BB&T Capital Upgrades Beacon Roofing Supply to Buy

Brokerage firm BB&T Capital Upgrades its rating on Beacon Roofing Supply(NASDAQ:BECN). The shares have been rated Buy. Previously, the analysts had a Hold rating on the shares. The rating by BB&T Capital was issued on Jun 10, 2016.

Beacon Roofing Supply (BECN) shares turned negative on Wednesdays trading session with the shares closing down -0.6 points or -1.40% at a volume of 5,00,716. The pessimistic mood was evident in the company shares which never went considerably beyond the level of $43.02. The peak price level was also seen at $43.02 while the days lowest was $42.1772. Finally the shares closed at $42.22. The 52-week high of the shares is $45.7167 while the 52-week low is $29.88. According to the latest information available, the market cap of the company is $2,515 M.

Beacon Roofing Supply(BECN) last announced its earnings results on May 2, 2016 for Fiscal Year 2016 and Q2.Company reported revenue of $823.54M. Analysts had an estimated revenue of $673.38M. Earnings per share were $0.03. Analysts had estimated an EPS of $-0.22.

Several Insider Transactions has been reported to the SEC. On Feb 10, 2016, Wilson B Sexton (director) sold 7,385 shares at $37.29 per share price.Also, On Dec 28, 2015, James J Gaffney (director) sold 11,250 shares at $42.03 per share price.On Sep 18, 2015, Stuart A Randle (director) sold 16,000 shares at $36.37 per share price, according to the Form-4 filing with the securities and exchange commission.

Beacon Roofing Supply Inc. is engaged in distributing residential and non-residential roofing materials in the United States and Canada. The Company also distributes other complementary building materials including siding windows specialty lumber products and waterproofing systems for residential and nonresidential building exteriors. As of September 30 2013 the Company operated 236 branches in 39 states and six Canadian provinces carrying up to 11000 stock keeping units (SKUs). It is a distributor of roofing materials in metropolitan markets in the Northeast Mid-Atlantic Midwest Central Plains West South and Southwest regions of the United States and across Canada. The Company’s customer base consists of more than 47000 contractors home builders building owners and other resellers primarily in the Northeast Mid-Atlantic Midwest Central Plains West South and Southwest regions of the United States and across Canada.

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