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

StockNews.com began coverage on shares of Beacon Roofing Supply (NASDAQ:BECN - Free Report) in a research report sent to investors on Thursday. The firm issued a sell rating on the stock.

Several other equities analysts also recently issued reports on BECN. 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. Loop Capital restated a "hold" rating and set a $124.00 price objective on shares of Beacon Roofing Supply in a research report on Friday, March 21st. Benchmark reaffirmed a "buy" rating and set a $140.00 price objective on shares of Beacon Roofing Supply in a report on Monday, March 3rd. Baird R W cut Beacon Roofing Supply from a "strong-buy" rating to a "hold" rating in a report on Thursday, March 20th. Finally, Royal Bank of Canada lowered shares of Beacon Roofing Supply from an "outperform" rating to a "sector perform" rating and increased their price target for the company from $124.00 to $124.35 in a research report on Wednesday, April 2nd. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and four have given a buy rating to the stock. According to MarketBeat, the company currently has an average rating of "Hold" and an average target price of $122.10.

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Beacon Roofing Supply Stock Down 0.1 %

Shares of Beacon Roofing Supply stock traded down $0.10 during trading hours on Thursday, reaching $123.28. 413,640 shares of the company were exchanged, compared to its average volume of 1,107,838. The stock's fifty day moving average is $119.80 and its 200 day moving average is $109.50. The company has a debt-to-equity ratio of 1.60, a quick ratio of 1.14 and a current ratio of 1.91. Beacon Roofing Supply has a 1 year low of $77.54 and a 1 year high of $123.90. The firm has a market cap of $7.62 billion, a PE ratio of 21.08 and a beta of 1.31.

Beacon Roofing Supply (NASDAQ:BECN - Get Free Report) last announced its quarterly earnings data on Thursday, February 27th. The company reported $1.65 earnings per share for the quarter, missing analysts' consensus estimates of $1.66 by ($0.01). The firm 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, equities research analysts forecast that Beacon Roofing Supply will post 7.22 earnings per share for the current year.

Insider Activity at Beacon Roofing Supply

In other Beacon Roofing Supply news, insider Clement Munroe Best III sold 29,724 shares of the company's stock in a transaction dated Friday, April 4th. The shares were sold at an average price of $123.05, for a total value of $3,657,538.20. Following the completion of the transaction, the insider now directly owns 87,943 shares of the company's stock, valued at $10,821,386.15. This represents a 25.26 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Jonathan Stuart Bennett sold 8,487 shares of the firm's stock in a transaction that occurred on Monday, April 7th. The shares were sold at an average price of $122.14, for a total value of $1,036,602.18. Following the sale, the insider now owns 22,642 shares of the company's stock, valued at approximately $2,765,493.88. This trade represents a 27.26 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 54,806 shares of company stock worth $6,745,448. 1.30% of the stock is owned by insiders.

Institutional Trading of Beacon Roofing Supply

Several institutional investors have recently added to or reduced their stakes in the stock. Quarry LP increased its stake in Beacon Roofing Supply by 180.7% during the third quarter. Quarry LP now owns 306 shares of the company's stock valued at $26,000 after purchasing an additional 197 shares during the last quarter. SBI Securities Co. Ltd. acquired a new position in shares of Beacon Roofing Supply in the 4th quarter worth $31,000. Versant Capital Management Inc raised its holdings in Beacon Roofing Supply by 133.7% during the 1st quarter. Versant Capital Management Inc now owns 388 shares of the company's stock worth $48,000 after buying an additional 222 shares during the period. Johnson Financial Group Inc. purchased a new position in Beacon Roofing Supply during the 4th quarter worth approximately $54,000. Finally, PNC Financial Services Group Inc. lifted its stake in Beacon Roofing Supply by 38.1% in the 4th quarter. PNC Financial Services Group Inc. now owns 591 shares of the company's stock worth $60,000 after acquiring an additional 163 shares in the last quarter. 98.45% of the stock is 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.