Beacon Roofing Supply (NASDAQ:BECN) Now Covered by StockNews.com

Investment analysts at StockNews.com started coverage on shares of Beacon Roofing Supply (NASDAQ:BECN) in a research report issued to clients and investors on Friday. The firm set a “sell” rating on the stock.

Several other analysts also recently commented on BECN. Zelman & Associates downgraded shares of Beacon Roofing Supply from a “strong-buy” rating to a “hold” rating in a report on Thursday, January 16th. JPMorgan Chase & Co. increased their target price on shares of Beacon Roofing Supply from $119.00 to $136.00 and gave the company 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 lowered their target price for the company from $131.00 to $122.55 in a report on Friday, February 7th. Benchmark reiterated a “buy” rating and issued a $140.00 target price on shares of Beacon Roofing Supply in a report on Friday, November 1st. Finally, BMO Capital Markets increased their target price on shares of Beacon Roofing Supply from $125.00 to $136.00 and gave the company an “outperform” rating in a report on Thursday, January 16th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $120.17.

Beacon Roofing Supply Stock Up 0.3 %

Shares of NASDAQ BECN opened at $119.57 on Friday. 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 company’s fifty day simple moving average is $111.09 and its 200 day simple moving average is $100.00. Beacon Roofing Supply has a 12-month low of $77.54 and a 12-month high of $121.42. The firm has a market cap of $7.36 billion, a PE ratio of 20.44 and a beta of 1.62.

Institutional Investors Weigh In On Beacon Roofing Supply

A number of institutional investors have recently added to or reduced their stakes in BECN. Blue Trust Inc. grew its holdings 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 purchasing an additional 211 shares in the last quarter. Raymond James & Associates grew its holdings in shares of Beacon Roofing Supply by 29.6% in the third quarter. Raymond James & Associates now owns 54,462 shares of the company’s stock valued at $4,707,000 after purchasing an additional 12,433 shares in the last quarter. Assenagon Asset Management S.A. grew its holdings in shares of Beacon Roofing Supply by 12.3% in the third quarter. Assenagon Asset Management S.A. now owns 209,547 shares of the company’s stock valued at $18,111,000 after purchasing an additional 22,971 shares in the last quarter. Iridian Asset Management LLC CT grew its holdings in shares of Beacon Roofing Supply by 27.5% in the third quarter. Iridian Asset Management LLC CT now owns 83,713 shares of the company’s stock valued at $7,235,000 after purchasing an additional 18,064 shares in the last quarter. Finally, US Bancorp DE grew its holdings in shares of Beacon Roofing Supply by 2.3% in the third quarter. US Bancorp DE now owns 5,255 shares of the company’s stock valued at $454,000 after purchasing an additional 116 shares in 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.