Beacon Roofing Supply (NASDAQ:BECN) Given New $130.00 Price Target at BMO Capital Markets

Beacon Roofing Supply (NASDAQ:BECN) had its target price reduced by BMO Capital Markets from $136.00 to $130.00 in a report released on Tuesday,Benzinga reports. BMO Capital Markets currently has an outperform rating on the stock.

Other analysts also recently issued reports about the stock. Benchmark reiterated a “buy” rating and issued a $140.00 price objective on shares of Beacon Roofing Supply in a research report on Monday. Zelman & Associates cut shares of Beacon Roofing Supply from a “strong-buy” rating to a “hold” rating in a research note on Thursday, January 16th. Robert W. Baird raised their target price on shares of Beacon Roofing Supply from $120.00 to $124.00 and gave the company an “outperform” rating in a research note on Friday, February 28th. JPMorgan Chase & Co. raised their target price on shares of Beacon Roofing Supply from $119.00 to $136.00 and gave the company an “overweight” rating in a research note on Tuesday, November 19th. Finally, StockNews.com started coverage on shares of Beacon Roofing Supply in a research note on Saturday. They set a “sell” rating on the stock. 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 company. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $119.95.

Beacon Roofing Supply Trading Down 1.2 %

Shares of NASDAQ:BECN opened at $111.51 on Tuesday. The company has a market cap of $6.87 billion, a PE ratio of 19.06 and a beta of 1.62. The company’s 50-day moving average price is $112.80 and its 200 day moving average price is $101.77. Beacon Roofing Supply has a fifty-two week low of $77.54 and a fifty-two week high of $121.42. 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 (NASDAQ:BECN) last issued its quarterly earnings data 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). 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%. Sell-side analysts anticipate that Beacon Roofing Supply will post 7.22 earnings per share for the current year.

Hedge Funds Weigh In On Beacon Roofing Supply

Several hedge funds have recently made changes to their positions in BECN. FMR LLC grew its stake in shares of Beacon Roofing Supply by 17.6% in the 3rd quarter. FMR LLC now owns 6,435,880 shares of the company’s stock worth $556,253,000 after purchasing an additional 963,633 shares during the last quarter. Norges Bank acquired a new position in shares of Beacon Roofing Supply in the 4th quarter worth approximately $94,573,000. Balyasny Asset Management L.P. purchased a new position in shares of Beacon Roofing Supply in the fourth quarter worth approximately $68,588,000. Janus Henderson Group PLC raised its holdings in shares of Beacon Roofing Supply by 1,449.0% during the third quarter. Janus Henderson Group PLC now owns 615,593 shares of the company’s stock valued at $53,205,000 after acquiring an additional 575,852 shares during the period. Finally, Citigroup Inc. raised its holdings in shares of Beacon Roofing Supply by 1,192.1% during the third quarter. Citigroup Inc. now owns 513,692 shares of the company’s stock valued at $44,398,000 after acquiring an additional 473,937 shares during the period. Institutional investors and hedge funds 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.