Beacon Roofing Supply (NASDAQ:BECN) Downgraded by Baird R W to Hold

Baird R W lowered shares of Beacon Roofing Supply (NASDAQ:BECN) from a strong-buy rating to a hold rating in a research note issued to investors on Thursday,Zacks.com reports.

Several other analysts also recently commented on the stock. BMO Capital Markets cut their price objective on shares of Beacon Roofing Supply from $136.00 to $130.00 and set an “outperform” rating on the stock in a research report on Tuesday, March 4th. Loop Capital reiterated a “hold” rating and set a $124.00 price target on shares of Beacon Roofing Supply in a report on Friday. StockNews.com began coverage on shares of Beacon Roofing Supply in a report on Monday, March 17th. They issued a “sell” rating for the company. Benchmark reiterated a “buy” rating and set a $140.00 target price on shares of Beacon Roofing Supply in a research note on Monday, March 3rd. Finally, William Blair restated a “market perform” rating on shares of Beacon Roofing Supply in a research note on Thursday. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, Beacon Roofing Supply presently has an average rating of “Hold” and an average target price of $120.95.

Beacon Roofing Supply Stock Performance

Shares of BECN stock opened at $123.77 on Thursday. The company’s fifty day moving average price is $117.35 and its 200-day moving average price is $104.46. The stock has a market cap of $7.62 billion, a PE ratio of 21.16 and a beta of 1.63. 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 12 month low of $77.54 and a 12 month high of $123.90.

Beacon Roofing Supply (NASDAQ:BECN) last announced its quarterly earnings data on Thursday, February 27th. The company reported $1.65 earnings per share for the quarter, missing analysts’ consensus estimates 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 business had revenue of $2.40 billion during the quarter, compared to analysts’ expectations of $2.43 billion. On average, equities analysts expect that Beacon Roofing Supply will post 7.22 EPS for the current fiscal year.

Institutional Trading of Beacon Roofing Supply

A number of large investors have recently made changes to their positions in the business. Vanguard Group Inc. grew its position in Beacon Roofing Supply by 0.4% in the fourth quarter. Vanguard Group Inc. now owns 6,509,495 shares of the company’s stock worth $661,235,000 after acquiring an additional 24,027 shares in the last quarter. FMR LLC increased its position in shares of Beacon Roofing Supply by 17.6% during the 3rd quarter. FMR LLC now owns 6,435,880 shares of the company’s stock valued at $556,253,000 after purchasing an additional 963,633 shares during the last quarter. Boston Partners raised its holdings in Beacon Roofing Supply by 1.3% during the 4th quarter. Boston Partners now owns 4,531,106 shares of the company’s stock valued at $462,417,000 after buying an additional 59,630 shares during the period. Frontier Capital Management Co. LLC boosted its stake in Beacon Roofing Supply by 16.0% during the fourth quarter. Frontier Capital Management Co. LLC now owns 2,384,793 shares of the company’s stock worth $242,247,000 after buying an additional 329,047 shares during the period. Finally, State Street Corp increased its position in Beacon Roofing Supply by 1.1% during the third quarter. State Street Corp now owns 1,471,500 shares of the company’s stock valued at $127,182,000 after acquiring an additional 15,505 shares during the last quarter. 98.45% of the stock is currently owned by 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.