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

StockNews.com started coverage on shares of Beacon Roofing Supply (NASDAQ:BECN) in a report published on Monday morning. The brokerage issued a sell rating on the stock.

Several other equities research analysts also recently commented on BECN. JPMorgan Chase & Co. increased their price objective on Beacon Roofing Supply from $119.00 to $136.00 and gave the company an “overweight” rating in a report on Tuesday, November 19th. Stephens reissued an “equal weight” rating and issued a $103.00 price objective on shares of Beacon Roofing Supply in a report on Tuesday, November 19th. BMO Capital Markets cut their price objective on Beacon Roofing Supply from $136.00 to $130.00 and set an “outperform” rating for the company in a report on Tuesday, March 4th. Stifel Nicolaus downgraded Beacon Roofing Supply from a “buy” rating to a “hold” rating and cut their price objective for the company from $131.00 to $122.55 in a report on Friday, February 7th. Finally, Benchmark reissued a “buy” rating and issued a $140.00 price objective on shares of Beacon Roofing Supply in a report on Monday, March 3rd. One 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’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $119.95.

Beacon Roofing Supply Price Performance

Shares of BECN opened at $119.90 on Monday. The stock has a market capitalization of $7.38 billion, a P/E ratio of 20.50 and a beta of 1.63. Beacon Roofing Supply has a twelve month low of $77.54 and a twelve month high of $121.42. The company has a 50 day moving average of $115.41 and a 200-day moving average of $103.53. The company has a quick ratio of 1.14, a current ratio of 1.91 and a debt-to-equity ratio of 1.60.

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

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the company. Universal Beteiligungs und Servicegesellschaft mbH bought a new position in Beacon Roofing Supply during the 4th quarter worth $3,184,000. Polar Asset Management Partners Inc. bought a new position in Beacon Roofing Supply during the 4th quarter worth $4,510,000. Forum Financial Management LP bought a new position in shares of Beacon Roofing Supply in the fourth quarter worth $224,000. Amiral Gestion bought a new position in shares of Beacon Roofing Supply in the fourth quarter worth $1,478,000. Finally, Public Employees Retirement System of Ohio bought a new position in shares of Beacon Roofing Supply in the fourth quarter worth $9,873,000. 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.