Beacon Roofing Supply (NASDAQ:BECN) Stock Price Expected to Rise, Robert W. Baird Analyst Says

Beacon Roofing Supply (NASDAQ:BECN) had its target price increased by Robert W. Baird from $120.00 to $124.00 in a research report issued on Friday,Benzinga reports. The brokerage presently has an “outperform” rating on the stock. Robert W. Baird’s price target suggests a potential upside of 7.43% from the company’s current price.

A number of other equities analysts also recently weighed in on BECN. Stephens restated an “equal weight” rating and set a $103.00 target price on shares of Beacon Roofing Supply in a report on Tuesday, November 19th. JPMorgan Chase & Co. boosted their target price on shares of Beacon Roofing Supply from $119.00 to $136.00 and gave the stock an “overweight” rating in a report on Tuesday, November 19th. Stifel Nicolaus downgraded shares of Beacon Roofing Supply from a “buy” rating to a “hold” rating and decreased their price objective for the company from $131.00 to $122.55 in a report on Friday, February 7th. StockNews.com started coverage on shares of Beacon Roofing Supply in a report on Friday, February 21st. They issued a “sell” rating on the stock. Finally, Zelman & Associates downgraded shares of Beacon Roofing Supply from a “strong-buy” rating to a “hold” rating in a report on Thursday, January 16th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and six have given a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $120.62.

Beacon Roofing Supply Stock Performance

Shares of BECN stock opened at $115.42 on Friday. The company’s fifty day simple moving average is $112.56 and its 200-day simple moving average is $101.37. The company has a quick ratio of 1.14, a current ratio of 1.91 and a debt-to-equity ratio of 1.60. The firm has a market cap of $7.11 billion, a PE ratio of 19.73 and a beta of 1.62. Beacon Roofing Supply has a 12 month low of $77.54 and a 12 month high of $121.42.

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

Institutional Investors Weigh In On Beacon Roofing Supply

Institutional investors have recently modified their holdings of the business. Quarry LP boosted its position in shares of Beacon Roofing Supply by 180.7% in the third quarter. Quarry LP now owns 306 shares of the company’s stock valued at $26,000 after acquiring an additional 197 shares during the period. Blue Trust Inc. boosted its position in shares of Beacon Roofing Supply by 222.1% in the third quarter. Blue Trust Inc. now owns 306 shares of the company’s stock valued at $28,000 after acquiring an additional 211 shares during the period. Harvest Fund Management Co. Ltd bought a new stake in shares of Beacon Roofing Supply in the third quarter valued at about $28,000. SBI Securities Co. Ltd. bought a new stake in shares of Beacon Roofing Supply in the fourth quarter valued at about $31,000. Finally, Johnson Financial Group Inc. bought a new stake in shares of Beacon Roofing Supply in the fourth quarter valued at about $54,000. Institutional investors own 98.45% of the company’s stock.

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.