Beacon Roofing Supply’s (BECN) Market Perform Rating Reiterated at William Blair

William Blair reaffirmed their market perform rating on shares of Beacon Roofing Supply (NASDAQ:BECN) in a report published on Thursday, MarketBeat Ratings reports.

Several other analysts have also recently issued reports on the company. 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 research note on Friday, February 28th. BMO Capital Markets reduced their price objective on Beacon Roofing Supply from $136.00 to $130.00 and set an “outperform” rating on the stock in a research note on Tuesday, March 4th. Benchmark reiterated a “buy” rating and issued a $140.00 price objective on shares of Beacon Roofing Supply in a research note on Monday, March 3rd. Zelman & Associates cut Beacon Roofing Supply from a “strong-buy” rating to a “hold” rating in a research note on Thursday, January 16th. Finally, StockNews.com assumed coverage on Beacon Roofing Supply in a research note on Monday, March 17th. They issued a “sell” rating on the stock. One research analyst has rated the stock with a sell rating, seven have given a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $120.95.

Beacon Roofing Supply Stock Down 0.0 %

NASDAQ:BECN opened at $123.77 on Thursday. The company has a quick ratio of 1.14, a current ratio of 1.91 and a debt-to-equity ratio of 1.60. The stock’s fifty day moving average is $117.35 and its two-hundred day moving average is $104.59. Beacon Roofing Supply has a 52 week low of $77.54 and a 52 week high of $123.90. The stock has a market capitalization of $7.62 billion, a price-to-earnings ratio of 21.16 and a beta of 1.63.

Beacon Roofing Supply (NASDAQ:BECN) last released its quarterly earnings results on Thursday, February 27th. The company reported $1.65 EPS for the quarter, missing analysts’ consensus estimates of $1.66 by ($0.01). The firm had revenue of $2.40 billion for the quarter, compared to analyst estimates of $2.43 billion. Beacon Roofing Supply had a return on equity of 25.32% and a net margin of 3.86%. Research analysts anticipate that Beacon Roofing Supply will post 7.22 EPS for the current year.

Hedge Funds Weigh In On Beacon Roofing Supply

Several hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. grew its holdings in shares of Beacon Roofing Supply by 0.4% during the fourth quarter. Vanguard Group Inc. now owns 6,509,495 shares of the company’s stock worth $661,235,000 after purchasing an additional 24,027 shares during the last quarter. FMR LLC grew its holdings in shares of Beacon Roofing Supply by 17.6% during the third quarter. FMR LLC now owns 6,435,880 shares of the company’s stock worth $556,253,000 after purchasing an additional 963,633 shares during the last quarter. Boston Partners grew its holdings in shares of Beacon Roofing Supply by 1.3% during the fourth quarter. Boston Partners now owns 4,531,106 shares of the company’s stock worth $462,417,000 after purchasing an additional 59,630 shares during the last quarter. Frontier Capital Management Co. LLC grew its holdings in shares of Beacon Roofing Supply by 16.0% during the fourth quarter. Frontier Capital Management Co. LLC now owns 2,384,793 shares of the company’s stock worth $242,247,000 after purchasing an additional 329,047 shares during the last quarter. Finally, State Street Corp grew its holdings in shares of Beacon Roofing Supply by 1.1% during the third quarter. State Street Corp now owns 1,471,500 shares of the company’s stock worth $127,182,000 after purchasing an additional 15,505 shares during the last quarter. Hedge funds and other institutional investors own 98.45% of the company’s stock.

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.