Beacon Roofing Supply's (BECN) "Market Perform" Rating Reaffirmed at William Blair

Beacon Roofing Supply (NASDAQ:BECN - Get Free Report)'s stock had its "market perform" rating restated by analysts at William Blair in a research report issued to clients and investors on Thursday, MarketBeat Ratings reports.

A number of other brokerages have also commented on BECN. Benchmark reiterated a "buy" rating and issued a $140.00 price objective on shares of Beacon Roofing Supply in a research report on Monday, March 3rd. 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. Robert W. Baird increased their price objective on shares of Beacon Roofing Supply from $120.00 to $124.00 and gave the company an "outperform" rating in a report on Friday, February 28th. Stifel Nicolaus lowered shares of 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 report on Friday, February 7th. Finally, StockNews.com began coverage on Beacon Roofing Supply in a research note on Monday, March 17th. They issued a "sell" rating on the stock. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and five have issued a buy rating to the company's stock. Based on data from MarketBeat.com, Beacon Roofing Supply has a consensus rating of "Hold" and a consensus target price of $120.95.

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Beacon Roofing Supply Price Performance

Shares of BECN stock traded up $0.05 during trading hours on Thursday, reaching $123.82. 4,468,832 shares of the company were exchanged, compared to its average volume of 889,622. Beacon Roofing Supply has a fifty-two week low of $77.54 and a fifty-two week high of $124.60. The company has a debt-to-equity ratio of 1.60, a current ratio of 1.91 and a quick ratio of 1.14. The stock's fifty day moving average is $117.35 and its two-hundred day moving average is $104.73. The company has a market cap of $7.63 billion, a price-to-earnings ratio of 21.17 and a beta of 1.63.

Beacon Roofing Supply (NASDAQ:BECN - Get Free Report) last posted its quarterly earnings data on Thursday, February 27th. The company reported $1.65 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.66 by ($0.01). The firm had revenue of $2.40 billion for the quarter, compared to analyst estimates of $2.43 billion. Beacon Roofing Supply had a return on equity of 25.32% and a net margin of 3.86%. Sell-side analysts forecast that Beacon Roofing Supply will post 7.22 earnings per share for the current fiscal year.

Institutional Trading of Beacon Roofing Supply

Hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. raised its holdings in shares of Beacon Roofing Supply by 0.4% during the fourth quarter. Vanguard Group Inc. now owns 6,509,495 shares of the company's stock worth $661,235,000 after acquiring an additional 24,027 shares during the period. FMR LLC raised its stake in shares of Beacon Roofing Supply by 17.6% in 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 during the period. Boston Partners lifted its holdings in shares of Beacon Roofing Supply by 1.3% in the fourth quarter. Boston Partners now owns 4,531,106 shares of the company's stock valued at $462,417,000 after purchasing an additional 59,630 shares in the last quarter. Frontier Capital Management Co. LLC boosted 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 buying an additional 329,047 shares during the period. Finally, State Street Corp grew its holdings 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 in the last quarter. 98.45% of the stock is currently owned by institutional investors and hedge funds.

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.