StockNews.com Initiates Coverage on Beacon Roofing Supply (NASDAQ:BECN)

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

Several other research firms have also recently weighed in on BECN. Baird R W cut Beacon Roofing Supply from a “strong-buy” rating to a “hold” rating in a research report on Thursday, March 20th. Robert W. Baird increased their price objective on Beacon Roofing Supply from $120.00 to $124.00 and gave the stock an “outperform” rating in a report on Friday, February 28th. BMO Capital Markets dropped their target price on shares of Beacon Roofing Supply from $136.00 to $130.00 and set an “outperform” rating on the stock in a report on Tuesday, March 4th. William Blair reiterated a “market perform” rating on shares of Beacon Roofing Supply in a research note on Thursday, March 20th. Finally, Stifel Nicolaus cut shares of Beacon Roofing Supply from a “buy” rating to a “hold” rating and cut their price objective for the stock from $131.00 to $122.55 in a report on Friday, February 7th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Beacon Roofing Supply presently has a consensus rating of “Hold” and a consensus target price of $120.95.

Beacon Roofing Supply Trading Up 0.0 %

BECN opened at $123.86 on Tuesday. Beacon Roofing Supply has a one year low of $77.54 and a one year high of $123.90. The company has a debt-to-equity ratio of 1.60, a current ratio of 1.91 and a quick ratio of 1.14. The business has a 50 day simple moving average of $118.34 and a two-hundred day simple moving average of $105.57. The firm has a market capitalization of $7.63 billion, a price-to-earnings ratio of 21.17 and a beta of 1.63.

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

Institutional Investors Weigh In On Beacon Roofing Supply

Institutional investors have recently modified their holdings of the business. Charles Schwab Investment Management Inc. grew its stake in shares of Beacon Roofing Supply by 1.9% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 615,174 shares of the company’s stock worth $62,489,000 after acquiring an additional 11,426 shares during the period. Intech Investment Management LLC bought a new position in shares of Beacon Roofing Supply during the 3rd quarter valued at $1,441,000. Raymond James Financial Inc. purchased a new position in shares of Beacon Roofing Supply in the 4th quarter worth $24,162,000. Barclays PLC grew its holdings in shares of Beacon Roofing Supply by 272.0% in the third quarter. Barclays PLC now owns 122,024 shares of the company’s stock worth $10,547,000 after acquiring an additional 89,222 shares during the period. Finally, Fisher Asset Management LLC increased its position in Beacon Roofing Supply by 2.1% during the fourth quarter. Fisher Asset Management LLC now owns 1,014,087 shares of the company’s stock valued at $103,011,000 after acquiring an additional 20,372 shares during the last quarter. 98.45% of the stock is owned by hedge funds and other institutional investors.

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.