Beacon Roofing Supply, Inc. (NASDAQ:BECN) Receives Consensus Rating of “Moderate Buy” from Analysts

Shares of Beacon Roofing Supply, Inc. (NASDAQ:BECN) have received a consensus recommendation of “Moderate Buy” from the ten ratings firms that are presently covering the firm, MarketBeat Ratings reports. Four analysts have rated the stock with a hold recommendation and six have assigned a buy recommendation to the company. The average twelve-month price target among analysts that have issued ratings on the stock in the last year is $119.95.

A number of research firms recently weighed in on BECN. Stephens restated an “equal weight” rating and issued a $103.00 price target on shares of Beacon Roofing Supply in a report on Tuesday, November 19th. Stifel Nicolaus cut Beacon Roofing Supply from a “buy” rating to a “hold” rating and lowered their price target for the stock from $131.00 to $122.55 in a report on Friday, February 7th. Zelman & Associates lowered Beacon Roofing Supply from a “strong-buy” rating to a “hold” rating in a research note on Thursday, January 16th. Benchmark reaffirmed a “buy” rating and issued a $140.00 target price on shares of Beacon Roofing Supply in a research note on Monday, March 3rd. Finally, Robert W. Baird upped their target price on Beacon Roofing Supply from $120.00 to $124.00 and gave the company an “outperform” rating in a research note on Friday, February 28th.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Equitable Trust Co. raised its position in shares of Beacon Roofing Supply by 1.7% in the 4th quarter. Equitable Trust Co. now owns 7,228 shares of the company’s stock worth $734,000 after buying an additional 122 shares during the period. Nomura Asset Management Co. Ltd. raised its position in shares of Beacon Roofing Supply by 26.3% in the 4th quarter. Nomura Asset Management Co. Ltd. now owns 720 shares of the company’s stock worth $73,000 after buying an additional 150 shares during the period. PNC Financial Services Group Inc. increased its holdings in 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 purchasing an additional 163 shares in the last quarter. Cornerstone Investment Partners LLC increased its holdings in Beacon Roofing Supply by 3.6% in the 4th quarter. Cornerstone Investment Partners LLC now owns 4,730 shares of the company’s stock valued at $480,000 after purchasing an additional 166 shares in the last quarter. Finally, HighTower Advisors LLC increased its holdings in Beacon Roofing Supply by 7.3% in the 3rd quarter. HighTower Advisors LLC now owns 2,665 shares of the company’s stock valued at $234,000 after purchasing an additional 181 shares in the last quarter. Hedge funds and other institutional investors own 98.45% of the company’s stock.

Beacon Roofing Supply Stock Performance

NASDAQ BECN opened at $119.90 on Tuesday. The company has a current ratio of 1.91, a quick ratio of 1.14 and a debt-to-equity ratio of 1.60. The business’s 50 day moving average is $115.41 and its two-hundred day moving average is $103.53. Beacon Roofing Supply has a 12-month low of $77.54 and a 12-month high of $121.42. The stock has a market capitalization of $7.38 billion, a price-to-earnings ratio of 20.50 and a beta of 1.63.

Beacon Roofing Supply (NASDAQ:BECN) last released its earnings results on Thursday, February 27th. The company reported $1.65 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.66 by ($0.01). The business had revenue of $2.40 billion for 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%. Research analysts expect that Beacon Roofing Supply will post 7.22 EPS for the current year.

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.