Beacon Roofing Supply (NASDAQ:BECN) Lowered to “Hold” Rating by Baird R W

Beacon Roofing Supply (NASDAQ:BECN) was downgraded by investment analysts at Baird R W from a “strong-buy” rating to a “hold” rating in a research note issued on Thursday,Zacks.com reports.

BECN has been the subject of several other reports. Benchmark reiterated a “buy” rating and issued a $140.00 price target on shares of Beacon Roofing Supply in a report on Monday, March 3rd. Zelman & Associates downgraded Beacon Roofing Supply from a “strong-buy” rating to a “hold” rating in a report on Thursday, January 16th. StockNews.com began coverage on Beacon Roofing Supply in a research report on Monday, March 17th. They set a “sell” rating on the stock. 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. Finally, Robert W. Baird upped their target price on shares of Beacon Roofing Supply from $120.00 to $124.00 and gave the company an “outperform” rating in a research note on Friday, February 28th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, Beacon Roofing Supply presently has a consensus rating of “Hold” and an average price target of $120.95.

Beacon Roofing Supply Stock Down 0.0 %

Shares of NASDAQ:BECN opened at $123.77 on Thursday. The stock has a 50-day simple moving average of $117.35 and a 200-day simple moving average of $104.46. The stock has a market capitalization of $7.62 billion, a P/E ratio of 21.16 and a beta of 1.63. Beacon Roofing Supply has a 1 year low of $77.54 and a 1 year high of $123.90. The company has a debt-to-equity ratio of 1.60, a quick ratio of 1.14 and a current ratio of 1.91.

Beacon Roofing Supply (NASDAQ:BECN) last released its quarterly earnings data 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). 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 analysts’ expectations of $2.43 billion. Equities analysts forecast that Beacon Roofing Supply will post 7.22 earnings per share for the current year.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in BECN. Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in shares of Beacon Roofing Supply in the 4th quarter valued at about $3,184,000. Polar Asset Management Partners Inc. acquired a new stake in Beacon Roofing Supply during the fourth quarter valued at approximately $4,510,000. Forum Financial Management LP acquired a new stake in Beacon Roofing Supply during the fourth quarter valued at approximately $224,000. Amiral Gestion bought a new position in Beacon Roofing Supply during the 4th quarter worth approximately $1,478,000. Finally, Public Employees Retirement System of Ohio acquired a new position in shares of Beacon Roofing Supply in the 4th quarter worth approximately $9,873,000. 98.45% of the stock is currently 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.