Loop Capital Reaffirms Hold Rating for Beacon Roofing Supply (NASDAQ:BECN)

Beacon Roofing Supply (NASDAQ:BECN)‘s stock had its “hold” rating restated by investment analysts at Loop Capital in a research report issued to clients and investors on Friday,Benzinga reports. They currently have a $124.00 price objective on the stock. Loop Capital’s target price would suggest a potential upside of 0.14% from the company’s current price.

BECN has been the topic of several other research reports. 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. William Blair reissued a “market perform” rating on shares of Beacon Roofing Supply in a research report on Thursday. StockNews.com initiated coverage on Beacon Roofing Supply in a research report on Monday. They set a “sell” rating for the company. Robert W. Baird boosted their target price on Beacon Roofing Supply from $120.00 to $124.00 and gave the stock an “outperform” rating in a report on Friday, February 28th. Finally, Stifel Nicolaus downgraded Beacon Roofing Supply from a “buy” rating to a “hold” rating and reduced their price target for the company from $131.00 to $122.55 in a report on Friday, February 7th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $120.95.

Beacon Roofing Supply Stock Up 1.9 %

Shares of NASDAQ BECN opened at $123.83 on Friday. The firm has a fifty day simple moving average of $116.92 and a two-hundred day simple moving average of $104.23. The firm has a market capitalization of $7.63 billion, a PE ratio of 21.17 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 issued its quarterly earnings results on Thursday, February 27th. The company reported $1.65 earnings per share for the quarter, missing the consensus estimate of $1.66 by ($0.01). The firm had revenue of $2.40 billion during the quarter, compared to analysts’ expectations of $2.43 billion. Beacon Roofing Supply had a return on equity of 25.32% and a net margin of 3.86%. Equities analysts expect that Beacon Roofing Supply will post 7.22 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in Beacon Roofing Supply in the 4th quarter worth approximately $3,184,000. Polar Asset Management Partners Inc. purchased a new position in shares of Beacon Roofing Supply in the 4th quarter worth $4,510,000. Forum Financial Management LP purchased a new position in shares of Beacon Roofing Supply in the 4th quarter worth $224,000. Amiral Gestion bought a new stake in shares of Beacon Roofing Supply in the fourth quarter worth $1,478,000. Finally, Public Employees Retirement System of Ohio purchased a new stake in Beacon Roofing Supply during the fourth quarter valued at $9,873,000. 98.45% of the stock is owned by hedge funds and other 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.