Shares of Beacon Roofing Supply, Inc. (NASDAQ:BECN - Get Free Report) saw unusually-high trading volume on Thursday . Approximately 6,999,266 shares were traded during trading, an increase of 800% from the previous session's volume of 777,486 shares.The stock last traded at $123.82 and had previously closed at $121.53.
Analyst Ratings Changes
Several research firms recently weighed in on BECN. William Blair reiterated a "market perform" rating on shares of Beacon Roofing Supply in a research note on Thursday. Baird R W downgraded Beacon Roofing Supply from a "strong-buy" rating to a "hold" rating in a research note on Thursday. Robert W. Baird increased their price target 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 cut their price objective on Beacon Roofing Supply from $136.00 to $130.00 and set an "outperform" rating for the company in a report on Tuesday, March 4th. Finally, Benchmark reaffirmed a "buy" rating and set a $140.00 target price on shares of Beacon Roofing Supply in a report on Monday, March 3rd. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $120.95.
Read Our Latest Stock Analysis on Beacon Roofing Supply
Beacon Roofing Supply Price Performance
The business's 50 day simple moving average is $117.35 and its 200 day simple moving average is $104.73. The company has a market capitalization of $7.62 billion, a PE ratio of 21.16 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 issued its quarterly earnings results on Thursday, February 27th. The company reported $1.65 EPS 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 analysts' expectations of $2.43 billion. As a group, analysts forecast that Beacon Roofing Supply, Inc. will post 7.22 EPS for the current year.
Institutional Trading of Beacon Roofing Supply
Several hedge funds and other institutional investors have recently modified their holdings of the business. Vanguard Group Inc. lifted its stake in Beacon Roofing Supply by 0.4% in the 4th quarter. Vanguard Group Inc. now owns 6,509,495 shares of the company's stock worth $661,235,000 after acquiring an additional 24,027 shares in the last quarter. FMR LLC increased its holdings in shares of Beacon Roofing Supply by 17.6% in the 3rd quarter. FMR LLC now owns 6,435,880 shares of the company's stock valued at $556,253,000 after purchasing an additional 963,633 shares during the period. Boston Partners lifted its position in shares of Beacon Roofing Supply by 1.3% in the fourth quarter. Boston Partners now owns 4,531,106 shares of the company's stock worth $462,417,000 after purchasing an additional 59,630 shares in the last quarter. Frontier Capital Management Co. LLC boosted its holdings in shares of Beacon Roofing Supply by 16.0% during the fourth quarter. Frontier Capital Management Co. LLC now owns 2,384,793 shares of the company's stock worth $242,247,000 after purchasing an additional 329,047 shares during the period. Finally, State Street Corp grew 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 purchasing an additional 15,505 shares in the last quarter. Institutional investors and hedge funds 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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