Beacon Roofing Supply (NASDAQ:BECN) Research Coverage Started at StockNews.com

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

A number of other equities research analysts have also weighed in on the company. BMO Capital Markets decreased their target price on Beacon Roofing Supply from $136.00 to $130.00 and set an “outperform” rating for the company in a research report on Tuesday, March 4th. Stephens reaffirmed an “equal weight” rating and set a $103.00 target price on shares of Beacon Roofing Supply in a research report on Tuesday, November 19th. Benchmark reiterated a “buy” rating and set a $140.00 price target on shares of Beacon Roofing Supply in a research note on Monday, March 3rd. Stifel Nicolaus downgraded Beacon Roofing Supply from a “buy” rating to a “hold” rating and lowered their target price for the stock from $131.00 to $122.55 in a research note on Friday, February 7th. Finally, Robert W. Baird upped their target price on Beacon Roofing Supply from $120.00 to $124.00 and gave the stock an “outperform” rating in a research note on Friday, February 28th. 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 company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $119.95.

Beacon Roofing Supply Price Performance

Shares of Beacon Roofing Supply stock opened at $119.15 on Friday. The stock has a 50 day moving average price of $114.05 and a 200-day moving average price of $102.72. Beacon Roofing Supply has a one year low of $77.54 and a one year high of $121.42. 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 $7.34 billion, a price-to-earnings ratio of 20.37 and a beta of 1.63.

Beacon Roofing Supply (NASDAQ:BECN) last posted its quarterly earnings data 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). The business had revenue of $2.40 billion for the quarter, compared to analysts’ expectations of $2.43 billion. Beacon Roofing Supply had a net margin of 3.86% and a return on equity of 25.32%. Equities analysts expect that Beacon Roofing Supply will post 7.22 EPS for the current year.

Institutional Investors Weigh In On Beacon Roofing Supply

Several hedge funds and other institutional investors have recently made changes to their positions in BECN. Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in shares of Beacon Roofing Supply during the fourth quarter worth $3,184,000. Polar Asset Management Partners Inc. acquired a new stake in shares of Beacon Roofing Supply during the fourth quarter worth about $4,510,000. Forum Financial Management LP acquired a new position in Beacon Roofing Supply in the 4th quarter valued at about $224,000. Amiral Gestion purchased a new stake in Beacon Roofing Supply in the 4th quarter valued at approximately $1,478,000. Finally, Public Employees Retirement System of Ohio purchased a new stake in Beacon Roofing Supply in the 4th quarter valued at approximately $9,873,000. Institutional investors and hedge funds 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.