Beacon Roofing Supply Receives a New Rating from Top Analyst

By Austin Angelo

Jefferies analyst Philip Ng reiterated a Hold rating on Beacon Roofing Supply (NASDAQ: BECN) yesterday and set a price target of $46. The company’s shares closed yesterday at $45.36.

Ng observed:

“BECN reported a 4Q miss as top-line growth came in below expectations due to hot weather in August and a disappointing decline in organic commercial sales. Additionally, FY17 EBITDA guidance is below expectations, but seems conservative with margins likely surprising to the upside.”

According to, Ng is a top 100 analyst with an average return of 14.1% and a 76.1% success rate. Ng covers the Consumer Goods sector, focusing on stocks such as Orchids Paper Products Company, Graphic Packaging, and Sonoco Products.

Beacon Roofing Supply has an analyst consensus of Moderate Buy, with a price target consensus of $50.67.

Based on Beacon Roofing Supply’s latest earnings report for the quarter ending September 30, the company posted quarterly revenue of $1.17 billion and quarterly net profit of $47.39 million. In comparison, last year the company earned revenue of $788 million and had a net profit of $30.81 million.

Based on the recent corporate insider activity of 9 insiders, corporate insider sentiment is negative on the stock.

Beacon Roofing Supply, Inc. engages in the distribution of residential and non-residential roofing materials in the United States and Canada. It also distributes other building materials, including siding, windows and specialty lumber products and waterproofing systems for residential and nonresidential building exteriors. It operates through Wholesale Distribution of Building Materials segment, which is the dominant distribution channel for both residential and nonresidential roofing products. The company was founded on August 22, 1997 and is headquartered in Peabody, MA.