Beacon Roofing Supply, Inc. (NASDAQ:BECN) Given Consensus Recommendation of “Moderate Buy” by Analysts

Shares of Beacon Roofing Supply, Inc. (NASDAQ:BECN) have earned an average recommendation of “Moderate Buy” from the ten ratings firms that are covering the stock, MarketBeat Ratings reports. Four equities research analysts have rated the stock with a hold recommendation and six have given a buy recommendation to the company. The average 1-year price objective among brokers that have covered the stock in the last year is $119.95.

BECN has been the subject of several recent analyst reports. Stifel Nicolaus cut Beacon Roofing Supply from a “buy” rating to a “hold” rating and cut their target price for the stock from $131.00 to $122.55 in a research note on Friday, February 7th. BMO Capital Markets cut their target price on Beacon Roofing Supply from $136.00 to $130.00 and set an “outperform” rating for the company in a research note on Tuesday, March 4th. Zelman & Associates cut Beacon Roofing Supply from a “strong-buy” rating to a “hold” rating in a research note on Thursday, January 16th. Stephens reaffirmed 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, JPMorgan Chase & Co. lifted their price objective on Beacon Roofing Supply from $119.00 to $136.00 and gave the company an “overweight” rating in a research note on Tuesday, November 19th.

Beacon Roofing Supply Stock Performance

Shares of Beacon Roofing Supply stock opened at $119.90 on Tuesday. Beacon Roofing Supply has a one year low of $77.54 and a one year high of $121.42. The company has a market cap of $7.38 billion, a price-to-earnings ratio of 20.50 and a beta of 1.63. The company has a debt-to-equity ratio of 1.60, a quick ratio of 1.14 and a current ratio of 1.91. The business’s 50 day moving average price is $115.41 and its 200 day moving average price is $103.53.

Beacon Roofing Supply (NASDAQ:BECN) last posted its earnings results 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 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%. On average, research analysts predict that Beacon Roofing Supply will post 7.22 EPS for the current year.

Institutional Trading of Beacon Roofing Supply

Several institutional investors and hedge funds have recently made changes to their positions in BECN. FMR LLC lifted its holdings 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 valued at $556,253,000 after purchasing an additional 963,633 shares during the last quarter. Norges Bank purchased a new stake in shares of Beacon Roofing Supply in the 4th quarter valued at about $94,573,000. Balyasny Asset Management L.P. purchased a new stake in shares of Beacon Roofing Supply in the 4th quarter valued at about $68,588,000. Janus Henderson Group PLC lifted its holdings in shares of Beacon Roofing Supply by 1,449.0% in the 3rd quarter. Janus Henderson Group PLC now owns 615,593 shares of the company’s stock valued at $53,205,000 after purchasing an additional 575,852 shares during the last quarter. Finally, Citigroup Inc. raised its stake in Beacon Roofing Supply by 1,192.1% during the 3rd 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 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.