Beacon Roofing Supply (NASDAQ:BECN) Coverage Initiated by Analysts at StockNews.com

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

Several other research firms have also weighed in on BECN. Stephens reiterated an “equal weight” rating and set a $103.00 target price on shares of Beacon Roofing Supply in a report on Tuesday, November 19th. Stifel Nicolaus lowered shares of Beacon Roofing Supply from a “buy” rating to a “hold” rating and lowered their price objective for the stock from $131.00 to $122.55 in a research note on Friday, February 7th. Benchmark reaffirmed a “buy” rating and set a $140.00 price target on shares of Beacon Roofing Supply in a report on Monday, March 3rd. JPMorgan Chase & Co. upped their target price on Beacon Roofing Supply from $119.00 to $136.00 and gave the company an “overweight” rating in a research report on Tuesday, November 19th. Finally, Zelman & Associates lowered shares of Beacon Roofing Supply from a “strong-buy” rating to a “hold” rating in a research report on Thursday, January 16th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, Beacon Roofing Supply presently has an average rating of “Hold” and an average target price of $119.95.

Beacon Roofing Supply Stock Performance

Beacon Roofing Supply stock opened at $118.34 on Monday. 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 current ratio of 1.91 and a quick ratio of 1.14. The stock has a fifty day moving average price of $115.41 and a two-hundred day moving average price of $103.53. The firm has a market capitalization of $7.29 billion, a P/E ratio of 20.23 and a beta of 1.63.

Beacon Roofing Supply (NASDAQ:BECN) last announced its 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). The company had revenue of $2.40 billion during the quarter, compared to the consensus estimate of $2.43 billion. Beacon Roofing Supply had a return on equity of 25.32% and a net margin of 3.86%. As a group, analysts anticipate that Beacon Roofing Supply will post 7.22 EPS for the current fiscal year.

Hedge Funds Weigh In On Beacon Roofing Supply

Institutional investors and hedge funds have recently bought and sold shares of the company. Quarry LP raised its stake in shares of Beacon Roofing Supply by 180.7% during the 3rd quarter. Quarry LP now owns 306 shares of the company’s stock valued at $26,000 after purchasing an additional 197 shares during the period. Harvest Fund Management Co. Ltd bought a new position in shares of Beacon Roofing Supply during the third quarter valued at about $28,000. SBI Securities Co. Ltd. bought a new stake in Beacon Roofing Supply in the fourth quarter valued at $31,000. Johnson Financial Group Inc. bought a new stake in shares of Beacon Roofing Supply during the 4th quarter valued at about $54,000. Finally, PNC Financial Services Group Inc. grew its holdings in shares of Beacon Roofing Supply by 38.1% during the 4th quarter. PNC Financial Services Group Inc. now owns 591 shares of the company’s stock worth $60,000 after acquiring an additional 163 shares during the period. 98.45% of the stock is 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.