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

StockNews.com assumed coverage on shares of Beacon Roofing Supply (NASDAQ:BECN) in a note issued to investors on Sunday. The brokerage set a “sell” rating on the stock.

Other equities analysts have also recently issued reports about the company. Zelman & Associates cut Beacon Roofing Supply from a “strong-buy” rating to a “hold” rating in a report on Thursday, January 16th. Benchmark reissued a “buy” rating and issued a $140.00 target price on shares of Beacon Roofing Supply in a report on Monday, March 3rd. Stifel Nicolaus downgraded Beacon Roofing Supply from a “buy” rating to a “hold” rating and cut their price target for the company from $131.00 to $122.55 in a research note on Friday, February 7th. JPMorgan Chase & Co. upped their price target on shares of Beacon Roofing Supply from $119.00 to $136.00 and gave the company an “overweight” rating in a research report on Tuesday, November 19th. Finally, Robert W. Baird raised their price objective on shares of Beacon Roofing Supply from $120.00 to $124.00 and gave the stock an “outperform” rating in a report on Friday, February 28th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, Beacon Roofing Supply presently has an average rating of “Hold” and a consensus target price of $119.95.

Beacon Roofing Supply Price Performance

Shares of NASDAQ:BECN opened at $111.10 on Friday. 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 firm has a market cap of $6.84 billion, a price-to-earnings ratio of 18.99 and a beta of 1.63. The business has a 50-day simple moving average of $113.67 and a two-hundred day simple moving average of $102.27. Beacon Roofing Supply has a fifty-two week low of $77.54 and a fifty-two week high of $121.42.

Beacon Roofing Supply (NASDAQ:BECN) last released 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 company had revenue of $2.40 billion for the quarter, compared to analysts’ expectations of $2.43 billion. Beacon Roofing Supply had a net margin of 3.86% and a return on equity of 25.32%. On average, analysts expect that Beacon Roofing Supply will post 7.22 earnings per share for the current year.

Institutional Trading of Beacon Roofing Supply

A number of hedge funds and other institutional investors have recently modified their holdings of BECN. US Bancorp DE boosted its holdings in Beacon Roofing Supply by 2.3% in the 3rd quarter. US Bancorp DE now owns 5,255 shares of the company’s stock worth $454,000 after buying an additional 116 shares during the period. Equitable Trust Co. lifted its position in shares of Beacon Roofing Supply by 1.7% in the fourth quarter. Equitable Trust Co. now owns 7,228 shares of the company’s stock valued at $734,000 after acquiring an additional 122 shares in the last quarter. Nomura Asset Management Co. Ltd. boosted its stake in shares of Beacon Roofing Supply by 26.3% in the fourth quarter. Nomura Asset Management Co. Ltd. now owns 720 shares of the company’s stock worth $73,000 after acquiring an additional 150 shares during the period. PNC Financial Services Group Inc. grew its position in shares of Beacon Roofing Supply by 38.1% during the fourth quarter. PNC Financial Services Group Inc. now owns 591 shares of the company’s stock worth $60,000 after purchasing an additional 163 shares in the last quarter. Finally, Cornerstone Investment Partners LLC raised its stake in Beacon Roofing Supply by 3.6% during the 4th quarter. Cornerstone Investment Partners LLC now owns 4,730 shares of the company’s stock valued at $480,000 after purchasing an additional 166 shares during the period. 98.45% of the stock is owned by hedge funds and other institutional investors.

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.