Beacon Roofing Supply (NASDAQ:BECN) Coverage Initiated at StockNews.com

StockNews.com initiated coverage on shares of Beacon Roofing Supply (NASDAQ:BECN - Free Report) in a research note issued to investors on Friday morning. The brokerage issued a sell rating on the stock.

Several other analysts also recently weighed in on BECN. Royal Bank of Canada boosted their price target on shares of Beacon Roofing Supply from $113.00 to $114.00 and gave the stock an "outperform" rating in a research note on Friday, November 1st. Stephens restated an "equal weight" rating and set a $103.00 price target on shares of Beacon Roofing Supply in a research report on Tuesday, November 19th. Zelman & Associates cut Beacon Roofing Supply from a "strong-buy" rating to a "hold" rating in a research note on Thursday, January 16th. Benchmark restated a "buy" rating and issued a $140.00 target price on shares of Beacon Roofing Supply in a report on Friday, November 1st. Finally, Stifel Nicolaus lowered shares of Beacon Roofing Supply from a "buy" rating to a "hold" rating and dropped their target price for the stock from $131.00 to $122.55 in a report on Friday, February 7th. One analyst has rated the stock with a sell rating, four have given a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $120.17.

Beacon Roofing Supply Stock Performance

BECN stock traded down $2.96 during midday trading on Friday, reaching $116.62. 1,030,382 shares of the company's stock traded hands, compared to its average volume of 1,000,667. 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 has a 52 week low of $77.54 and a 52 week high of $121.42. The firm has a market capitalization of $7.18 billion, a PE ratio of 19.93 and a beta of 1.62. The company has a 50-day moving average price of $111.09 and a two-hundred day moving average price of $100.00.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of BECN. Quarry LP raised its holdings in shares of Beacon Roofing Supply by 180.7% in the 3rd quarter. Quarry LP now owns 306 shares of the company's stock valued at $26,000 after purchasing an additional 197 shares in the last quarter. Blue Trust Inc. increased its holdings in shares of Beacon Roofing Supply by 222.1% in the 3rd quarter. Blue Trust Inc. now owns 306 shares of the company's stock valued at $28,000 after acquiring an additional 211 shares during the period. Harvest Fund Management Co. Ltd bought a new position in shares of Beacon Roofing Supply in the 3rd quarter worth $28,000. SBI Securities Co. Ltd. purchased a new stake in shares of Beacon Roofing Supply during the fourth quarter valued at about $31,000. Finally, Johnson Financial Group Inc. purchased a new position in shares of Beacon Roofing Supply in the 4th quarter worth approximately $54,000. Hedge funds and other institutional investors own 98.45% of the company's stock.

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.