Beacon Roofing Supply (NASDAQ:BECN) Now Covered by StockNews.com

StockNews.com started coverage on shares of Beacon Roofing Supply (NASDAQ:BECN - Get Free Report) in a research report issued on Sunday. The brokerage set a "sell" rating on the stock.

Several other research firms have also recently commented on BECN. Stifel Nicolaus cut Beacon Roofing Supply from a "buy" rating to a "hold" rating and reduced their target price for the company from $131.00 to $122.55 in a research note on Friday, February 7th. 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. BMO Capital Markets decreased their price objective on shares of Beacon Roofing Supply from $136.00 to $130.00 and set an "outperform" rating for the company in a report on Tuesday, March 4th. Stephens restated an "equal weight" rating and issued a $103.00 target price on shares of Beacon Roofing Supply in a research note on Tuesday, November 19th. Finally, JPMorgan Chase & Co. increased their price target on shares of Beacon Roofing Supply from $119.00 to $136.00 and gave the stock an "overweight" rating in a research report on Tuesday, November 19th. One analyst has rated the stock with a sell rating, four have given a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $119.95.

Remove Ads

Beacon Roofing Supply Stock Up 0.3 %

BECN stock traded up $0.33 during trading on Friday, reaching $118.85. The stock had a trading volume of 101,945 shares, compared to its average volume of 727,434. The company has a current ratio of 1.91, a quick ratio of 1.14 and a debt-to-equity ratio of 1.60. The firm has a fifty day moving average price of $113.67 and a 200 day moving average price of $102.50. The company has a market capitalization of $7.32 billion, a P/E ratio of 20.29 and a beta of 1.63. Beacon Roofing Supply has a 1-year low of $77.54 and a 1-year high of $121.42.

Beacon Roofing Supply (NASDAQ:BECN - Get Free Report) last announced 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 business had revenue of $2.40 billion for the quarter, compared to analysts' expectations of $2.43 billion. Beacon Roofing Supply had a return on equity of 25.32% and a net margin of 3.86%. On average, equities analysts anticipate that Beacon Roofing Supply will post 7.22 earnings per share for the current year.

Institutional Investors Weigh In On Beacon Roofing Supply

Several institutional investors and hedge funds have recently bought and sold shares of BECN. Quarry LP boosted 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 acquiring an additional 197 shares during the period. Harvest Fund Management Co. Ltd bought a new stake in shares of Beacon Roofing Supply in the 3rd quarter worth approximately $28,000. SBI Securities Co. Ltd. acquired a new position in Beacon Roofing Supply during the 4th quarter valued at approximately $31,000. Johnson Financial Group Inc. bought a new position in Beacon Roofing Supply during the 4th quarter worth $54,000. Finally, PNC Financial Services Group Inc. grew its position in shares of 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 acquiring an additional 163 shares during the last quarter. Institutional investors and hedge funds 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.