Beacon Roofing Supply, Inc. (NASDAQ:BECN - Get Free Report) saw unusually-strong trading volume on Wednesday . Approximately 726,228 shares were traded during trading, a decline of 19% from the previous session's volume of 896,187 shares.The stock last traded at $123.85 and had previously closed at $123.80.
Wall Street Analyst Weigh In
Several equities research analysts recently weighed in on BECN shares. Stifel Nicolaus cut Beacon Roofing Supply from a "buy" rating to a "hold" rating and reduced their price target for the stock from $131.00 to $122.55 in a research note on Friday, February 7th. Baird R W downgraded shares of Beacon Roofing Supply from a "strong-buy" rating to a "hold" rating in a research report on Thursday, March 20th. Loop Capital restated a "hold" rating and issued a $124.00 price target on shares of Beacon Roofing Supply in a research report on Friday, March 21st. StockNews.com started coverage on shares of Beacon Roofing Supply in a research report on Tuesday, March 25th. They issued a "sell" rating for the company. Finally, William Blair restated a "market perform" rating on shares of Beacon Roofing Supply in a research note on Thursday, March 20th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $120.95.
Get Our Latest Research Report on Beacon Roofing Supply
Beacon Roofing Supply Stock Performance
The firm has a 50 day moving average of $118.50 and a 200-day moving average of $106.05. The company has a market cap of $7.63 billion, a P/E ratio of 21.17 and a beta of 1.63. The company has a quick ratio of 1.14, a current ratio of 1.91 and a debt-to-equity ratio of 1.60.
Beacon Roofing Supply (NASDAQ:BECN - Get Free Report) last released its quarterly earnings data on Thursday, February 27th. The company reported $1.65 earnings per share for the quarter, missing the consensus estimate of $1.66 by ($0.01). Beacon Roofing Supply had a net margin of 3.86% and a return on equity of 25.32%. The firm had revenue of $2.40 billion during the quarter, compared to the consensus estimate of $2.43 billion. As a group, sell-side analysts anticipate that Beacon Roofing Supply, Inc. will post 7.22 EPS for the current fiscal year.
Institutional Inflows and Outflows
A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. boosted its position in Beacon Roofing Supply by 0.4% during the fourth quarter. Vanguard Group Inc. now owns 6,509,495 shares of the company's stock valued at $661,235,000 after purchasing an additional 24,027 shares in the last quarter. Boston Partners grew its position in shares of Beacon Roofing Supply by 1.3% in the 4th quarter. Boston Partners now owns 4,531,106 shares of the company's stock worth $462,417,000 after buying an additional 59,630 shares during the last quarter. Frontier Capital Management Co. LLC raised its stake in shares of Beacon Roofing Supply by 16.0% during the 4th quarter. Frontier Capital Management Co. LLC now owns 2,384,793 shares of the company's stock worth $242,247,000 after acquiring an additional 329,047 shares in the last quarter. State Street Corp lifted its position in Beacon Roofing Supply by 1.1% during the third quarter. State Street Corp now owns 1,471,500 shares of the company's stock valued at $127,182,000 after acquiring an additional 15,505 shares during the last quarter. Finally, Invesco Ltd. boosted its stake in Beacon Roofing Supply by 7.4% in the fourth quarter. Invesco Ltd. now owns 1,248,349 shares of the company's stock valued at $126,807,000 after acquiring an additional 86,209 shares in the last quarter. 98.45% of the stock is currently owned by hedge funds and other institutional investors.
About Beacon Roofing Supply
(
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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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