Beacon Roofing Supply's (BECN) Hold Rating Reaffirmed at Loop Capital

Loop Capital restated their hold rating on shares of Beacon Roofing Supply (NASDAQ:BECN - Free Report) in a research note published on Friday, Marketbeat Ratings reports. They currently have a $124.00 price target on the stock.

Other equities research analysts also recently issued reports about the stock. Robert W. Baird raised their price objective on shares of Beacon Roofing Supply from $120.00 to $124.00 and gave the stock an "outperform" rating in a research report on Friday, February 28th. Benchmark reissued a "buy" rating and set a $140.00 price target on shares of Beacon Roofing Supply in a report on Monday, March 3rd. BMO Capital Markets decreased their price objective on Beacon Roofing Supply from $136.00 to $130.00 and set an "outperform" rating on the stock in a report on Tuesday, March 4th. Stifel Nicolaus cut Beacon Roofing Supply from a "buy" rating to a "hold" rating and lowered their price objective for the stock from $131.00 to $122.55 in a research report on Friday, February 7th. Finally, StockNews.com initiated coverage on shares of Beacon Roofing Supply in a research report on Monday, March 17th. They issued a "sell" rating for the company. One analyst has rated the stock with a sell rating, seven have issued a hold rating and five have assigned a buy rating to the company's stock. According to MarketBeat.com, Beacon Roofing Supply currently has a consensus rating of "Hold" and a consensus target price of $120.95.

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Beacon Roofing Supply Price Performance

Shares of BECN stock remained flat at $123.77 during trading on Friday. The company had a trading volume of 2,694,217 shares, compared to its average volume of 882,831. Beacon Roofing Supply has a 1-year low of $77.54 and a 1-year high of $124.60. The business has a fifty day moving average price of $117.35 and a two-hundred day moving average price of $104.73. The company has a debt-to-equity ratio of 1.60, a current ratio of 1.91 and a quick ratio of 1.14. The stock has a market capitalization of $7.62 billion, a PE ratio of 21.16 and a beta of 1.63.

Beacon Roofing Supply (NASDAQ:BECN - Get Free Report) last released its quarterly earnings data on Thursday, February 27th. The company reported $1.65 EPS for the quarter, missing the consensus estimate of $1.66 by ($0.01). The company had revenue of $2.40 billion during the quarter, compared to analyst estimates of $2.43 billion. Beacon Roofing Supply had a net margin of 3.86% and a return on equity of 25.32%. As a group, analysts anticipate that Beacon Roofing Supply will post 7.22 EPS for the current fiscal year.

Hedge Funds Weigh In On Beacon Roofing Supply

A number of institutional investors have recently added to or reduced their stakes in the stock. Quarry LP increased its holdings in shares of Beacon Roofing Supply by 180.7% during the third quarter. Quarry LP now owns 306 shares of the company's stock worth $26,000 after buying an additional 197 shares in the last quarter. Harvest Fund Management Co. Ltd acquired a new stake in shares of Beacon Roofing Supply during the 3rd quarter valued at $28,000. SBI Securities Co. Ltd. bought a new stake in Beacon Roofing Supply during the 4th quarter worth $31,000. Johnson Financial Group Inc. acquired a new position in Beacon Roofing Supply in the 4th quarter worth about $54,000. Finally, PNC Financial Services Group Inc. boosted its stake 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 valued at $60,000 after purchasing an additional 163 shares in the last quarter. 98.45% of the stock is currently owned by institutional investors and hedge funds.

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.