Beacon Roofing Supply (NASDAQ:BECN) Earns Sell Rating from Analysts at StockNews.com

StockNews.com began coverage on shares of Beacon Roofing Supply (NASDAQ:BECN) in a research note published on Thursday morning. The brokerage issued a sell rating on the stock.

BECN has been the subject of a number of other reports. Raymond James lowered shares of Beacon Roofing Supply from a “moderate buy” rating to a “hold” rating in a report on Friday, March 21st. Stifel Nicolaus downgraded shares of Beacon Roofing Supply from a “buy” rating to a “hold” rating and reduced their target price for the stock from $131.00 to $122.55 in a report on Friday, February 7th. Baird R W downgraded shares of Beacon Roofing Supply from a “strong-buy” rating to a “hold” rating in a report on Thursday, March 20th. Robert W. Baird lifted their price target on Beacon Roofing Supply from $120.00 to $124.00 and gave the stock an “outperform” rating in a research report on Friday, February 28th. Finally, Loop Capital restated a “hold” rating and set a $124.00 price objective on shares of Beacon Roofing Supply in a research report on Friday, March 21st. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and four have issued a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $122.10.

Beacon Roofing Supply Stock Performance

Shares of NASDAQ BECN opened at $123.15 on Thursday. The stock has a market cap of $7.61 billion, a PE ratio of 21.05 and a beta of 1.31. Beacon Roofing Supply has a 1 year low of $77.54 and a 1 year high of $123.90. The firm has a fifty day moving average price of $119.71 and a 200-day moving average price of $109.10. The company has a debt-to-equity ratio of 1.60, a current ratio of 1.91 and a quick ratio of 1.14.

Beacon Roofing Supply (NASDAQ:BECN) last issued its earnings results 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 net margin of 3.86% and a return on equity of 25.32%. The business had revenue of $2.40 billion for the quarter, compared to the consensus estimate of $2.43 billion. Equities analysts anticipate that Beacon Roofing Supply will post 7.22 earnings per share for the current fiscal year.

Insider Buying and Selling at Beacon Roofing Supply

In other Beacon Roofing Supply news, insider Jonathan Stuart Bennett sold 8,487 shares of the stock in a transaction dated Monday, April 7th. The stock was sold at an average price of $122.14, for a total value of $1,036,602.18. Following the completion of the sale, the insider now directly owns 22,642 shares in the company, valued at approximately $2,765,493.88. This trade represents a 27.26 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Clement Munroe Best III sold 29,724 shares of the business’s stock in a transaction dated Friday, April 4th. The stock was sold at an average price of $123.05, for a total value of $3,657,538.20. Following the sale, the insider now owns 87,943 shares in the company, valued at $10,821,386.15. The trade was a 25.26 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 54,806 shares of company stock valued at $6,745,448. 1.30% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the company. Quarry LP boosted its holdings in Beacon Roofing Supply by 180.7% in the third 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. SBI Securities Co. Ltd. purchased a new stake in shares of Beacon Roofing Supply in the fourth quarter worth about $31,000. Versant Capital Management Inc grew its holdings in Beacon Roofing Supply by 133.7% during the first quarter. Versant Capital Management Inc now owns 388 shares of the company’s stock worth $48,000 after acquiring an additional 222 shares during the period. Johnson Financial Group Inc. acquired a new stake in Beacon Roofing Supply during the fourth quarter worth about $54,000. Finally, PNC Financial Services Group Inc. raised its position in Beacon Roofing Supply by 38.1% during the fourth quarter. PNC Financial Services Group Inc. now owns 591 shares of the company’s stock valued at $60,000 after acquiring an additional 163 shares in the last quarter. 98.45% of the stock is 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.