SunTrust Robinson Reaffirms Their Buy Rating on Beacon Roofing Supply (BECN)


In a report released yesterday, Keith Hughes from SunTrust Robinson reiterated a Buy rating on Beacon Roofing Supply (NASDAQ: BECN), with a price target of $52. The company’s shares closed yesterday at $42.48, close to its 52-week low of $38.71.

According to TipRanks.com, Hughes is a 5-star analyst with an average return of 21.4% and a 70.4% success rate. Hughes covers the Industrial Goods sector, focusing on stocks such as Continental Building Products, Installed Building Products, and Armstrong Ind.

Currently, the analyst consensus on Beacon Roofing Supply is a Moderate Buy with an average price target of $54.70, representing a 28.8% upside. In a report released yesterday, 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 16 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.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

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.

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