Beacon Roofing Supply (NASDAQ:BECN) Earns Market Perform Rating from William Blair

William Blair restated their market perform rating on shares of Beacon Roofing Supply (NASDAQ:BECN) in a research report sent to investors on Thursday,Benzinga reports.

Other analysts have also recently issued research reports about the stock. Benchmark reissued a “buy” rating and issued a $140.00 price objective on shares of Beacon Roofing Supply in a report on Monday, March 3rd. BMO Capital Markets cut their price target on Beacon Roofing Supply from $136.00 to $130.00 and set an “outperform” rating for the company in a research note on Tuesday, March 4th. Zelman & Associates downgraded Beacon Roofing Supply from a “strong-buy” rating to a “hold” rating in a research report on Thursday, January 16th. Robert W. Baird lifted their price objective on Beacon Roofing Supply from $120.00 to $124.00 and gave the company an “outperform” rating in a report on Friday, February 28th. Finally, Stifel Nicolaus lowered 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. One investment analyst has rated the stock with a sell rating, five have given a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $119.95.

Beacon Roofing Supply Price Performance

Shares of NASDAQ BECN opened at $123.83 on Thursday. The firm has a market cap of $7.63 billion, a P/E ratio of 21.17 and a beta of 1.63. The business’s 50 day moving average is $116.92 and its 200-day moving average is $104.23. 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 has a 1-year low of $77.54 and a 1-year high of $123.90.

Beacon Roofing Supply (NASDAQ:BECN) last issued its quarterly earnings data on Thursday, February 27th. The company reported $1.65 EPS for the quarter, missing analysts’ consensus estimates 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 firm had revenue of $2.40 billion during the quarter, compared to analyst estimates of $2.43 billion. Equities research analysts predict that Beacon Roofing Supply will post 7.22 earnings per share for the current year.

Hedge Funds Weigh In On Beacon Roofing Supply

A number of institutional investors have recently added to or reduced their stakes in BECN. SBI Securities Co. Ltd. acquired a new stake in Beacon Roofing Supply in the fourth quarter valued at approximately $31,000. Quarry LP lifted its stake in shares of Beacon Roofing Supply by 180.7% in the 3rd quarter. Quarry LP now owns 306 shares of the company’s stock valued at $26,000 after acquiring an additional 197 shares during the last quarter. Harvest Fund Management Co. Ltd bought a new position in shares of Beacon Roofing Supply in the 3rd quarter valued at $28,000. Johnson Financial Group Inc. acquired a new stake in shares of Beacon Roofing Supply during the 4th quarter valued at $54,000. Finally, PNC Financial Services Group Inc. grew its position in Beacon Roofing Supply by 38.1% during the 4th quarter. PNC Financial Services Group Inc. now owns 591 shares of the company’s stock worth $60,000 after acquiring an additional 163 shares during the last quarter. 98.45% of the stock is currently 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.