Beacon Roofing Supply (NASDAQ:BECN) Sets New 12-Month High - Still a Buy?

Beacon Roofing Supply, Inc. (NASDAQ:BECN - Get Free Report)'s share price hit a new 52-week high during trading on Tuesday . The company traded as high as $122.22 and last traded at $121.54, with a volume of 947327 shares traded. The stock had previously closed at $119.90.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the company. BMO Capital Markets decreased their price target on Beacon Roofing Supply from $136.00 to $130.00 and set an "outperform" rating on the stock in a research note on Tuesday, March 4th. William Blair reissued a "market perform" rating on shares of Beacon Roofing Supply in a research note on Thursday. Benchmark reissued a "buy" rating and set a $140.00 target price on shares of Beacon Roofing Supply in a research note on Monday, March 3rd. Zelman & Associates cut Beacon Roofing Supply from a "strong-buy" rating to a "hold" rating in a research note on Thursday, January 16th. Finally, Loop Capital reissued a "hold" rating and set a $124.00 target price on shares of Beacon Roofing Supply in a research note on Friday. One research analyst has rated the stock with a sell rating, seven have given a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, Beacon Roofing Supply has a consensus rating of "Hold" and a consensus price target of $120.95.

Beacon Roofing Supply Stock Down 0.0 %

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 company has a market capitalization of $7.62 billion, a P/E ratio of 21.16 and a beta of 1.63. The company has a 50-day moving average of $117.35 and a two-hundred day moving average of $104.46.

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Beacon Roofing Supply (NASDAQ:BECN - Get Free Report) last released its earnings results on Thursday, February 27th. The company reported $1.65 EPS 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 company had revenue of $2.40 billion during the quarter, compared to the consensus estimate of $2.43 billion. On average, research analysts predict that Beacon Roofing Supply, Inc. will post 7.22 EPS for the current year.

Institutional Investors Weigh In On Beacon Roofing Supply

Hedge funds have recently added to or reduced their stakes in the stock. Equitable Trust Co. lifted its holdings in shares of Beacon Roofing Supply by 1.7% during the fourth quarter. Equitable Trust Co. now owns 7,228 shares of the company's stock valued at $734,000 after purchasing an additional 122 shares in the last quarter. Nomura Asset Management Co. Ltd. lifted its holdings in shares of Beacon Roofing Supply by 26.3% during the fourth quarter. Nomura Asset Management Co. Ltd. now owns 720 shares of the company's stock valued at $73,000 after purchasing an additional 150 shares in the last quarter. PNC Financial Services Group Inc. increased its position in Beacon Roofing Supply by 38.1% during 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. Cornerstone Investment Partners LLC increased its position in Beacon Roofing Supply by 3.6% during the fourth quarter. Cornerstone Investment Partners LLC now owns 4,730 shares of the company's stock valued at $480,000 after acquiring an additional 166 shares during the last quarter. Finally, HighTower Advisors LLC increased its position in Beacon Roofing Supply by 7.3% during the third quarter. HighTower Advisors LLC now owns 2,665 shares of the company's stock valued at $234,000 after acquiring an additional 181 shares during the last quarter. 98.45% of the stock is owned by institutional investors.

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.