Beacon Roofing Supply, Inc. (NASDAQ:BECN) Receives Average Rating of "Hold" from Brokerages

Shares of Beacon Roofing Supply, Inc. (NASDAQ:BECN - Get Free Report) have been given a consensus recommendation of "Hold" by the thirteen research firms that are presently covering the firm, MarketBeat Ratings reports. Nine equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The average 1-year price objective among brokers that have issued ratings on the stock in the last year is $122.10.

Several analysts have commented on the company. StockNews.com began coverage on Beacon Roofing Supply in a research note on Thursday, April 10th. They set a "sell" rating on the stock. BMO Capital Markets cut their price objective on 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. Zelman & Associates cut Beacon Roofing Supply from a "strong-buy" rating to a "hold" rating in a report on Thursday, January 16th. Baird R W downgraded shares of Beacon Roofing Supply from a "strong-buy" rating to a "hold" rating in a report on Thursday, March 20th. Finally, Loop Capital reissued a "hold" rating and issued a $124.00 target price on shares of Beacon Roofing Supply in a report on Friday, March 21st.

Insider Buying and Selling

In other news, insider Clement Munroe Best III sold 29,724 shares of the company's stock in a transaction dated Friday, April 4th. The shares were sold at an average price of $123.05, for a total transaction of $3,657,538.20. Following the transaction, the insider now owns 87,943 shares in the company, valued at $10,821,386.15. This represents a 25.26 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Jonathan Stuart Bennett sold 8,487 shares of the business's stock in a transaction that occurred on Monday, April 7th. The stock was sold at an average price of $122.14, for a total transaction of $1,036,602.18. Following the sale, the insider now directly owns 22,642 shares in the company, valued at approximately $2,765,493.88. This represents a 27.26 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 54,806 shares of company stock worth $6,745,448 in the last three months. 1.30% of the stock is owned by insiders.

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Institutional Investors Weigh In On Beacon Roofing Supply

A number of large investors have recently made changes to their positions in the stock. SBI Securities Co. Ltd. acquired a new position in Beacon Roofing Supply during the fourth quarter worth $31,000. Quarry LP boosted its position in 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 acquiring an additional 197 shares during the last quarter. Versant Capital Management Inc grew its stake in Beacon Roofing Supply by 133.7% during the 1st quarter. Versant Capital Management Inc now owns 388 shares of the company's stock valued at $48,000 after acquiring an additional 222 shares in the last quarter. Johnson Financial Group Inc. acquired a new stake in Beacon Roofing Supply in the 4th quarter valued at about $54,000. Finally, PNC Financial Services Group Inc. raised its holdings in Beacon Roofing Supply by 38.1% in the 4th 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. 98.45% of the stock is owned by hedge funds and other institutional investors.

Beacon Roofing Supply Stock Down 0.2 %

Shares of BECN stock traded down $0.25 during mid-day trading on Friday, reaching $123.13. 1,825,818 shares of the company's stock traded hands, compared to its average volume of 1,112,827. The company has a market cap of $7.61 billion, a P/E ratio of 21.05 and a beta of 1.31. The company has a quick ratio of 1.14, a current ratio of 1.91 and a debt-to-equity ratio of 1.60. Beacon Roofing Supply has a 12 month low of $77.54 and a 12 month high of $123.90. The company's 50-day moving average price is $119.80 and its 200-day moving average price is $109.50.

Beacon Roofing Supply (NASDAQ:BECN - Get Free Report) last announced 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). Beacon Roofing Supply had a net margin of 3.86% and a return on equity of 25.32%. The company had revenue of $2.40 billion for the quarter, compared to analysts' expectations of $2.43 billion. On average, equities analysts expect that Beacon Roofing Supply will post 7.22 earnings per share for the current fiscal year.

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.