Beacon Roofing Supply (NASDAQ:BECN) Stock Rating Upgraded by StockNews.com

Beacon Roofing Supply (NASDAQ:BECN) was upgraded by equities research analysts at StockNews.com from a “hold” rating to a “buy” rating in a report issued on Tuesday.

BECN has been the subject of a number of other research reports. BMO Capital Markets upped their price objective on Beacon Roofing Supply from $95.00 to $120.00 and gave the stock an “outperform” rating in a research note on Thursday, April 11th. Stifel Nicolaus increased their price target on Beacon Roofing Supply from $115.00 to $119.00 and gave the company a “buy” rating in a research note on Tuesday, December 19th. TheStreet raised Beacon Roofing Supply from a “c” rating to a “b-” rating in a research note on Tuesday, February 27th. JPMorgan Chase & Co. dropped their price target on Beacon Roofing Supply from $103.00 to $97.00 and set an “overweight” rating for the company in a research note on Thursday, January 11th. Finally, Robert W. Baird raised Beacon Roofing Supply from a “neutral” rating to an “outperform” rating and increased their price target for the company from $99.00 to $115.00 in a research note on Thursday, February 29th. Two analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat.com, Beacon Roofing Supply has a consensus rating of “Moderate Buy” and a consensus price target of $100.00.

Beacon Roofing Supply Stock Down 1.5 %

Beacon Roofing Supply stock opened at $93.18 on Tuesday. The stock has a fifty day moving average of $91.18 and a 200 day moving average of $84.21. Beacon Roofing Supply has a one year low of $56.94 and a one year high of $102.83. The company has a debt-to-equity ratio of 1.30, a quick ratio of 1.06 and a current ratio of 1.85. The stock has a market cap of $5.91 billion, a PE ratio of -198.26 and a beta of 1.63.

Beacon Roofing Supply (NASDAQ:BECN) last released its quarterly earnings results on Tuesday, February 27th. The company reported $1.47 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.69 by ($0.22). The company had revenue of $2.30 billion for the quarter, compared to the consensus estimate of $2.27 billion. Beacon Roofing Supply had a net margin of 4.74% and a return on equity of 26.95%. The business’s revenue for the quarter was up 16.8% on a year-over-year basis. During the same period in the prior year, the firm posted $1.18 EPS. As a group, sell-side analysts predict that Beacon Roofing Supply will post 7.85 EPS for the current year.

Insider Buying and Selling at Beacon Roofing Supply

In other news, insider Jason L. Taylor sold 1,805 shares of the stock in a transaction that occurred on Thursday, March 21st. The stock was sold at an average price of $95.00, for a total value of $171,475.00. Following the sale, the insider now directly owns 10,531 shares in the company, valued at $1,000,445. The sale was disclosed in a document filed with the SEC, which is available at this link. In other news, EVP Christopher Carl Nelson sold 3,268 shares of the stock in a transaction that occurred on Thursday, March 28th. The stock was sold at an average price of $93.87, for a total value of $306,767.16. Following the sale, the executive vice president now directly owns 176 shares in the company, valued at $16,521.12. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, insider Jason L. Taylor sold 1,805 shares of the stock in a transaction that occurred on Thursday, March 21st. The stock was sold at an average price of $95.00, for a total value of $171,475.00. Following the completion of the sale, the insider now owns 10,531 shares in the company, valued at $1,000,445. The disclosure for this sale can be found here. Company insiders own 1.30% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. increased its holdings in Beacon Roofing Supply by 9.6% during the 4th quarter. Vanguard Group Inc. now owns 6,165,267 shares of the company’s stock worth $536,502,000 after purchasing an additional 539,785 shares during the period. BlackRock Inc. increased its holdings in Beacon Roofing Supply by 3.6% during the 2nd quarter. BlackRock Inc. now owns 3,645,889 shares of the company’s stock worth $302,536,000 after purchasing an additional 125,602 shares during the period. Price T Rowe Associates Inc. MD increased its holdings in Beacon Roofing Supply by 4.0% during the 2nd quarter. Price T Rowe Associates Inc. MD now owns 2,806,283 shares of the company’s stock worth $144,131,000 after purchasing an additional 106,890 shares during the period. American Century Companies Inc. increased its holdings in Beacon Roofing Supply by 9.3% during the 3rd quarter. American Century Companies Inc. now owns 2,734,447 shares of the company’s stock worth $211,017,000 after purchasing an additional 233,393 shares during the period. Finally, Frontier Capital Management Co. LLC increased its holdings in Beacon Roofing Supply by 17.3% during the 4th quarter. Frontier Capital Management Co. LLC now owns 2,126,533 shares of the company’s stock worth $185,051,000 after purchasing an additional 314,102 shares during the period. 98.45% of the stock is currently owned by hedge funds and other institutional investors.

About Beacon Roofing Supply

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.