William Blair Reaffirms Market Perform Rating for Beacon Roofing Supply (NASDAQ:BECN)

Beacon Roofing Supply (NASDAQ:BECN)‘s stock had its “market perform” rating reissued by equities researchers at William Blair in a research note issued to investors on Thursday,Benzinga reports.

Several other research firms have also recently commented on BECN. Robert W. Baird upped their target price on shares of Beacon Roofing Supply from $120.00 to $124.00 and gave the company an “outperform” rating in a research note on Friday, February 28th. StockNews.com began coverage on shares of Beacon Roofing Supply in a research note on Monday, March 17th. They issued a “sell” rating for the company. BMO Capital Markets dropped 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. Stifel Nicolaus cut shares of Beacon Roofing Supply from a “buy” rating to a “hold” rating and dropped their price objective for the company from $131.00 to $122.55 in a research note on Friday, February 7th. Finally, Zelman & Associates cut shares of Beacon Roofing Supply from a “strong-buy” rating to a “hold” rating in a research note on Thursday, January 16th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and five have given a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $120.95.

Beacon Roofing Supply Price Performance

NASDAQ:BECN opened at $123.77 on Thursday. The stock has a market cap of $7.62 billion, a P/E ratio of 21.16 and a beta of 1.63. Beacon Roofing Supply has a one year low of $77.54 and a one year high of $123.90. The company has a fifty day moving average price of $117.35 and a 200 day moving average price of $104.46. The company has a debt-to-equity ratio of 1.60, a current ratio of 1.91 and a quick ratio of 1.14.

Beacon Roofing Supply (NASDAQ:BECN) last released its earnings results on Thursday, February 27th. The company reported $1.65 EPS for the quarter, missing the consensus estimate of $1.66 by ($0.01). The company had revenue of $2.40 billion for the quarter, compared to analyst estimates of $2.43 billion. Beacon Roofing Supply had a net margin of 3.86% and a return on equity of 25.32%. Analysts anticipate that Beacon Roofing Supply will post 7.22 earnings per share for the current year.

Institutional Investors Weigh In On Beacon Roofing Supply

Large investors have recently bought and sold shares of the business. Charles Schwab Investment Management Inc. grew its position in Beacon Roofing Supply by 1.9% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 615,174 shares of the company’s stock worth $62,489,000 after acquiring an additional 11,426 shares during the last quarter. Intech Investment Management LLC bought a new stake in Beacon Roofing Supply during the 3rd quarter worth approximately $1,441,000. Raymond James Financial Inc. bought a new stake in Beacon Roofing Supply during the 4th quarter worth approximately $24,162,000. Barclays PLC grew its position in Beacon Roofing Supply by 272.0% during the 3rd quarter. Barclays PLC now owns 122,024 shares of the company’s stock worth $10,547,000 after acquiring an additional 89,222 shares during the last quarter. Finally, Fisher Asset Management LLC grew its position in Beacon Roofing Supply by 2.1% during the 4th quarter. Fisher Asset Management LLC now owns 1,014,087 shares of the company’s stock worth $103,011,000 after acquiring an additional 20,372 shares during the last quarter. 98.45% of the stock is currently owned by institutional investors.

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.