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

Analysts at StockNews.com began coverage on shares of Beacon Roofing Supply (NASDAQ:BECN) in a note issued to investors on Tuesday. The brokerage set a “sell” rating on the stock.

A number of other research analysts also recently issued reports on BECN. Robert W. Baird lifted their price target on Beacon Roofing Supply from $120.00 to $124.00 and gave the company an “outperform” rating in a report on Friday, February 28th. Loop Capital reiterated a “hold” rating and issued a $124.00 target price on shares of Beacon Roofing Supply in a research note on Friday, March 21st. Stifel Nicolaus lowered shares of Beacon Roofing Supply from a “buy” rating to a “hold” rating and decreased their price target for the company from $131.00 to $122.55 in a research report on Friday, February 7th. Zelman & Associates cut shares of Beacon Roofing Supply from a “strong-buy” rating to a “hold” rating in a report on Thursday, January 16th. Finally, BMO Capital Markets reduced their price objective on shares of Beacon Roofing Supply from $136.00 to $130.00 and set an “outperform” rating for the company in a research note on Tuesday, March 4th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $120.95.

Beacon Roofing Supply Stock Up 0.0 %

NASDAQ:BECN opened at $123.84 on Tuesday. 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 firm has a market cap of $7.63 billion, a PE ratio of 21.17 and a beta of 1.63. The company has a 50-day moving average of $118.02 and a 200 day moving average of $105.31. Beacon Roofing Supply has a 1-year low of $77.54 and a 1-year high of $123.90.

Beacon Roofing Supply (NASDAQ:BECN) last announced 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 business 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%. As a group, research analysts anticipate that Beacon Roofing Supply will post 7.22 EPS for the current fiscal year.

Institutional Inflows and Outflows

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