Beacon Roofing Supply (NASDAQ:BECN) Hits New 1-Year High - Still a Buy?

Beacon Roofing Supply, Inc. (NASDAQ:BECN - Get Free Report)'s stock price reached a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $124.02 and last traded at $123.93, with a volume of 1621406 shares. The stock had previously closed at $123.65.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on BECN shares. Baird R W cut Beacon Roofing Supply from a "strong-buy" rating to a "hold" rating in a research note on Thursday, March 20th. Raymond James downgraded shares of Beacon Roofing Supply from a "moderate buy" rating to a "hold" rating in a research report on Friday, March 21st. Royal Bank of Canada cut shares of Beacon Roofing Supply from an "outperform" rating to a "sector perform" rating and boosted their price target for the company from $124.00 to $124.35 in a research report on Wednesday, April 2nd. BMO Capital Markets reaffirmed a "market perform" rating and set a $124.35 price objective (down previously from $130.00) on shares of Beacon Roofing Supply in a report on Thursday, April 17th. Finally, William Blair reaffirmed a "market perform" rating on shares of Beacon Roofing Supply in a research note on Thursday, March 20th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and three have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, Beacon Roofing Supply presently has an average rating of "Hold" and an average target price of $121.47.

Beacon Roofing Supply Stock Up 0.1 %

The firm's 50-day simple moving average is $120.59 and its 200 day simple moving average is $111.38. The company has a debt-to-equity ratio of 1.60, a quick ratio of 1.14 and a current ratio of 1.91. The company has a market capitalization of $7.67 billion, a PE ratio of 21.23 and a beta of 1.31.

Beacon Roofing Supply (NASDAQ:BECN - Get Free Report) last issued its earnings results 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). The company had revenue of $2.40 billion during the quarter, compared to analysts' expectations of $2.43 billion. Beacon Roofing Supply had a net margin of 3.86% and a return on equity of 25.32%. As a group, equities research analysts forecast that Beacon Roofing Supply, Inc. will post 7.22 earnings per share for the current year.

Insider Buying and Selling

In related news, EVP Christopher Carl Nelson sold 16,595 shares of Beacon Roofing Supply stock in a transaction that occurred on Thursday, April 3rd. The stock was sold at an average price of $123.61, for a total transaction of $2,051,307.95. Following the completion of the transaction, the executive vice president now directly owns 463 shares in the company, valued at $57,231.43. The trade was a 97.29 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Clement Munroe Best III sold 29,724 shares of the company's stock in a transaction that occurred on Friday, April 4th. The shares were sold at an average price of $123.05, for a total value of $3,657,538.20. Following the completion of the sale, the insider now directly owns 87,943 shares in the company, valued at approximately $10,821,386.15. The trade was a 25.26 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 54,806 shares of company stock valued at $6,745,448. 1.30% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. SBI Securities Co. Ltd. purchased a new stake in shares of Beacon Roofing Supply during the fourth quarter worth about $31,000. Versant Capital Management Inc grew its stake in 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 acquiring an additional 222 shares during the period. Johnson Financial Group Inc. acquired a new position in Beacon Roofing Supply in the 4th quarter valued at $54,000. PNC Financial Services Group Inc. lifted 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 worth $60,000 after buying an additional 163 shares during the period. Finally, Nomura Asset Management Co. Ltd. increased its stake in shares of Beacon Roofing Supply by 26.3% during the 4th quarter. Nomura Asset Management Co. Ltd. now owns 720 shares of the company's stock valued at $73,000 after acquiring an additional 150 shares during the last quarter. Institutional investors and hedge funds own 98.45% of the company's stock.

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.