StockNews.com started coverage on shares of Beacon Roofing Supply (NASDAQ:BECN - Free Report) in a research report report published on Wednesday morning. The brokerage issued a sell rating on the stock.
BECN has been the subject of a number of other reports. Robert W. Baird boosted their target price on shares of Beacon Roofing Supply from $120.00 to $124.00 and gave the company an "outperform" rating in a research note on Friday, February 28th. Stifel Nicolaus lowered shares of Beacon Roofing Supply from a "buy" rating to a "hold" rating and decreased their price objective for the company from $131.00 to $122.55 in a report on Friday, February 7th. Raymond James downgraded shares of Beacon Roofing Supply from a "moderate buy" rating to a "hold" rating in a research note on Friday, March 21st. Zelman & Associates downgraded shares of Beacon Roofing Supply from a "strong-buy" rating to a "hold" rating in a research note on Thursday, January 16th. Finally, Baird R W lowered Beacon Roofing Supply from a "strong-buy" rating to a "hold" rating in a report on Thursday, March 20th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and four have assigned a buy rating to the company's stock. According to MarketBeat, Beacon Roofing Supply presently has a consensus rating of "Hold" and a consensus target price of $122.10.
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Beacon Roofing Supply Trading Down 1.0 %
NASDAQ:BECN traded down $1.21 during mid-day trading on Wednesday, hitting $122.43. 7,913,784 shares of the stock traded hands, compared to its average volume of 1,048,338. The company has a quick ratio of 1.14, a current ratio of 1.91 and a debt-to-equity ratio of 1.60. The stock has a market capitalization of $7.56 billion, a price-to-earnings ratio of 20.93 and a beta of 1.31. Beacon Roofing Supply has a 52 week low of $77.54 and a 52 week high of $123.90. The firm's 50 day moving average is $119.09 and its two-hundred day moving average is $107.05.
Beacon Roofing Supply (NASDAQ:BECN - Get Free Report) last issued its quarterly earnings results on Thursday, February 27th. The company reported $1.65 earnings per share for the quarter, missing the consensus estimate of $1.66 by ($0.01). Beacon Roofing Supply had a return on equity of 25.32% and a net margin of 3.86%. The business had revenue of $2.40 billion during the quarter, compared to analysts' expectations of $2.43 billion. On average, equities research analysts predict that Beacon Roofing Supply will post 7.22 earnings per share for the current year.
Institutional Inflows and Outflows
Several large investors have recently made changes to their positions in the stock. Quarry LP grew its stake in Beacon Roofing Supply by 180.7% in the third quarter. Quarry LP now owns 306 shares of the company's stock valued at $26,000 after purchasing an additional 197 shares during the last quarter. SBI Securities Co. Ltd. bought a new stake in shares of Beacon Roofing Supply in the 4th quarter valued at about $31,000. Versant Capital Management Inc grew its position in shares of Beacon Roofing Supply by 133.7% in the 1st quarter. Versant Capital Management Inc now owns 388 shares of the company's stock worth $48,000 after buying an additional 222 shares during the last quarter. Johnson Financial Group Inc. purchased a new position in shares of Beacon Roofing Supply in the 4th quarter worth approximately $54,000. Finally, PNC Financial Services Group Inc. raised its stake in shares of Beacon Roofing Supply by 38.1% during the 4th quarter. PNC Financial Services Group Inc. now owns 591 shares of the company's stock worth $60,000 after acquiring an additional 163 shares in the last quarter. 98.45% of the stock is owned by institutional investors.
Beacon Roofing Supply Company Profile
(
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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.
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