Beacon Roofing Supply, Inc. (NASDAQ:BECN) Given Consensus Recommendation of "Moderate Buy" by Brokerages

Beacon Roofing Supply, Inc. (NASDAQ:BECN - Get Free Report) has been given an average rating of "Moderate Buy" by the ten research firms that are currently covering the firm, MarketBeat.com reports. Four investment analysts have rated the stock with a hold rating and six have issued a buy rating on the company. The average 1 year price objective among analysts that have updated their coverage on the stock in the last year is $120.17.

Several brokerages have recently issued reports on BECN. Benchmark reissued a "buy" rating and issued a $140.00 price objective on shares of Beacon Roofing Supply in a report on Friday, November 1st. StockNews.com initiated coverage on shares of Beacon Roofing Supply in a research note on Friday. They issued a "sell" rating for the company. Stephens restated an "equal weight" rating and set a $103.00 price target on shares of Beacon Roofing Supply in a research report on Tuesday, November 19th. Zelman & Associates downgraded shares of Beacon Roofing Supply from a "strong-buy" rating to a "hold" rating in a research report on Thursday, January 16th. Finally, Royal Bank of Canada raised their target price on shares of Beacon Roofing Supply from $113.00 to $114.00 and gave the stock an "outperform" rating in a research report on Friday, November 1st.

Institutional Investors Weigh In On Beacon Roofing Supply

A number of institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. lifted its position in shares of Beacon Roofing Supply by 0.4% during the 4th quarter. Vanguard Group Inc. now owns 6,509,495 shares of the company's stock worth $661,235,000 after purchasing an additional 24,027 shares during the last quarter. FMR LLC increased its holdings in Beacon Roofing Supply by 17.6% during the 3rd quarter. FMR LLC now owns 6,435,880 shares of the company's stock valued at $556,253,000 after purchasing an additional 963,633 shares in the last quarter. Boston Partners lifted its position in shares of Beacon Roofing Supply by 1.3% during the fourth quarter. Boston Partners now owns 4,531,106 shares of the company's stock worth $462,417,000 after purchasing an additional 59,630 shares in the last quarter. Frontier Capital Management Co. LLC raised its position in shares of Beacon Roofing Supply by 16.0% during the fourth quarter. Frontier Capital Management Co. LLC now owns 2,384,793 shares of the company's stock worth $242,247,000 after acquiring an additional 329,047 shares during the last quarter. Finally, State Street Corp raised its stake in shares of Beacon Roofing Supply by 1.1% during the third quarter. State Street Corp now owns 1,471,500 shares of the company's stock worth $127,182,000 after buying an additional 15,505 shares during the last quarter. Institutional investors and hedge funds own 98.45% of the company's stock.

Beacon Roofing Supply Stock Down 2.5 %

Shares of NASDAQ BECN traded down $2.96 during mid-day trading on Friday, reaching $116.62. 1,030,382 shares of the company were exchanged, compared to its average volume of 1,000,667. The firm has a 50-day moving average of $111.09 and a 200 day moving average of $100.00. 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 1 year low of $77.54 and a 1 year high of $121.42. The stock has a market cap of $7.18 billion, a price-to-earnings ratio of 19.93 and a beta of 1.62.

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.