Beacon Roofing Supply (NASDAQ:BECN) Now Covered by StockNews.com

StockNews.com began coverage on shares of Beacon Roofing Supply (NASDAQ:BECN) in a research report sent to investors on Wednesday. The brokerage issued a sell rating on the stock.

Other equities research analysts also recently issued reports about the company. Benchmark restated a “buy” rating and issued a $140.00 target price on shares of Beacon Roofing Supply in a research report on Monday, March 3rd. Zelman & Associates lowered shares of Beacon Roofing Supply from a “strong-buy” rating to a “hold” rating in a research report on Thursday, January 16th. Raymond James downgraded shares of Beacon Roofing Supply from a “moderate buy” rating to a “hold” rating in a report on Friday, March 21st. Robert W. Baird raised their target price on shares of Beacon Roofing Supply from $120.00 to $124.00 and gave the stock an “outperform” rating in a report on Friday, February 28th. Finally, Stifel Nicolaus cut Beacon Roofing Supply from a “buy” rating to a “hold” rating and dropped their price target for the company from $131.00 to $122.55 in a report on Friday, February 7th. One analyst has rated the stock with a sell rating, nine have issued a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $122.10.

Beacon Roofing Supply Trading Up 0.0 %

NASDAQ:BECN opened at $123.80 on Wednesday. Beacon Roofing Supply has a 1 year low of $77.54 and a 1 year high of $123.90. The business has a fifty day moving average of $118.95 and a 200-day moving average of $106.93. 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 stock has a market cap of $7.62 billion, a price-to-earnings ratio of 21.16 and a beta of 1.63.

Beacon Roofing Supply (NASDAQ:BECN) last released its 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 for the quarter, compared to analyst estimates of $2.43 billion. Beacon Roofing Supply had a net margin of 3.86% and a return on equity of 25.32%. Equities analysts predict that Beacon Roofing Supply will post 7.22 earnings per share for the current year.

Institutional Investors Weigh In On Beacon Roofing Supply

Hedge funds have recently bought and sold shares of the business. SBI Securities Co. Ltd. acquired a new position in shares of Beacon Roofing Supply in the 4th quarter valued at about $31,000. Quarry LP increased its stake in Beacon Roofing Supply by 180.7% in the 3rd quarter. Quarry LP now owns 306 shares of the company’s stock valued at $26,000 after buying an additional 197 shares during the period. Johnson Financial Group Inc. purchased a new stake in Beacon Roofing Supply in the 4th quarter worth approximately $54,000. PNC Financial Services Group Inc. boosted its stake in shares of Beacon Roofing Supply by 38.1% during the 4th quarter. PNC Financial Services Group Inc. now owns 591 shares of the company’s stock valued at $60,000 after buying an additional 163 shares during the period. Finally, Nomura Asset Management Co. Ltd. grew its holdings in shares of Beacon Roofing Supply by 26.3% during the 4th quarter. Nomura Asset Management Co. Ltd. now owns 720 shares of the company’s stock valued at $73,000 after acquiring an additional 150 shares in the last quarter. 98.45% of the stock is 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.