Beacon Roofing Supply (NASDAQ:BECN) Given New $124.00 Price Target at Robert W. Baird

Beacon Roofing Supply (NASDAQ:BECN) had its target price increased by Robert W. Baird from $120.00 to $124.00 in a research report sent to investors on Friday,Benzinga reports. They currently have an outperform rating on the stock.

BECN has been the topic of a number of other reports. Benchmark reissued a “buy” rating and set a $140.00 price objective on shares of Beacon Roofing Supply in a report on Friday, November 1st. Stifel Nicolaus downgraded Beacon Roofing Supply from a “buy” rating to a “hold” rating and dropped their price target for the company from $131.00 to $122.55 in a research note on Friday, February 7th. Royal Bank of Canada lifted their target price on Beacon Roofing Supply from $113.00 to $114.00 and gave the stock an “outperform” rating in a report on Friday, November 1st. BMO Capital Markets raised their price target on shares of Beacon Roofing Supply from $125.00 to $136.00 and gave the stock an “outperform” rating in a research report on Thursday, January 16th. Finally, Zelman & Associates downgraded shares of Beacon Roofing Supply from a “strong-buy” rating to a “hold” rating in a report on Thursday, January 16th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $120.62.

Beacon Roofing Supply Price Performance

Shares of NASDAQ BECN opened at $115.42 on Friday. Beacon Roofing Supply has a fifty-two week low of $77.54 and a fifty-two week high of $121.42. The company has a market cap of $7.11 billion, a PE ratio of 19.73 and a beta of 1.62. The company has a debt-to-equity ratio of 1.60, a quick ratio of 1.14 and a current ratio of 1.91. The business has a 50-day simple moving average of $112.29 and a two-hundred day simple moving average of $101.15.

Beacon Roofing Supply (NASDAQ:BECN) last released its 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 company had revenue of $2.40 billion during 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%. As a group, equities analysts expect that Beacon Roofing Supply will post 7.22 EPS for the current fiscal year.

Institutional Trading of Beacon Roofing Supply

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