StockNews.com Begins Coverage on Beacon Roofing Supply (NASDAQ:BECN)

Equities research analysts at StockNews.com initiated coverage on shares of Beacon Roofing Supply (NASDAQ:BECN) in a report released on Tuesday. The brokerage set a “sell” rating on the stock.

A number of other analysts also recently issued reports on the company. Baird R W downgraded Beacon Roofing Supply from a “strong-buy” rating to a “hold” rating in a research note on Thursday, March 20th. William Blair reaffirmed a “market perform” rating on shares of Beacon Roofing Supply in a research note on Thursday, March 20th. Benchmark reissued a “buy” rating and issued a $140.00 price objective on shares of Beacon Roofing Supply in a research note on Monday, March 3rd. Zelman & Associates downgraded shares of Beacon Roofing Supply from a “strong-buy” rating to a “hold” rating in a report on Thursday, January 16th. Finally, BMO Capital Markets lowered their price target on shares of Beacon Roofing Supply from $136.00 to $130.00 and set an “outperform” rating for the company in a report on Tuesday, March 4th. One analyst has rated the stock with a sell rating, eight have given a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $120.95.

Beacon Roofing Supply Price Performance

BECN stock opened at $123.84 on Tuesday. The company has a debt-to-equity ratio of 1.60, a quick ratio of 1.14 and a current ratio of 1.91. The company’s fifty day moving average price is $118.02 and its 200-day moving average price is $105.31. Beacon Roofing Supply has a one year low of $77.54 and a one year high of $123.90. The company has a market capitalization of $7.63 billion, a PE ratio of 21.17 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 EPS for the quarter, missing the consensus estimate of $1.66 by ($0.01). The company had revenue of $2.40 billion during the quarter, compared to analysts’ expectations of $2.43 billion. Beacon Roofing Supply had a return on equity of 25.32% and a net margin of 3.86%. On average, equities analysts anticipate that Beacon Roofing Supply will post 7.22 EPS for the current fiscal year.

Institutional Investors Weigh In On Beacon Roofing Supply

Hedge funds and other institutional investors have recently modified their holdings of the business. Universal Beteiligungs und Servicegesellschaft mbH bought a new position in Beacon Roofing Supply in the 4th quarter valued at $3,184,000. Polar Asset Management Partners Inc. bought a new position in shares of Beacon Roofing Supply in the fourth quarter worth about $4,510,000. Forum Financial Management LP bought a new position in shares of Beacon Roofing Supply in the fourth quarter worth about $224,000. Amiral Gestion purchased a new position in Beacon Roofing Supply in the 4th quarter worth about $1,478,000. Finally, Public Employees Retirement System of Ohio bought a new stake in Beacon Roofing Supply during the 4th quarter valued at about $9,873,000. 98.45% of the stock is currently owned by hedge funds and other institutional investors.

About Beacon Roofing Supply

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.