Beacon Roofing Supply (NASDAQ:BECN) Earns Market Perform Rating from William Blair

Beacon Roofing Supply (NASDAQ:BECN)‘s stock had its “market perform” rating restated by investment analysts at William Blair in a research note issued on Thursday,Benzinga reports.

A number of other research firms have also issued reports on BECN. Zelman & Associates lowered shares of Beacon Roofing Supply from a “strong-buy” rating to a “hold” rating in a report on Thursday, January 16th. StockNews.com assumed coverage on shares of Beacon Roofing Supply in a report on Monday, March 17th. They set a “sell” rating on the stock. Benchmark restated a “buy” rating and set a $140.00 price target on shares of Beacon Roofing Supply in a report on Monday, March 3rd. Robert W. Baird boosted their price target on shares of Beacon Roofing Supply from $120.00 to $124.00 and gave the company an “outperform” rating in a report on Friday, February 28th. Finally, Stifel Nicolaus lowered shares of Beacon Roofing Supply from a “buy” rating to a “hold” rating and dropped their price objective for the company from $131.00 to $122.55 in a research note on Friday, February 7th. One analyst has rated the stock with a sell rating, six have issued a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, Beacon Roofing Supply presently has an average rating of “Hold” and an average target price of $120.95.

Beacon Roofing Supply Stock Down 0.0 %

NASDAQ BECN opened at $123.77 on Thursday. 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 company’s 50 day simple moving average is $117.35 and its 200 day simple moving average is $104.46. Beacon Roofing Supply has a 12 month low of $77.54 and a 12 month high of $123.90. The company has a market capitalization of $7.62 billion, a P/E ratio of 21.16 and a beta of 1.63.

Beacon Roofing Supply (NASDAQ:BECN) last released its 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). Beacon Roofing Supply had a return on equity of 25.32% and a net margin of 3.86%. The business had revenue of $2.40 billion during the quarter, compared to the consensus estimate of $2.43 billion. Equities research analysts expect that Beacon Roofing Supply will post 7.22 earnings per share for the current fiscal year.

Institutional Trading of Beacon Roofing Supply

Large investors have recently added to or reduced their stakes in the business. Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in shares of Beacon Roofing Supply during the 4th quarter worth $3,184,000. Polar Asset Management Partners Inc. bought a new stake in shares of Beacon Roofing Supply during the 4th quarter worth $4,510,000. Forum Financial Management LP bought a new stake in shares of Beacon Roofing Supply during the 4th quarter worth $224,000. Amiral Gestion bought a new stake in shares of Beacon Roofing Supply during the 4th quarter worth $1,478,000. Finally, Public Employees Retirement System of Ohio bought a new stake in shares of Beacon Roofing Supply during the 4th quarter worth $9,873,000. 98.45% of the stock is owned by 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.