Beacon Roofing Supply, Inc. (NASDAQ:BECN) Given Consensus Rating of “Hold” by Analysts

Shares of Beacon Roofing Supply, Inc. (NASDAQ:BECN) have earned an average rating of “Hold” from the twelve brokerages that are covering the company, MarketBeat Ratings reports. Seven research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The average twelve-month target price among brokerages that have issued a report on the stock in the last year is $120.95.

Several equities analysts recently commented on the company. William Blair restated a “market perform” rating on shares of Beacon Roofing Supply in a research report on Thursday. StockNews.com initiated coverage on shares of Beacon Roofing Supply in a research report on Monday, March 17th. They issued a “sell” rating on the stock. Stifel Nicolaus lowered shares of Beacon Roofing Supply from a “buy” rating to a “hold” rating and dropped their target price for the company from $131.00 to $122.55 in a research report on Friday, February 7th. Robert W. Baird boosted their price target on shares of Beacon Roofing Supply from $120.00 to $124.00 and gave the stock an “outperform” rating in a research note on Friday, February 28th. Finally, Zelman & Associates cut shares of Beacon Roofing Supply from a “strong-buy” rating to a “hold” rating in a research report on Thursday, January 16th.

Institutional Trading of Beacon Roofing Supply

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Charles Schwab Investment Management Inc. raised its holdings in Beacon Roofing Supply by 1.9% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 615,174 shares of the company’s stock worth $62,489,000 after purchasing an additional 11,426 shares in the last quarter. Intech Investment Management LLC purchased a new position in shares of Beacon Roofing Supply during the third quarter valued at about $1,441,000. Raymond James Financial Inc. bought a new position in Beacon Roofing Supply in the fourth quarter worth about $24,162,000. Barclays PLC lifted its holdings in Beacon Roofing Supply by 272.0% in the third quarter. Barclays PLC now owns 122,024 shares of the company’s stock worth $10,547,000 after buying an additional 89,222 shares during the period. Finally, Fisher Asset Management LLC boosted its position in Beacon Roofing Supply by 2.1% during the 4th quarter. Fisher Asset Management LLC now owns 1,014,087 shares of the company’s stock valued at $103,011,000 after acquiring an additional 20,372 shares in the last quarter. Hedge funds and other institutional investors own 98.45% of the company’s stock.

Beacon Roofing Supply Trading Down 0.0 %

NASDAQ:BECN opened at $123.77 on Tuesday. Beacon Roofing Supply has a 1 year low of $77.54 and a 1 year high of $123.90. The stock’s fifty day moving average price is $117.35 and its two-hundred day moving average price is $104.59. The company has a debt-to-equity ratio of 1.60, a current ratio of 1.91 and a quick ratio of 1.14. The company has a market cap of $7.62 billion, a P/E ratio of 21.16 and a beta of 1.63.

Beacon Roofing Supply (NASDAQ:BECN) last announced its quarterly earnings results on Thursday, February 27th. The company reported $1.65 earnings per share for the quarter, missing the consensus estimate of $1.66 by ($0.01). The company had revenue of $2.40 billion for the quarter, compared to the consensus estimate of $2.43 billion. Beacon Roofing Supply had a net margin of 3.86% and a return on equity of 25.32%. As a group, analysts expect that Beacon Roofing Supply will post 7.22 EPS for the current year.

Beacon Roofing Supply Company Profile

Beacon Roofing Supply, Inc, together with its subsidiaries, engages in the distribution of residential and non-residential roofing materials, and complementary building products to contractors, home builders, building owners, lumberyards, and retailers in the United States and Canada. The company offers pitched roofing and low slope roof products; gutters and sidings; building materials, such as lumber and composite, skylights and window, plywood and OSB, decking and railing, and HVAC products; and foam board, spray foam, roll, batt, mineral wool, fiberglass, and commercial insulation products, as well as radiant barriers and blown-in insulation and equipment.