BMO Capital Markets Has Lowered Expectations for Beacon Roofing Supply (NASDAQ:BECN) Stock Price

Beacon Roofing Supply (NASDAQ:BECN) had its price objective decreased by investment analysts at BMO Capital Markets from $136.00 to $130.00 in a research note issued on Tuesday,Benzinga reports. The brokerage presently has an “outperform” rating on the stock. BMO Capital Markets’ price target would indicate a potential upside of 15.79% from the stock’s current price.

Several other brokerages have also recently weighed in on BECN. Stifel Nicolaus cut 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. StockNews.com assumed coverage on shares of Beacon Roofing Supply in a research report on Saturday. They issued a “sell” rating for the company. Benchmark reissued a “buy” rating and set a $140.00 price target on shares of Beacon Roofing Supply in a research report on Monday. Zelman & Associates cut Beacon Roofing Supply from a “strong-buy” rating to a “hold” rating in a report on Thursday, January 16th. Finally, JPMorgan Chase & Co. lifted their target price on Beacon Roofing Supply from $119.00 to $136.00 and gave the company an “overweight” rating in a research report on Tuesday, November 19th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, Beacon Roofing Supply has an average rating of “Hold” and an average price target of $119.95.

Beacon Roofing Supply Stock Down 0.6 %

Shares of NASDAQ:BECN traded down $0.64 during midday trading on Tuesday, reaching $112.28. 327,524 shares of the company were exchanged, compared to its average volume of 926,613. The firm has a market cap of $6.91 billion, a PE ratio of 19.19 and a beta of 1.62. 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 fifty-two week low of $77.54 and a fifty-two week high of $121.42. The stock has a fifty day simple moving average of $112.80 and a two-hundred day simple moving average of $101.77.

Beacon Roofing Supply (NASDAQ:BECN) last issued its quarterly earnings results on Thursday, February 27th. The company reported $1.65 EPS 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 the consensus estimate 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, sell-side analysts forecast that Beacon Roofing Supply will post 7.22 earnings per share for the current year.

Institutional Trading of Beacon Roofing Supply

A number of hedge funds have recently made changes to their positions in BECN. Vanguard Group Inc. increased its holdings in shares of Beacon Roofing Supply by 0.4% during the 4th quarter. Vanguard Group Inc. now owns 6,509,495 shares of the company’s stock worth $661,235,000 after acquiring an additional 24,027 shares during the last quarter. FMR LLC increased its holdings in shares of Beacon Roofing Supply by 17.6% in the third quarter. FMR LLC now owns 6,435,880 shares of the company’s stock valued at $556,253,000 after purchasing an additional 963,633 shares during the last quarter. Boston Partners raised its position in shares of Beacon Roofing Supply by 1.3% in the fourth quarter. Boston Partners now owns 4,531,106 shares of the company’s stock valued at $462,417,000 after purchasing an additional 59,630 shares during the period. Frontier Capital Management Co. LLC lifted its stake in shares of Beacon Roofing Supply by 16.0% during the 4th quarter. Frontier Capital Management Co. LLC now owns 2,384,793 shares of the company’s stock worth $242,247,000 after buying an additional 329,047 shares during the last quarter. Finally, State Street Corp lifted its stake in shares of Beacon Roofing Supply by 1.1% during the 3rd quarter. State Street Corp now owns 1,471,500 shares of the company’s stock worth $127,182,000 after buying an additional 15,505 shares during 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.