Beacon Roofing Supply (NASDAQ:BECN) Research Coverage Started at StockNews.com

StockNews.com initiated coverage on shares of Beacon Roofing Supply (NASDAQ:BECN) in a research note issued to investors on Wednesday morning. The firm issued a sell rating on the stock.

A number of other research firms have also recently commented on BECN. Stifel Nicolaus cut Beacon Roofing Supply from a “buy” rating to a “hold” rating and cut their target price for the stock from $131.00 to $122.55 in a research report on Friday, February 7th. BMO Capital Markets cut their price target on Beacon Roofing Supply from $136.00 to $130.00 and set an “outperform” rating on the stock in a research report on Tuesday, March 4th. William Blair reissued a “market perform” rating on shares of Beacon Roofing Supply in a report on Thursday, March 20th. Loop Capital restated a “hold” rating and set a $124.00 target price on shares of Beacon Roofing Supply in a research report on Friday, March 21st. Finally, Raymond James downgraded shares of Beacon Roofing Supply from a “moderate buy” rating to a “hold” rating in a research report on Friday, March 21st. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $122.10.

Beacon Roofing Supply Stock Down 1.0 %

Beacon Roofing Supply stock opened at $122.43 on Wednesday. The stock has a market cap of $7.56 billion, a PE ratio of 20.93 and a beta of 1.31. The company has a debt-to-equity ratio of 1.60, a current ratio of 1.91 and a quick ratio of 1.14. The stock’s fifty day moving average is $119.17 and its two-hundred day moving average is $107.31. Beacon Roofing Supply has a 1-year low of $77.54 and a 1-year high of $123.90.

Beacon Roofing Supply (NASDAQ:BECN) last issued 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). The business had revenue of $2.40 billion for the quarter, compared to analyst estimates of $2.43 billion. Beacon Roofing Supply had a return on equity of 25.32% and a net margin of 3.86%. On average, sell-side analysts expect that Beacon Roofing Supply will post 7.22 EPS for the current fiscal year.

Institutional Trading of Beacon Roofing Supply

Hedge funds and other institutional investors have recently made changes to their positions in the company. BNP Paribas Financial Markets lifted its position in Beacon Roofing Supply by 23.0% in the third quarter. BNP Paribas Financial Markets now owns 42,441 shares of the company’s stock valued at $3,668,000 after purchasing an additional 7,924 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of Beacon Roofing Supply by 14.3% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 14,605 shares of the company’s stock valued at $1,262,000 after buying an additional 1,828 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in shares of Beacon Roofing Supply by 0.5% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 135,473 shares of the company’s stock valued at $11,709,000 after buying an additional 647 shares in the last quarter. PEAK6 Investments LLC boosted its stake in shares of Beacon Roofing Supply by 88.6% in the third quarter. PEAK6 Investments LLC now owns 6,655 shares of the company’s stock valued at $575,000 after buying an additional 3,127 shares in the last quarter. Finally, Captrust Financial Advisors grew its holdings in Beacon Roofing Supply by 9.2% during the third quarter. Captrust Financial Advisors now owns 22,878 shares of the company’s stock worth $1,977,000 after acquiring an additional 1,937 shares during the period. Hedge funds and other 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.