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

Analysts at StockNews.com began coverage on shares of Beacon Roofing Supply (NASDAQ:BECN) in a research report issued on Sunday. The firm set a “sell” rating on the stock.

BECN has been the subject of a number of other reports. Stephens restated an “equal weight” rating and issued a $103.00 price target on shares of Beacon Roofing Supply in a research report on Tuesday, November 19th. JPMorgan Chase & Co. raised their price target on Beacon Roofing Supply from $119.00 to $136.00 and gave the company an “overweight” rating in a research note on Tuesday, November 19th. BMO Capital Markets dropped their target price on 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. Robert W. Baird increased 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, Zelman & Associates lowered shares of Beacon Roofing Supply from a “strong-buy” rating to a “hold” rating in a report on Thursday, January 16th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and six have given a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $119.95.

Beacon Roofing Supply Price Performance

Shares of NASDAQ:BECN opened at $118.52 on Friday. The firm’s 50 day moving average price is $113.67 and its 200-day moving average price is $102.50. The stock has a market capitalization of $7.30 billion, a PE ratio of 20.26 and a beta of 1.63. Beacon Roofing Supply has a twelve month low of $77.54 and a twelve month high of $121.42. The company has a quick ratio of 1.14, a current ratio of 1.91 and a debt-to-equity ratio of 1.60.

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

Institutional Trading of Beacon Roofing Supply

A number of institutional investors have recently bought and sold shares of BECN. Quarry LP lifted its position 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 buying an additional 197 shares during the last quarter. Harvest Fund Management Co. Ltd purchased a new stake in Beacon Roofing Supply in the third quarter valued at $28,000. SBI Securities Co. Ltd. acquired a new position in Beacon Roofing Supply in the fourth quarter valued at $31,000. Johnson Financial Group Inc. purchased a new position in shares of Beacon Roofing Supply during the fourth quarter worth about $54,000. Finally, PNC Financial Services Group Inc. increased its position in shares of Beacon Roofing Supply by 38.1% during the fourth quarter. PNC Financial Services Group Inc. now owns 591 shares of the company’s stock worth $60,000 after purchasing an additional 163 shares in the last quarter. 98.45% of the stock is owned by hedge funds and other 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.