StockNews.com started coverage on shares of Beacon Roofing Supply (NASDAQ:BECN - Get Free Report) in a research note issued on Tuesday. The brokerage set a "sell" rating on the stock.
Other equities analysts also recently issued research reports about the company. Stifel Nicolaus downgraded Beacon Roofing Supply from a "buy" rating to a "hold" rating and cut their target price for the stock from $131.00 to $122.55 in a research note on Friday, February 7th. Loop Capital reissued a "hold" rating and issued a $124.00 price objective on shares of Beacon Roofing Supply in a research report on Friday, March 21st. Robert W. Baird upped their price objective on Beacon Roofing Supply from $120.00 to $124.00 and gave the company an "outperform" rating in a research note on Friday, February 28th. BMO Capital Markets lowered their target price 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. Finally, William Blair restated a "market perform" rating on shares of Beacon Roofing Supply in a research report on Thursday, March 20th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and five have given a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $120.95.
View Our Latest Research Report on Beacon Roofing Supply
Beacon Roofing Supply Stock Down 0.0 %
Beacon Roofing Supply stock traded down $0.04 during trading on Tuesday, hitting $123.82. 4,139,511 shares of the company were exchanged, compared to its average volume of 952,574. The company has a market capitalization of $7.63 billion, a P/E ratio of 21.17 and a beta of 1.63. The business's 50 day moving average is $118.50 and its 200 day moving average is $105.87. Beacon Roofing Supply has a 52 week low of $77.54 and a 52 week high of $124.62. The company has a current ratio of 1.91, a quick ratio of 1.14 and a debt-to-equity ratio of 1.60.
Beacon Roofing Supply (NASDAQ:BECN - Get Free Report) last posted its earnings results on Thursday, February 27th. The company reported $1.65 earnings per share (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 firm had revenue of $2.40 billion during the quarter, compared to the consensus estimate of $2.43 billion. Analysts predict that Beacon Roofing Supply will post 7.22 earnings per share for the current year.
Hedge Funds Weigh In On Beacon Roofing Supply
Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Quarry LP lifted its stake in shares of Beacon Roofing Supply by 180.7% during the 3rd quarter. Quarry LP now owns 306 shares of the company's stock valued at $26,000 after buying an additional 197 shares in the last quarter. Harvest Fund Management Co. Ltd bought a new stake in Beacon Roofing Supply during the 3rd quarter valued at $28,000. SBI Securities Co. Ltd. purchased a new stake in shares of Beacon Roofing Supply during the fourth quarter worth $31,000. Johnson Financial Group Inc. bought a new position in shares of Beacon Roofing Supply in the fourth quarter worth $54,000. Finally, PNC Financial Services Group Inc. grew its position in shares of Beacon Roofing Supply by 38.1% in the fourth quarter. PNC Financial Services Group Inc. now owns 591 shares of the company's stock valued at $60,000 after purchasing an additional 163 shares in the last quarter. Institutional investors own 98.45% of the company's stock.
About Beacon Roofing Supply
(
Get Free Report)
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.
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