StockNews.com Begins Coverage on Beacon Roofing Supply (NASDAQ:BECN)

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

Several other analysts have also weighed in on BECN. Benchmark reiterated a “buy” rating and set a $140.00 target price on shares of Beacon Roofing Supply in a research report on Monday, March 3rd. JPMorgan Chase & Co. lifted their price objective on Beacon Roofing Supply from $119.00 to $136.00 and gave the company an “overweight” rating in a report on Tuesday, November 19th. Stephens reissued an “equal weight” rating and issued a $103.00 target price on shares of Beacon Roofing Supply in a report on Tuesday, November 19th. BMO Capital Markets decreased their price target on Beacon Roofing Supply from $136.00 to $130.00 and set an “outperform” rating on the stock in a research note on Tuesday, March 4th. Finally, Stifel Nicolaus cut Beacon Roofing Supply from a “buy” rating to a “hold” rating and lowered their price target for the company from $131.00 to $122.55 in a research report on Friday, February 7th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $119.95.

Beacon Roofing Supply Price Performance

Shares of BECN stock opened at $121.53 on Monday. Beacon Roofing Supply has a 12 month low of $77.54 and a 12 month high of $122.22. The company has a market capitalization of $7.48 billion, a P/E ratio of 20.77 and a beta of 1.63. The stock has a 50 day moving average of $116.16 and a two-hundred day moving average of $103.97. The company has a current ratio of 1.91, a quick ratio of 1.14 and a debt-to-equity ratio of 1.60.

Beacon Roofing Supply (NASDAQ:BECN) last issued its earnings results on Thursday, February 27th. The company reported $1.65 EPS for the quarter, missing the consensus estimate of $1.66 by ($0.01). Beacon Roofing Supply had a return on equity of 25.32% and a net margin of 3.86%. The firm had revenue of $2.40 billion during the quarter, compared to the consensus estimate of $2.43 billion. As a group, equities analysts expect that Beacon Roofing Supply will post 7.22 EPS for the current year.

Institutional Trading of Beacon Roofing Supply

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. KBC Group NV grew its holdings in Beacon Roofing Supply by 20.8% during the 3rd quarter. KBC Group NV now owns 1,728 shares of the company’s stock worth $149,000 after acquiring an additional 297 shares during the last quarter. Huntington National Bank grew its stake in shares of Beacon Roofing Supply by 14.1% during the third quarter. Huntington National Bank now owns 1,668 shares of the company’s stock valued at $144,000 after purchasing an additional 206 shares during the last quarter. Natixis Advisors LLC grew its stake in shares of Beacon Roofing Supply by 21.1% during the third quarter. Natixis Advisors LLC now owns 214,368 shares of the company’s stock valued at $18,528,000 after purchasing an additional 37,347 shares during the last quarter. Thrivent Financial for Lutherans increased its holdings in shares of Beacon Roofing Supply by 1.4% in the third quarter. Thrivent Financial for Lutherans now owns 162,694 shares of the company’s stock valued at $14,061,000 after purchasing an additional 2,284 shares in the last quarter. Finally, B. Metzler seel. Sohn & Co. Holding AG bought a new position in Beacon Roofing Supply in the 3rd quarter worth approximately $4,331,000. 98.45% of the stock is currently 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.