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

Baird R W cut shares of Beacon Roofing Supply (NASDAQ:BECN) from a strong-buy rating to a hold rating in a research report released on Thursday,Zacks.com reports.

Several other research analysts have also recently issued reports on the stock. Loop Capital reiterated a “hold” rating and set a $124.00 target price on shares of Beacon Roofing Supply in a report on Friday. StockNews.com assumed coverage on shares of Beacon Roofing Supply in a report on Monday, March 17th. They set a “sell” rating on the stock. Zelman & Associates lowered Beacon Roofing Supply from a “strong-buy” rating to a “hold” rating in a report on Thursday, January 16th. William Blair reiterated a “market perform” rating on shares of Beacon Roofing Supply in a report on Thursday. Finally, Stifel Nicolaus cut Beacon Roofing Supply from a “buy” rating to a “hold” rating and decreased their price objective for the stock from $131.00 to $122.55 in a research note on Friday, February 7th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $120.95.

Beacon Roofing Supply Trading Down 0.0 %

NASDAQ BECN opened at $123.77 on Thursday. The stock has a market cap of $7.62 billion, a PE ratio of 21.16 and a beta of 1.63. Beacon Roofing Supply has a 12 month low of $77.54 and a 12 month high of $123.90. The company’s 50-day moving average price is $117.35 and its 200-day moving average price is $104.46. The company has a current ratio of 1.91, a quick ratio of 1.14 and a debt-to-equity ratio of 1.60.

Beacon Roofing Supply (NASDAQ:BECN) last announced its quarterly earnings results on Thursday, February 27th. The company reported $1.65 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.66 by ($0.01). The firm had revenue of $2.40 billion during 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%. Equities research analysts forecast that Beacon Roofing Supply will post 7.22 earnings per share for the current year.

Institutional Trading of Beacon Roofing Supply

Several large investors have recently bought and sold shares of the stock. Quarry LP lifted its stake 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 buying an additional 197 shares during the period. Harvest Fund Management Co. Ltd acquired a new stake in Beacon Roofing Supply during the 3rd quarter worth about $28,000. SBI Securities Co. Ltd. purchased a new stake in Beacon Roofing Supply during the 4th quarter valued at about $31,000. Johnson Financial Group Inc. acquired a new position in shares of Beacon Roofing Supply in the fourth quarter valued at about $54,000. Finally, PNC Financial Services Group Inc. raised its stake in shares of Beacon Roofing Supply by 38.1% in 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 during the last quarter. Hedge funds and other institutional investors own 98.45% of the company’s stock.

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.