BMO Capital Markets Cuts Beacon Roofing Supply (NASDAQ:BECN) Price Target to $130.00

Beacon Roofing Supply (NASDAQ:BECN) had its price target cut by BMO Capital Markets from $136.00 to $130.00 in a research note published on Tuesday,Benzinga reports. They currently have an outperform rating on the stock.

BECN has been the subject of a number of other reports. Stephens reaffirmed an “equal weight” rating and set a $103.00 price objective on shares of Beacon Roofing Supply in a research report on Tuesday, November 19th. Benchmark reaffirmed a “buy” rating and set a $140.00 target price on shares of Beacon Roofing Supply in a report on Monday. Zelman & Associates cut shares of Beacon Roofing Supply from a “strong-buy” rating to a “hold” rating in a report on Thursday, January 16th. Robert W. Baird raised their price objective on shares of Beacon Roofing Supply from $120.00 to $124.00 and gave the stock an “outperform” rating in a research report on Friday, February 28th. Finally, Stifel Nicolaus downgraded Beacon Roofing Supply from a “buy” rating to a “hold” rating and decreased their target price for the company from $131.00 to $122.55 in a research report on Friday, February 7th. One equities research 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. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $119.95.

Beacon Roofing Supply Trading Down 1.6 %

Shares of NASDAQ:BECN opened at $112.03 on Tuesday. Beacon Roofing Supply has a 52-week low of $77.54 and a 52-week high of $121.42. The company has a debt-to-equity ratio of 1.60, a quick ratio of 1.14 and a current ratio of 1.91. The company has a market capitalization of $6.90 billion, a P/E ratio of 19.15 and a beta of 1.63. The company has a 50-day simple moving average of $113.25 and a 200 day simple moving average of $102.03.

Beacon Roofing Supply (NASDAQ:BECN) last released its quarterly earnings data 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 net margin of 3.86% and a return on equity of 25.32%. Sell-side analysts forecast that Beacon Roofing Supply will post 7.22 earnings per share for the current year.

Institutional Investors Weigh In On Beacon Roofing Supply

Institutional investors have recently made changes to their positions in the stock. US Bancorp DE raised its holdings in Beacon Roofing Supply by 2.3% in the 3rd quarter. US Bancorp DE now owns 5,255 shares of the company’s stock valued at $454,000 after acquiring an additional 116 shares in the last quarter. Fiera Capital Corp bought a new position in shares of Beacon Roofing Supply in the third quarter worth $1,723,000. Equitable Trust Co. raised its stake in Beacon Roofing Supply by 2.2% in the third quarter. Equitable Trust Co. now owns 7,106 shares of the company’s stock valued at $614,000 after purchasing an additional 156 shares in the last quarter. Meritage Portfolio Management lifted its position in Beacon Roofing Supply by 11.4% during the third quarter. Meritage Portfolio Management now owns 4,002 shares of the company’s stock worth $346,000 after purchasing an additional 408 shares during the period. Finally, WCM Investment Management LLC grew its stake in Beacon Roofing Supply by 1.6% during the third quarter. WCM Investment Management LLC now owns 524,985 shares of the company’s stock worth $46,052,000 after buying an additional 8,054 shares in the last quarter. 98.45% of the stock is currently owned by institutional investors.

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.