Beacon Roofing Supply (NASDAQ:BECN) Reaches New 52-Week High - Still a Buy?

Beacon Roofing Supply, Inc. (NASDAQ:BECN - Get Free Report)'s stock price hit a new 52-week high during mid-day trading on Thursday . The stock traded as high as $123.90 and last traded at $123.85, with a volume of 256153 shares traded. The stock had previously closed at $123.84.

Analysts Set New Price Targets

A number of research analysts have commented on BECN shares. Benchmark restated a "buy" rating and issued a $140.00 target price on shares of Beacon Roofing Supply in a research note on Monday, March 3rd. Raymond James cut Beacon Roofing Supply from a "moderate buy" rating to a "hold" rating in a research note on Friday, March 21st. Stifel Nicolaus downgraded shares of Beacon Roofing Supply from a "buy" rating to a "hold" rating and cut their price target for the company from $131.00 to $122.55 in a report on Friday, February 7th. StockNews.com initiated coverage on Beacon Roofing Supply in a research report on Tuesday, March 25th. They issued a "sell" rating for the company. Finally, BMO Capital Markets lowered their price objective on Beacon Roofing Supply from $136.00 to $130.00 and set an "outperform" rating on the stock in a report on Tuesday, March 4th. One analyst has rated the stock with a sell rating, eight have given a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $120.95.

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Beacon Roofing Supply Stock Down 0.0 %

The firm's 50-day simple moving average is $118.50 and its 200-day simple moving average is $106.05. The company has a market capitalization of $7.62 billion, a price-to-earnings ratio of 21.16 and a beta of 1.63. The company has a debt-to-equity ratio of 1.60, a quick ratio of 1.14 and a current ratio of 1.91.

Beacon Roofing Supply (NASDAQ:BECN - Get Free Report) last released its earnings results on Thursday, February 27th. The company reported $1.65 earnings per share for the quarter, missing analysts' consensus estimates 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, Inc. will post 7.22 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Charles Schwab Investment Management Inc. lifted its holdings in shares of Beacon Roofing Supply by 0.9% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 603,748 shares of the company's stock worth $52,182,000 after acquiring an additional 5,497 shares during the period. BNP Paribas Financial Markets raised its position in Beacon Roofing Supply by 23.0% in the third quarter. BNP Paribas Financial Markets now owns 42,441 shares of the company's stock worth $3,668,000 after purchasing an additional 7,924 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its position in Beacon Roofing Supply by 14.3% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 14,605 shares of the company's stock worth $1,262,000 after purchasing an additional 1,828 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in Beacon Roofing Supply by 0.5% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 135,473 shares of the company's stock worth $11,709,000 after purchasing an additional 647 shares during the period. Finally, PEAK6 Investments LLC boosted its holdings in Beacon Roofing Supply by 88.6% during the third quarter. PEAK6 Investments LLC now owns 6,655 shares of the company's stock valued at $575,000 after purchasing an additional 3,127 shares in 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.