Beacon Roofing Supply (NASDAQ:BECN) Earns Sell Rating from Analysts at StockNews.com

StockNews.com started coverage on shares of Beacon Roofing Supply (NASDAQ:BECN) in a research report report published on Saturday morning. The firm issued a sell rating on the stock.

A number of other research firms have also commented on BECN. Stifel Nicolaus lowered shares of Beacon Roofing Supply from a “buy” rating to a “hold” rating and reduced their price objective for the company from $131.00 to $122.55 in a research note on Friday, February 7th. JPMorgan Chase & Co. raised their price objective on shares of Beacon Roofing Supply from $119.00 to $136.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 19th. Robert W. Baird boosted their target price on shares of Beacon Roofing Supply from $120.00 to $124.00 and gave the company an “outperform” rating in a research note on Friday. Stephens reaffirmed an “equal weight” rating and issued a $103.00 target price on shares of Beacon Roofing Supply in a research report on Tuesday, November 19th. Finally, Royal Bank of Canada lifted their price target on Beacon Roofing Supply from $113.00 to $114.00 and gave the company an “outperform” rating in a report on Friday, November 1st. One investment analyst has rated the stock with a sell rating, four have given a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $120.62.

Beacon Roofing Supply Trading Down 2.2 %

Beacon Roofing Supply stock opened at $112.91 on Friday. The firm has a market cap of $6.95 billion, a price-to-earnings ratio of 19.30 and a beta of 1.62. Beacon Roofing Supply has a 1 year low of $77.54 and a 1 year high of $121.42. The firm’s 50 day moving average price is $112.56 and its two-hundred day moving average price is $101.59. The company has a debt-to-equity ratio of 1.60, a quick ratio of 1.14 and a current ratio of 1.91.

Beacon Roofing Supply (NASDAQ:BECN) last issued its earnings results on Thursday, February 27th. The company reported $1.65 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.66 by ($0.01). Beacon Roofing Supply had a return on equity of 25.32% and a net margin of 3.86%. The company had revenue of $2.40 billion during the quarter, compared to analyst estimates of $2.43 billion. On average, research analysts predict that Beacon Roofing Supply will post 7.22 EPS for the current fiscal year.

Institutional Investors Weigh In On Beacon Roofing Supply

Several large investors have recently made changes to their positions in the company. Quarry LP lifted its stake in Beacon Roofing Supply by 180.7% in the third quarter. Quarry LP now owns 306 shares of the company’s stock valued at $26,000 after acquiring an additional 197 shares during the last quarter. Blue Trust Inc. raised its holdings in shares of Beacon Roofing Supply by 222.1% during the 3rd quarter. Blue Trust Inc. now owns 306 shares of the company’s stock valued at $28,000 after purchasing an additional 211 shares in the last quarter. Harvest Fund Management Co. Ltd acquired a new stake in shares of Beacon Roofing Supply in the 3rd quarter valued at $28,000. SBI Securities Co. Ltd. bought a new stake in Beacon Roofing Supply in the fourth quarter worth $31,000. Finally, Johnson Financial Group Inc. acquired a new position in Beacon Roofing Supply during the fourth quarter worth $54,000. Institutional investors own 98.45% of the company’s stock.

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.