BMO Capital Markets Issues Pessimistic Forecast for Beacon Roofing Supply (NASDAQ:BECN) Stock Price

Beacon Roofing Supply (NASDAQ:BECN) had its target price dropped by analysts at BMO Capital Markets from $136.00 to $130.00 in a report released on Tuesday,Benzinga reports. The firm currently has an “outperform” rating on the stock. BMO Capital Markets’ price objective would suggest a potential upside of 14.16% from the stock’s previous close.

Several other research analysts have also recently weighed in on the stock. Robert W. Baird boosted their price objective on shares of Beacon Roofing Supply from $120.00 to $124.00 and gave the stock an “outperform” rating in a research report on Friday, February 28th. Benchmark reissued a “buy” rating and issued a $140.00 target price on shares of Beacon Roofing Supply in a research note on Monday. StockNews.com initiated coverage on Beacon Roofing Supply in a research note on Saturday, March 1st. They set a “sell” rating on the stock. JPMorgan Chase & Co. lifted their price objective on Beacon Roofing Supply from $119.00 to $136.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 19th. Finally, Stephens restated an “equal weight” rating and set a $103.00 target price on shares of Beacon Roofing Supply in a research report on Tuesday, November 19th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $119.95.

Beacon Roofing Supply Price Performance

Shares of BECN stock opened at $113.88 on Tuesday. Beacon Roofing Supply has a 52 week low of $77.54 and a 52 week high of $121.42. The stock has a market capitalization of $7.01 billion, a PE ratio of 19.47 and a beta of 1.63. 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 stock’s fifty day moving average is $113.00 and its 200-day moving average is $101.95.

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

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. FMR LLC raised its holdings in Beacon Roofing Supply by 17.6% in 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 period. Norges Bank acquired a new stake in Beacon Roofing Supply during the 4th quarter worth $94,573,000. Balyasny Asset Management L.P. bought a new position in Beacon Roofing Supply during the fourth quarter worth about $68,588,000. Janus Henderson Group PLC increased its holdings in shares of Beacon Roofing Supply by 1,449.0% in the third quarter. Janus Henderson Group PLC now owns 615,593 shares of the company’s stock worth $53,205,000 after acquiring an additional 575,852 shares in the last quarter. Finally, Citigroup Inc. raised its position in shares of Beacon Roofing Supply by 1,192.1% during the third quarter. Citigroup Inc. now owns 513,692 shares of the company’s stock worth $44,398,000 after purchasing an additional 473,937 shares during the period. 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.