Robert W. Baird Forecasts Strong Price Appreciation for Beacon Roofing Supply (NASDAQ:BECN) Stock

Beacon Roofing Supply (NASDAQ:BECN) had its price objective increased by analysts at Robert W. Baird from $120.00 to $124.00 in a research report issued on Friday,Benzinga reports. The brokerage currently has an “outperform” rating on the stock. Robert W. Baird’s price objective points to a potential upside of 7.84% from the stock’s previous close.

Several other equities research analysts have also commented on the stock. Benchmark reaffirmed a “buy” rating and issued a $140.00 price target on shares of Beacon Roofing Supply in a report on Friday, November 1st. JPMorgan Chase & Co. increased their target price on shares of Beacon Roofing Supply from $119.00 to $136.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 19th. StockNews.com assumed coverage on shares of Beacon Roofing Supply in a research note on Friday, February 21st. They set a “sell” rating on the stock. Stephens reissued an “equal weight” rating and set a $103.00 target price on shares of Beacon Roofing Supply in a research note on Tuesday, November 19th. Finally, Stifel Nicolaus lowered shares of Beacon Roofing Supply from a “buy” rating to a “hold” rating and lowered their target price for the stock from $131.00 to $122.55 in a research note on Friday, February 7th. One 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 company has a consensus rating of “Hold” and an average target price of $120.62.

Beacon Roofing Supply Stock Down 0.3 %

Beacon Roofing Supply stock opened at $114.99 on Friday. The business has a fifty day moving average of $112.01 and a two-hundred day moving average of $101.05. 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 firm has a market cap of $7.08 billion, a P/E ratio of 19.68 and a beta of 1.62. Beacon Roofing Supply has a twelve month low of $77.54 and a twelve month high of $121.42.

Beacon Roofing Supply (NASDAQ:BECN) last issued its quarterly 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). 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%. On average, analysts forecast that Beacon Roofing Supply will post 7.22 earnings per share for the current fiscal year.

Institutional Trading of Beacon Roofing Supply

A number of hedge funds have recently bought and sold shares of the business. Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in Beacon Roofing Supply in the 4th quarter valued at about $3,184,000. Polar Asset Management Partners Inc. acquired a new stake in Beacon Roofing Supply in the 4th quarter valued at about $4,510,000. Forum Financial Management LP acquired a new stake in Beacon Roofing Supply in the 4th quarter valued at about $224,000. Amiral Gestion acquired a new stake in shares of Beacon Roofing Supply during the 4th quarter worth approximately $1,478,000. Finally, Public Employees Retirement System of Ohio acquired a new stake in shares of Beacon Roofing Supply during the 4th quarter worth approximately $9,873,000. Institutional investors and hedge funds 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.