Based on Beacon Roofing Supply’s latest earnings release for the quarter ending June 30, the company reported a quarterly net profit of $43.97 million. In comparison, last year the company had a net profit of $44.66 million.
Based on the recent corporate insider activity of 17 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of BECN in relation to earlier this year.
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Beacon Roofing Supply, Inc. engages in the distribution of residential and non-residential roofing materials. It also distributes complementary building products including siding, windows, specialty exterior building products, insulation, and waterproofing systems for building exteriors.
