Beacon Roofing Supply (NASDAQ:BECN) Price Target Cut to $130.00 by Analysts at BMO Capital Markets

Beacon Roofing Supply (NASDAQ:BECN) had its price target decreased by BMO Capital Markets from $136.00 to $130.00 in a report issued on Tuesday,Benzinga reports. BMO Capital Markets currently has an outperform rating on the stock.

Several other research analysts have also weighed in on the company. Benchmark reissued a “buy” rating and issued a $140.00 price objective on shares of Beacon Roofing Supply in a research report on Monday. Robert W. Baird upped their price objective 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. Stifel Nicolaus downgraded Beacon Roofing Supply from a “buy” rating to a “hold” rating and reduced their target price for the company from $131.00 to $122.55 in a research note on Friday, February 7th. Zelman & Associates downgraded Beacon Roofing Supply from a “strong-buy” rating to a “hold” rating in a research note on Thursday, January 16th. Finally, StockNews.com initiated coverage on Beacon Roofing Supply in a research note on Saturday, March 1st. They issued a “sell” rating for the company. One research analyst has rated the stock with a sell rating, four have given a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $119.95.

Beacon Roofing Supply Price Performance

Shares of NASDAQ:BECN opened at $112.03 on Tuesday. Beacon Roofing Supply has a one year low of $77.54 and a one year high of $121.42. 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 company has a market cap of $6.90 billion, a price-to-earnings ratio of 19.15 and a beta of 1.63. The firm has a 50 day simple moving average of $113.25 and a 200 day simple moving average of $102.03.

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

Institutional Trading of Beacon Roofing Supply

Several institutional investors and hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. grew its holdings in Beacon Roofing Supply by 0.4% during the fourth quarter. Vanguard Group Inc. now owns 6,509,495 shares of the company’s stock worth $661,235,000 after buying an additional 24,027 shares in the last quarter. FMR LLC grew its stake in shares of Beacon Roofing Supply by 17.6% in the 3rd quarter. FMR LLC now owns 6,435,880 shares of the company’s stock worth $556,253,000 after acquiring an additional 963,633 shares in the last quarter. Boston Partners raised its holdings in shares of Beacon Roofing Supply by 1.3% in the fourth quarter. Boston Partners now owns 4,531,106 shares of the company’s stock valued at $462,417,000 after purchasing an additional 59,630 shares during the last quarter. Frontier Capital Management Co. LLC lifted its position in shares of Beacon Roofing Supply by 16.0% during the fourth quarter. Frontier Capital Management Co. LLC now owns 2,384,793 shares of the company’s stock valued at $242,247,000 after purchasing an additional 329,047 shares in the last quarter. Finally, State Street Corp boosted its holdings in Beacon Roofing Supply by 1.1% during the third quarter. State Street Corp now owns 1,471,500 shares of the company’s stock worth $127,182,000 after purchasing an additional 15,505 shares during the last quarter. 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.