Beacon Roofing Supply’s (BECN) “Buy” Rating Reaffirmed at Benchmark

Benchmark reiterated their buy rating on shares of Beacon Roofing Supply (NASDAQ:BECN) in a research note issued to investors on Monday morning,Benzinga reports. Benchmark currently has a $140.00 target price on the stock.

A number of other equities research analysts have also commented on BECN. BMO Capital Markets upped their price target on Beacon Roofing Supply from $125.00 to $136.00 and gave the company an “outperform” rating in a research report on Thursday, January 16th. Stifel Nicolaus downgraded shares of Beacon Roofing Supply from a “buy” rating to a “hold” rating and decreased their target price for the company from $131.00 to $122.55 in a research report on Friday, February 7th. StockNews.com started coverage on shares of Beacon Roofing Supply in a research report on Saturday. They issued a “sell” rating on the stock. Zelman & Associates cut shares of Beacon Roofing Supply from a “strong-buy” rating to a “hold” rating in a research report on Thursday, January 16th. Finally, Stephens restated an “equal weight” rating and issued a $103.00 target price on shares of Beacon Roofing Supply in a report on Tuesday, November 19th. One research analyst has rated the stock with a sell rating, four have given a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, Beacon Roofing Supply has a consensus rating of “Hold” and a consensus price target of $120.62.

Beacon Roofing Supply Stock Performance

Beacon Roofing Supply stock opened at $112.91 on Monday. The business has a 50 day moving average of $112.56 and a 200-day moving average of $101.59. The company has a debt-to-equity ratio of 1.60, a current ratio of 1.91 and a quick ratio of 1.14. Beacon Roofing Supply has a 1 year low of $77.54 and a 1 year high of $121.42. The company has a market capitalization of $6.95 billion, a P/E ratio of 19.30 and a beta of 1.62.

Beacon Roofing Supply (NASDAQ:BECN) last released its quarterly 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 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%. On average, equities research analysts predict that Beacon Roofing Supply will post 7.22 earnings per share for the current year.

Institutional Trading of Beacon Roofing Supply

Hedge funds and other institutional investors have recently bought and sold shares of the business. Quarry LP increased its position in shares of Beacon Roofing Supply by 180.7% during the third quarter. Quarry LP now owns 306 shares of the company’s stock worth $26,000 after acquiring an additional 197 shares in the last quarter. Harvest Fund Management Co. Ltd purchased a new stake in shares of Beacon Roofing Supply in the third quarter worth approximately $28,000. SBI Securities Co. Ltd. bought a new position in shares of Beacon Roofing Supply in the fourth quarter valued at approximately $31,000. Johnson Financial Group Inc. bought a new stake in Beacon Roofing Supply during the fourth quarter worth $54,000. Finally, PNC Financial Services Group Inc. raised its position in Beacon Roofing Supply by 38.1% in the 4th quarter. PNC Financial Services Group Inc. now owns 591 shares of the company’s stock valued at $60,000 after buying an additional 163 shares during the last quarter. Institutional investors own 98.45% of the company’s stock.

About Beacon Roofing Supply

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.