Beacon Roofing Supply, Inc. (NASDAQ:BECN) Receives Consensus Rating of “Moderate Buy” from Analysts

Shares of Beacon Roofing Supply, Inc. (NASDAQ:BECN) have earned a consensus rating of “Moderate Buy” from the ten brokerages that are covering the firm, Marketbeat.com reports. Four analysts have rated the stock with a hold rating and six have given a buy rating to the company. The average 12-month price target among brokers that have updated their coverage on the stock in the last year is $120.17.

BECN has been the topic of a number of research analyst reports. Benchmark reiterated a “buy” rating and issued a $140.00 price target on shares of Beacon Roofing Supply in a report on Friday, November 1st. JPMorgan Chase & Co. lifted their target price on Beacon Roofing Supply from $119.00 to $136.00 and gave the company an “overweight” rating in a report on Tuesday, November 19th. BMO Capital Markets upped their price target on Beacon Roofing Supply from $125.00 to $136.00 and gave the stock an “outperform” rating in a research note on Thursday, January 16th. StockNews.com started coverage on Beacon Roofing Supply in a research note on Friday, February 21st. They issued a “sell” rating on the stock. Finally, Stifel Nicolaus cut Beacon Roofing Supply from a “buy” rating to a “hold” rating and decreased their target price for the stock from $131.00 to $122.55 in a report on Friday, February 7th.

Beacon Roofing Supply Trading Down 0.6 %

Shares of Beacon Roofing Supply stock opened at $115.32 on Friday. The firm has a market cap of $7.10 billion, a PE ratio of 19.71 and a beta of 1.62. The company has a quick ratio of 1.14, a current ratio of 1.91 and a debt-to-equity ratio of 1.60. Beacon Roofing Supply has a fifty-two week low of $77.54 and a fifty-two week high of $121.42. The business’s fifty day moving average is $112.01 and its two-hundred day moving average is $101.05.

Beacon Roofing Supply (NASDAQ:BECN) last issued 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 business had revenue of $2.40 billion during 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%. Analysts anticipate that Beacon Roofing Supply will post 7.22 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. SBI Securities Co. Ltd. purchased a new stake in Beacon Roofing Supply during the 4th quarter worth $31,000. Blue Trust Inc. grew its stake in shares of Beacon Roofing Supply by 222.1% during the third quarter. Blue Trust Inc. now owns 306 shares of the company’s stock valued at $28,000 after acquiring an additional 211 shares in the last quarter. Quarry LP increased its position 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 acquiring an additional 197 shares during the last quarter. Harvest Fund Management Co. Ltd acquired a new position in shares of Beacon Roofing Supply in the third quarter worth about $28,000. Finally, Johnson Financial Group Inc. acquired a new position in shares of Beacon Roofing Supply in the fourth quarter worth about $54,000. 98.45% of the stock is owned by institutional investors and hedge funds.

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.