StockNews.com Begins Coverage on Beacon Roofing Supply (NASDAQ:BECN)

StockNews.com began coverage on shares of Beacon Roofing Supply (NASDAQ:BECN) in a research note released on Friday morning. The brokerage issued a sell rating on the stock.

A number of other equities research analysts have also weighed in on BECN. Zelman & Associates lowered Beacon Roofing Supply from a “strong-buy” rating to a “hold” rating in a research note on Thursday, January 16th. Stephens reissued 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. Stifel Nicolaus cut shares of Beacon Roofing Supply from a “buy” rating to a “hold” rating and decreased their price target for the stock from $131.00 to $122.55 in a report on Friday, February 7th. Benchmark reiterated a “buy” rating and set a $140.00 price objective on shares of Beacon Roofing Supply in a research note on Friday, November 1st. Finally, BMO Capital Markets upped their target price on Beacon Roofing Supply from $125.00 to $136.00 and gave the company an “outperform” rating in a research report on Thursday, January 16th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $120.17.

Beacon Roofing Supply Stock Down 2.5 %

Beacon Roofing Supply stock opened at $116.62 on Friday. Beacon Roofing Supply has a 1-year low of $77.54 and a 1-year high of $121.42. The business has a fifty day moving average price of $111.30 and a 200-day moving average price of $100.25. The company has a debt-to-equity ratio of 1.60, a current ratio of 1.91 and a quick ratio of 1.14. The stock has a market capitalization of $7.18 billion, a price-to-earnings ratio of 19.93 and a beta of 1.62.

Institutional Investors Weigh In On Beacon Roofing Supply

Several hedge funds have recently added to or reduced their stakes in the business. Forum Financial Management LP acquired a new position in shares of Beacon Roofing Supply in the 4th quarter valued at about $224,000. Amiral Gestion purchased a new position in Beacon Roofing Supply during the fourth quarter valued at approximately $1,478,000. Public Employees Retirement System of Ohio purchased a new position in Beacon Roofing Supply during the fourth quarter valued at approximately $9,873,000. Neo Ivy Capital Management lifted its holdings in Beacon Roofing Supply by 411.0% in the fourth quarter. Neo Ivy Capital Management now owns 14,145 shares of the company’s stock valued at $1,436,000 after acquiring an additional 11,377 shares during the period. Finally, GTS Securities LLC purchased a new stake in Beacon Roofing Supply in the 4th quarter worth approximately $245,000. 98.45% of the stock is owned by hedge funds and other institutional investors.

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.