Beacon Roofing Supply (NASDAQ:BECN) Cut to “Hold” at StockNews.com

StockNews.com lowered shares of Beacon Roofing Supply (NASDAQ:BECN) from a buy rating to a hold rating in a research report released on Monday.

BECN has been the topic of a number of other reports. BMO Capital Markets upped their price target on Beacon Roofing Supply from $95.00 to $120.00 and gave the company an outperform rating in a report on Thursday, April 11th. Loop Capital lifted their price target on shares of Beacon Roofing Supply from $110.00 to $115.00 and gave the stock a buy rating in a research note on Monday, April 1st. JPMorgan Chase & Co. lowered their price objective on shares of Beacon Roofing Supply from $103.00 to $97.00 and set an overweight rating on the stock in a research report on Thursday, January 11th. William Blair upgraded shares of Beacon Roofing Supply from a market perform rating to an outperform rating in a report on Monday, January 8th. Finally, Benchmark assumed coverage on shares of Beacon Roofing Supply in a research note on Thursday, April 18th. They set a buy rating and a $135.00 target price for the company. Three analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of Moderate Buy and a consensus price target of $107.64.

Beacon Roofing Supply Stock Down 1.7 %

BECN stock opened at $92.28 on Monday. Beacon Roofing Supply has a twelve month low of $57.88 and a twelve month high of $103.75. The company has a quick ratio of 1.06, a current ratio of 1.85 and a debt-to-equity ratio of 1.30. The firm has a market cap of $5.85 billion, a PE ratio of -146.48 and a beta of 1.59. The business has a 50 day moving average of $94.16 and a 200 day moving average of $86.48.

Beacon Roofing Supply (NASDAQ:BECN) last posted its quarterly earnings data on Tuesday, February 27th. The company reported $1.47 earnings per share for the quarter, missing analysts’ consensus estimates of $1.69 by ($0.22). Beacon Roofing Supply had a net margin of 4.47% and a return on equity of 26.31%. The company had revenue of $2.30 billion for the quarter, compared to the consensus estimate of $2.27 billion. During the same period last year, the business earned $1.18 EPS. The firm’s quarterly revenue was up 16.8% on a year-over-year basis. On average, research analysts forecast that Beacon Roofing Supply will post 7.78 EPS for the current fiscal year.

Insider Buying and Selling at Beacon Roofing Supply

In other news, insider Jason L. Taylor sold 1,805 shares of the firm’s stock in a transaction dated Thursday, March 21st. The stock was sold at an average price of $95.00, for a total value of $171,475.00. Following the transaction, the insider now owns 10,531 shares of the company’s stock, valued at $1,000,445. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, insider Jason L. Taylor sold 1,805 shares of the company’s stock in a transaction on Thursday, March 21st. The shares were sold at an average price of $95.00, for a total value of $171,475.00. Following the completion of the transaction, the insider now owns 10,531 shares of the company’s stock, valued at approximately $1,000,445. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Christopher Carl Nelson sold 3,268 shares of the stock in a transaction on Thursday, March 28th. The stock was sold at an average price of $93.87, for a total value of $306,767.16. Following the completion of the sale, the executive vice president now owns 176 shares of the company’s stock, valued at approximately $16,521.12. The disclosure for this sale can be found here. 1.30% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Beacon Roofing Supply

Institutional investors have recently bought and sold shares of the business. Vaughan Nelson Investment Management L.P. increased its stake in Beacon Roofing Supply by 4.3% in the 4th quarter. Vaughan Nelson Investment Management L.P. now owns 662,657 shares of the company’s stock worth $57,665,000 after buying an additional 27,185 shares in the last quarter. Deutsche Bank AG increased its stake in Beacon Roofing Supply by 25.2% in the 3rd quarter. Deutsche Bank AG now owns 30,866 shares of the company’s stock worth $2,382,000 after buying an additional 6,210 shares in the last quarter. Teacher Retirement System of Texas increased its stake in Beacon Roofing Supply by 80.2% in the 3rd quarter. Teacher Retirement System of Texas now owns 26,584 shares of the company’s stock worth $2,051,000 after buying an additional 11,828 shares in the last quarter. Qube Research & Technologies Ltd purchased a new stake in Beacon Roofing Supply in the 3rd quarter worth $6,442,000. Finally, Hsbc Holdings PLC grew its position in shares of Beacon Roofing Supply by 145.5% during the third quarter. Hsbc Holdings PLC now owns 75,186 shares of the company’s stock valued at $5,834,000 after purchasing an additional 44,564 shares in the last quarter. 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.