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

StockNews.com assumed coverage on shares of Beacon Roofing Supply (NASDAQ:BECN) in a research note released on Saturday. The firm issued a sell rating on the stock.

Several other equities research analysts also recently issued reports on the company. Royal Bank of Canada increased their price objective on Beacon Roofing Supply from $113.00 to $114.00 and gave the stock an “outperform” rating in a research note on Friday, November 1st. Zelman & Associates downgraded Beacon Roofing Supply from a “strong-buy” rating to a “hold” rating in a research note on Thursday, January 16th. BMO Capital Markets increased their price objective on Beacon Roofing Supply from $125.00 to $136.00 and gave the stock an “outperform” rating in a research note on Thursday, January 16th. Stephens reissued an “equal weight” rating and issued a $103.00 price objective on shares of Beacon Roofing Supply in a research note on Tuesday, November 19th. Finally, Stifel Nicolaus downgraded Beacon Roofing Supply from a “buy” rating to a “hold” rating and cut their price target for the stock from $131.00 to $122.55 in a research note on Friday, February 7th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, Beacon Roofing Supply presently has a consensus rating of “Hold” and an average price target of $120.62.

Beacon Roofing Supply Trading Up 0.1 %

NASDAQ:BECN opened at $115.42 on Friday. 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 has a 1-year low of $77.54 and a 1-year high of $121.42. The firm has a market capitalization of $7.11 billion, a price-to-earnings ratio of 19.73 and a beta of 1.62. The stock has a fifty day simple moving average of $112.56 and a 200 day simple moving average of $101.37.

Beacon Roofing Supply (NASDAQ:BECN) last announced its quarterly earnings data on Thursday, February 27th. The company reported $1.65 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.66 by ($0.01). The business had revenue of $2.40 billion during the quarter, compared to analysts’ expectations of $2.43 billion. Beacon Roofing Supply had a return on equity of 25.32% and a net margin of 3.86%. Sell-side analysts forecast that Beacon Roofing Supply will post 7.22 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the stock. Quarry LP raised its stake in shares of Beacon Roofing Supply by 180.7% in the 3rd quarter. Quarry LP now owns 306 shares of the company’s stock valued at $26,000 after acquiring an additional 197 shares in the last quarter. Blue Trust Inc. raised its stake in shares of Beacon Roofing Supply by 222.1% in the 3rd quarter. Blue Trust Inc. now owns 306 shares of the company’s stock valued at $28,000 after acquiring an additional 211 shares in the last quarter. Harvest Fund Management Co. Ltd bought a new position in shares of Beacon Roofing Supply in the 3rd quarter valued at approximately $28,000. SBI Securities Co. Ltd. bought a new position in shares of Beacon Roofing Supply in the 4th quarter valued at approximately $31,000. Finally, Johnson Financial Group Inc. bought a new position in shares of Beacon Roofing Supply in the 4th quarter valued at approximately $54,000. 98.45% of the stock is owned by 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.