Beacon Roofing Supply, Inc. (NASDAQ:BECN) Given Average Rating of “Hold” by Brokerages

Shares of Beacon Roofing Supply, Inc. (NASDAQ:BECN) have been assigned a consensus recommendation of “Hold” from the twelve research firms that are currently covering the firm, MarketBeat Ratings reports. Seven investment analysts have rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average 12 month target price among analysts that have updated their coverage on the stock in the last year is $120.95.

Several research analysts have 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 stock an “outperform” rating in a research note on Friday, February 28th. William Blair reaffirmed a “market perform” rating on shares of Beacon Roofing Supply in a research note on Thursday, March 20th. Zelman & Associates downgraded Beacon Roofing Supply from a “strong-buy” rating to a “hold” rating in a report on Thursday, January 16th. Loop Capital reiterated a “hold” rating and issued a $124.00 price objective on shares of Beacon Roofing Supply in a research report on Friday. Finally, Stifel Nicolaus cut Beacon Roofing Supply from a “buy” rating to a “hold” rating and decreased their target price for the stock from $131.00 to $122.55 in a report on Friday, February 7th.

Institutional Inflows and Outflows

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

Beacon Roofing Supply Trading Up 0.0 %

Shares of BECN stock opened at $123.82 on Tuesday. The firm has a fifty day moving average of $117.72 and a 200-day moving average of $105.01. The stock has a market cap of $7.63 billion, a price-to-earnings ratio of 21.17 and a beta of 1.63. Beacon Roofing Supply has a 52-week low of $77.54 and a 52-week high of $123.90. The company has a debt-to-equity ratio of 1.60, a quick ratio of 1.14 and a current ratio of 1.91.

Beacon Roofing Supply (NASDAQ:BECN) last announced 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 business had revenue of $2.40 billion for 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%. On average, equities research analysts forecast that Beacon Roofing Supply will post 7.22 earnings per share for the current fiscal year.

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.