Beacon Roofing Supply (BECN) Gets a Hold Rating from Evercore ISI

By Austin Angelo

In a report released yesterday, Stephen Kim from Evercore ISI maintained a Hold rating on Beacon Roofing Supply (BECNResearch Report), with a price target of $31. The company’s shares opened today at $27.74, close to its 52-week low of $24.97.

Kim observed:

“We note that if rainfall was relatively normal, then revenues would apparently have matched our outlook, but EPS would have still fallen short by ~$0.15. Along with earnings, BECN lowered its FY19 guidance for sales ($7.1-$7.2bn), EBITDA ($490-$510mm), and EPS ($2.30-$2.50; 4Q midpoint of $1.33).”

According to, Kim is ranked #299 out of 5229 analysts.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Beacon Roofing Supply with a $36 average price target, representing a 29.8% upside. In a report released yesterday, RBC Capital also assigned a Hold rating to the stock with a $34 price target.

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Based on Beacon Roofing Supply’s latest earnings release for the quarter ending March 31, the company reported a quarterly GAAP net loss of $68.09 million. In comparison, last year the company had a net profit of $43.97 million.

Based on the recent corporate insider activity of 31 insiders, corporate insider sentiment is neutral on the stock.

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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.