Beacon Roofing Supply (NASDAQ:BECN) Earns Hold Rating from Loop Capital

Beacon Roofing Supply (NASDAQ:BECN)‘s stock had its “hold” rating reaffirmed by equities research analysts at Loop Capital in a research note issued to investors on Friday, Marketbeat.com reports. They currently have a $124.00 target price on the stock. Loop Capital’s price objective indicates a potential upside of 0.19% from the stock’s current price.

Other research analysts also recently issued research reports about the stock. William Blair restated a “market perform” rating on shares of Beacon Roofing Supply in a report on Thursday. Zelman & Associates downgraded shares of Beacon Roofing Supply from a “strong-buy” rating to a “hold” rating in a report on Thursday, January 16th. Benchmark restated a “buy” rating and set a $140.00 price target on shares of Beacon Roofing Supply in a report on Monday, March 3rd. Robert W. Baird raised their price target on shares of Beacon Roofing Supply from $120.00 to $124.00 and gave the company an “outperform” rating in a report on Friday, February 28th. Finally, Stifel Nicolaus downgraded shares of Beacon Roofing Supply from a “buy” rating to a “hold” rating and cut their price target for the company from $131.00 to $122.55 in a report on Friday, February 7th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $120.95.

Beacon Roofing Supply Stock Down 0.0 %

BECN stock opened at $123.77 on Friday. Beacon Roofing Supply has a 12-month low of $77.54 and a 12-month high of $123.90. The company has a quick ratio of 1.14, a current ratio of 1.91 and a debt-to-equity ratio of 1.60. The company has a market cap of $7.62 billion, a price-to-earnings ratio of 21.16 and a beta of 1.63. The company has a 50 day moving average of $117.35 and a two-hundred day moving average of $104.59.

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 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 during the quarter, compared to analysts’ expectations of $2.43 billion. On average, equities analysts anticipate that Beacon Roofing Supply will post 7.22 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. SBI Securities Co. Ltd. bought a new position in Beacon Roofing Supply in the 4th quarter worth $31,000. Quarry LP raised its holdings in Beacon Roofing Supply by 180.7% in the 3rd quarter. Quarry LP now owns 306 shares of the company’s stock worth $26,000 after acquiring an additional 197 shares during the period. Harvest Fund Management Co. Ltd acquired a new stake in Beacon Roofing Supply in the 3rd quarter worth $28,000. Johnson Financial Group Inc. acquired a new stake in Beacon Roofing Supply in the 4th quarter worth $54,000. Finally, PNC Financial Services Group Inc. grew its position 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 worth $60,000 after purchasing an additional 163 shares during the last quarter. Institutional investors 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.