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

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

Several other analysts also recently commented on the stock. BMO Capital Markets reiterated a “market perform” rating and issued a $124.35 target price (down previously from $130.00) on shares of Beacon Roofing Supply in a report on Thursday, April 17th. Zelman & Associates cut shares of Beacon Roofing Supply from a “strong-buy” rating to a “hold” rating in a research report on Thursday, January 16th. Stifel Nicolaus downgraded Beacon Roofing Supply from a “buy” rating to a “hold” rating and decreased their price target for the company from $131.00 to $122.55 in a research report on Friday, February 7th. Benchmark restated a “buy” rating and issued a $140.00 price objective on shares of Beacon Roofing Supply in a research note on Monday, March 3rd. Finally, Robert W. Baird boosted their price target on shares of Beacon Roofing Supply from $120.00 to $124.00 and gave the stock an “outperform” rating in a report on Friday, February 28th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $124.78.

Beacon Roofing Supply Price Performance

Shares of NASDAQ BECN opened at $124.17 on Friday. The stock has a market cap of $7.67 billion, a price-to-earnings ratio of 21.23 and a beta of 1.31. 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 has a fifty-two week low of $77.54 and a fifty-two week high of $124.31. The firm’s 50-day simple moving average is $121.61 and its 200 day simple moving average is $112.98.

Beacon Roofing Supply (NASDAQ:BECN) last announced 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). The company had revenue of $2.40 billion for 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%. As a group, research analysts anticipate that Beacon Roofing Supply will post 7.22 earnings per share for the current fiscal year.

Insider Activity

In other Beacon Roofing Supply news, insider Jonathan Stuart Bennett sold 8,487 shares of the firm’s stock in a transaction on Monday, April 7th. The shares were sold at an average price of $122.14, for a total value of $1,036,602.18. Following the completion of the transaction, the insider now directly owns 22,642 shares of the company’s stock, valued at $2,765,493.88. This trade represents a 27.26 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Christopher Carl Nelson sold 16,595 shares of the company’s stock in a transaction on Thursday, April 3rd. The stock was sold at an average price of $123.61, for a total transaction of $2,051,307.95. Following the completion of the transaction, the executive vice president now directly owns 463 shares in the company, valued at approximately $57,231.43. The trade was a 97.29 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 54,806 shares of company stock worth $6,745,448. 1.30% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Beacon Roofing Supply

Several hedge funds and other institutional investors have recently added to or reduced their stakes in BECN. Tabor Asset Management LP purchased a new stake in shares of Beacon Roofing Supply in the 1st quarter valued at about $1,113,000. Sigma Planning Corp purchased a new stake in Beacon Roofing Supply in the first quarter valued at approximately $309,000. KBC Group NV lifted its position in Beacon Roofing Supply by 15.0% during the first quarter. KBC Group NV now owns 2,880 shares of the company’s stock valued at $356,000 after purchasing an additional 375 shares during the last quarter. Syquant Capital Sas purchased a new position in Beacon Roofing Supply in the 1st quarter worth approximately $18,503,000. Finally, Vaughan Nelson Investment Management L.P. increased its holdings in shares of Beacon Roofing Supply by 6.8% in the 1st quarter. Vaughan Nelson Investment Management L.P. now owns 1,052,274 shares of the company’s stock worth $130,166,000 after buying an additional 67,075 shares during the last quarter. 98.45% of the stock is currently owned by hedge funds and other 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.