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

Investment analysts at StockNews.com began coverage on shares of Beacon Roofing Supply (NASDAQ:BECN) in a research note issued on Tuesday. The firm set a “sell” rating on the stock.

Several other research analysts also recently weighed in on BECN. Stifel Nicolaus downgraded shares of Beacon Roofing Supply from a “buy” rating to a “hold” rating and reduced their price target for the stock from $131.00 to $122.55 in a research report on Friday, February 7th. William Blair restated a “market perform” rating on shares of Beacon Roofing Supply in a research report on Thursday, March 20th. Loop Capital reaffirmed a “hold” rating and issued a $124.00 price target on shares of Beacon Roofing Supply in a research note on Friday. Zelman & Associates downgraded Beacon Roofing Supply from a “strong-buy” rating to a “hold” rating in a research note on Thursday, January 16th. Finally, Benchmark restated a “buy” rating and issued a $140.00 price objective on shares of Beacon Roofing Supply in a report on Monday, March 3rd. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $120.95.

Beacon Roofing Supply Price Performance

NASDAQ:BECN opened at $123.82 on Tuesday. The company has a quick ratio of 1.14, a current ratio of 1.91 and a debt-to-equity ratio of 1.60. Beacon Roofing Supply has a 52 week low of $77.54 and a 52 week high of $123.90. The stock’s 50-day moving average price is $117.72 and its 200-day moving average price is $105.01. The stock has a market capitalization of $7.63 billion, a PE ratio of 21.17 and a beta of 1.63.

Beacon Roofing Supply (NASDAQ:BECN) last announced its earnings results 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). 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 for the quarter, compared to analyst estimates of $2.43 billion. As a group, equities analysts expect that Beacon Roofing Supply will post 7.22 EPS for the current fiscal year.

Hedge Funds Weigh In On Beacon Roofing Supply

Several institutional investors and hedge funds have recently bought and sold shares of the company. SBI Securities Co. Ltd. purchased a new stake in shares of Beacon Roofing Supply during the 4th quarter valued at approximately $31,000. Quarry LP lifted its stake in shares of Beacon Roofing Supply by 180.7% in the 3rd quarter. Quarry LP now owns 306 shares of the company’s stock valued at $26,000 after purchasing an additional 197 shares during the last quarter. Harvest Fund Management Co. Ltd purchased a new position in shares of Beacon Roofing Supply during the 3rd quarter worth $28,000. Johnson Financial Group Inc. acquired a new stake in shares of Beacon Roofing Supply during the 4th quarter worth about $54,000. Finally, PNC Financial Services Group Inc. raised its holdings 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 period. 98.45% of the stock is currently owned by institutional investors and hedge funds.

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.