Beacon Roofing Supply (NASDAQ:BECN) Downgraded to “Hold” Rating by Baird R W

Beacon Roofing Supply (NASDAQ:BECN) was downgraded by equities research analysts at Baird R W from a “strong-buy” rating to a “hold” rating in a report released on Thursday,Zacks.com reports.

A number of other equities analysts have also recently weighed in on BECN. StockNews.com started coverage on shares of Beacon Roofing Supply in a research report on Monday, March 17th. They issued a “sell” rating for the company. Loop Capital restated a “hold” rating and issued a $124.00 target price on shares of Beacon Roofing Supply in a research note on Friday. William Blair restated a “market perform” rating on shares of Beacon Roofing Supply in a research note on Thursday. BMO Capital Markets cut their target price on shares of 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. Finally, Benchmark restated a “buy” rating and issued a $140.00 target price on shares of Beacon Roofing Supply in a research note on Monday, March 3rd. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Beacon Roofing Supply currently has a consensus rating of “Hold” and a consensus price target of $120.95.

Beacon Roofing Supply Stock Down 0.0 %

Shares of Beacon Roofing Supply stock opened at $123.77 on Thursday. The company has a fifty day moving average price of $117.35 and a 200 day moving average price of $104.46. 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 twelve month low of $77.54 and a twelve month high of $123.90. The stock has a market cap of $7.62 billion, a price-to-earnings ratio of 21.16 and a beta of 1.63.

Beacon Roofing Supply (NASDAQ:BECN) last posted its quarterly earnings data 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 firm 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 forecast that Beacon Roofing Supply will post 7.22 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the company. Universal Beteiligungs und Servicegesellschaft mbH bought a new position in Beacon Roofing Supply in the 4th quarter worth about $3,184,000. Polar Asset Management Partners Inc. bought a new position in Beacon Roofing Supply in the 4th quarter worth about $4,510,000. Forum Financial Management LP bought a new position in Beacon Roofing Supply in the 4th quarter worth about $224,000. Amiral Gestion bought a new position in Beacon Roofing Supply in the 4th quarter worth about $1,478,000. Finally, Public Employees Retirement System of Ohio bought a new position in Beacon Roofing Supply in the 4th quarter worth about $9,873,000. Institutional investors 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.