Beacon Roofing Supply (NASDAQ:BECN) Research Coverage Started at StockNews.com

StockNews.com began coverage on shares of Beacon Roofing Supply (NASDAQ:BECN) in a research note published on Tuesday morning. The brokerage issued a sell rating on the stock.

Other equities analysts have also issued research reports about the stock. Robert W. Baird increased their price target on shares of Beacon Roofing Supply from $120.00 to $124.00 and gave the company an “outperform” rating in a research report on Friday, February 28th. Stifel Nicolaus lowered shares of Beacon Roofing Supply from a “buy” rating to a “hold” rating and decreased their price target for the stock from $131.00 to $122.55 in a research note on Friday, February 7th. Baird R W downgraded Beacon Roofing Supply from a “strong-buy” rating to a “hold” rating in a research note on Thursday, March 20th. Zelman & Associates downgraded Beacon Roofing Supply from a “strong-buy” rating to a “hold” rating in a research report on Thursday, January 16th. Finally, BMO Capital Markets cut their price target on Beacon Roofing Supply from $136.00 to $130.00 and set an “outperform” rating for the company in a research note on Tuesday, March 4th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $120.95.

Beacon Roofing Supply Price Performance

Shares of NASDAQ:BECN opened at $123.86 on Tuesday. The company has a current ratio of 1.91, a quick ratio of 1.14 and a debt-to-equity ratio of 1.60. The stock has a market cap of $7.63 billion, a PE ratio of 21.17 and a beta of 1.63. The stock’s fifty day simple moving average is $118.34 and its two-hundred day simple moving average is $105.57. Beacon Roofing Supply has a 1-year low of $77.54 and a 1-year high of $123.90.

Beacon Roofing Supply (NASDAQ:BECN) last released its quarterly earnings results 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 return on equity of 25.32% and a net margin of 3.86%. The firm had revenue of $2.40 billion for the quarter, compared to analysts’ expectations of $2.43 billion. As a group, analysts forecast 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 large investors have recently modified their holdings of the company. Equitable Trust Co. lifted its holdings in shares of Beacon Roofing Supply by 1.7% in the 4th quarter. Equitable Trust Co. now owns 7,228 shares of the company’s stock worth $734,000 after acquiring an additional 122 shares during the last quarter. Nomura Asset Management Co. Ltd. grew its stake in shares of Beacon Roofing Supply by 26.3% during the fourth quarter. Nomura Asset Management Co. Ltd. now owns 720 shares of the company’s stock valued at $73,000 after buying an additional 150 shares during the last quarter. PNC Financial Services Group Inc. increased its holdings in shares of Beacon Roofing Supply by 38.1% in the fourth quarter. PNC Financial Services Group Inc. now owns 591 shares of the company’s stock worth $60,000 after buying an additional 163 shares during the period. Cornerstone Investment Partners LLC lifted its stake in shares of Beacon Roofing Supply by 3.6% in the 4th quarter. Cornerstone Investment Partners LLC now owns 4,730 shares of the company’s stock valued at $480,000 after acquiring an additional 166 shares during the last quarter. Finally, HighTower Advisors LLC boosted its holdings in Beacon Roofing Supply by 7.3% during the 3rd quarter. HighTower Advisors LLC now owns 2,665 shares of the company’s stock valued at $234,000 after acquiring an additional 181 shares during the period. 98.45% of the stock is 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.