Beacon Roofing Supply’s (BECN) “Hold” Rating Reaffirmed at Loop Capital

Loop Capital reissued their hold rating on shares of Beacon Roofing Supply (NASDAQ:BECN) in a report issued on Friday morning,Benzinga reports. They currently have a $124.00 target price on the stock.

A number of other analysts have also issued reports on BECN. Stifel Nicolaus lowered Beacon Roofing Supply from a “buy” rating to a “hold” rating and cut their target price for the company from $131.00 to $122.55 in a research report on Friday, February 7th. StockNews.com assumed coverage on Beacon Roofing Supply in a research report on Monday, March 17th. They issued a “sell” rating on the stock. Zelman & Associates lowered Beacon Roofing Supply from a “strong-buy” rating to a “hold” rating in a research report on Thursday, January 16th. Benchmark restated a “buy” rating and issued a $140.00 price target on shares of Beacon Roofing Supply in a research note on Monday, March 3rd. Finally, BMO Capital Markets dropped 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 research note on Tuesday, March 4th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $120.95.

Beacon Roofing Supply Stock Down 0.0 %

BECN stock opened at $123.77 on Friday. The firm has a market cap of $7.62 billion, a PE ratio of 21.16 and a beta of 1.63. 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 firm’s 50 day moving average price is $117.35 and its 200-day moving average price is $104.46. Beacon Roofing Supply has a one year low of $77.54 and a one year high of $123.90.

Beacon Roofing Supply (NASDAQ:BECN) last announced 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). The firm had revenue of $2.40 billion during 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%. On average, equities research analysts anticipate that Beacon Roofing Supply will post 7.22 EPS for the current year.

Hedge Funds Weigh In On Beacon Roofing Supply

Institutional investors and hedge funds have recently modified their holdings of the company. SBI Securities Co. Ltd. acquired a new position in shares of Beacon Roofing Supply during the fourth quarter worth $31,000. Quarry LP grew its stake in shares of Beacon Roofing Supply by 180.7% during the third quarter. Quarry LP now owns 306 shares of the company’s stock worth $26,000 after purchasing an additional 197 shares in the last quarter. Harvest Fund Management Co. Ltd acquired a new position in shares of Beacon Roofing Supply during the third quarter worth $28,000. Johnson Financial Group Inc. purchased a new stake in Beacon Roofing Supply in the fourth quarter valued at $54,000. Finally, PNC Financial Services Group Inc. lifted its position in Beacon Roofing Supply by 38.1% in the fourth quarter. PNC Financial Services Group Inc. now owns 591 shares of the company’s stock valued at $60,000 after acquiring an additional 163 shares during the last quarter. Institutional investors and hedge funds own 98.45% of the company’s stock.

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.