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

Research analysts at StockNews.com initiated coverage on shares of Beacon Roofing Supply (NASDAQ:BECN) in a report issued on Monday. The firm set a “sell” rating on the stock.

Several other research analysts have also commented on the stock. Zelman & Associates lowered shares of Beacon Roofing Supply from a “strong-buy” rating to a “hold” rating in a research note on Thursday, January 16th. Robert W. Baird increased their price target on shares of Beacon Roofing Supply from $120.00 to $124.00 and gave the stock an “outperform” rating in a research note on Friday, February 28th. Benchmark reissued a “buy” rating and issued a $140.00 price target on shares of Beacon Roofing Supply in a research report on Monday, March 3rd. BMO Capital Markets decreased their price objective on shares of Beacon Roofing Supply from $136.00 to $130.00 and set an “outperform” rating for the company in a report on Tuesday, March 4th. Finally, Stephens reiterated an “equal weight” rating and issued a $103.00 target price on shares of Beacon Roofing Supply in a report on Tuesday, November 19th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, Beacon Roofing Supply has an average rating of “Hold” and a consensus price target of $119.95.

Beacon Roofing Supply Trading Up 1.6 %

NASDAQ BECN opened at $121.79 on Monday. Beacon Roofing Supply has a 1-year low of $77.54 and a 1-year high of $122.22. The company has a current ratio of 1.91, a quick ratio of 1.14 and a debt-to-equity ratio of 1.60. The company has a market capitalization of $7.50 billion, a PE ratio of 20.82 and a beta of 1.63. The firm’s fifty day simple moving average is $116.16 and its 200-day simple moving average is $103.97.

Beacon Roofing Supply (NASDAQ:BECN) last posted its quarterly earnings results 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 company had revenue of $2.40 billion during the quarter, compared to analyst estimates of $2.43 billion. As a group, sell-side analysts anticipate that Beacon Roofing Supply will post 7.22 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. SBI Securities Co. Ltd. acquired a new stake in Beacon Roofing Supply during the fourth quarter worth about $31,000. Quarry LP grew its holdings in shares of Beacon Roofing Supply by 180.7% during the 3rd quarter. Quarry LP now owns 306 shares of the company’s stock worth $26,000 after purchasing an additional 197 shares in the last quarter. Harvest Fund Management Co. Ltd bought a new stake in shares of Beacon Roofing Supply during the third quarter valued at approximately $28,000. Johnson Financial Group Inc. acquired a new position in shares of Beacon Roofing Supply in the fourth quarter valued at $54,000. Finally, PNC Financial Services Group Inc. raised its stake in shares of Beacon Roofing Supply by 38.1% in the fourth quarter. PNC Financial Services Group Inc. now owns 591 shares of the company’s stock valued at $60,000 after purchasing an additional 163 shares in the last quarter. Institutional investors and hedge funds 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.