Beacon Roofing Supply’s (BECN) “Hold” Rating Reiterated at Loop Capital

Beacon Roofing Supply (NASDAQ:BECN)‘s stock had its “hold” rating reissued by investment analysts at Loop Capital in a research report issued on Friday,Benzinga reports. They presently have a $124.00 target price on the stock. Loop Capital’s price objective would indicate a potential upside of 0.14% from the stock’s previous close.

Several other equities analysts also recently commented on BECN. William Blair restated a “market perform” rating on shares of Beacon Roofing Supply in a research report on Thursday. StockNews.com assumed coverage on Beacon Roofing Supply in a report on Monday. They issued a “sell” rating on the stock. Zelman & Associates lowered shares of Beacon Roofing Supply from a “strong-buy” rating to a “hold” rating in a report on Thursday, January 16th. Stifel Nicolaus downgraded 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 report on Friday, February 7th. Finally, Benchmark restated a “buy” rating and set a $140.00 target price on shares of Beacon Roofing Supply in a research report on Monday, March 3rd. One analyst has rated the stock with a sell rating, six have given a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $120.95.

Beacon Roofing Supply Trading Up 1.9 %

Beacon Roofing Supply stock opened at $123.83 on Friday. Beacon Roofing Supply has a 12-month low of $77.54 and a 12-month high of $123.90. The firm has a market capitalization of $7.63 billion, a price-to-earnings ratio of 21.17 and a beta of 1.63. The firm has a 50 day moving average of $116.92 and a 200 day moving average of $104.23. The company has a current ratio of 1.91, a quick ratio of 1.14 and a debt-to-equity ratio of 1.60.

Beacon Roofing Supply (NASDAQ:BECN) last announced its quarterly earnings data 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 firm had revenue of $2.40 billion during the quarter, compared to analysts’ expectations of $2.43 billion. As a group, research analysts predict that Beacon Roofing Supply will post 7.22 earnings per share for the current year.

Institutional Trading of Beacon Roofing Supply

Institutional investors have recently added to or reduced their stakes in the company. Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in shares of Beacon Roofing Supply in the fourth quarter worth approximately $3,184,000. Polar Asset Management Partners Inc. purchased a new stake in Beacon Roofing Supply in the fourth quarter worth $4,510,000. Forum Financial Management LP bought a new stake in shares of Beacon Roofing Supply during the fourth quarter worth $224,000. Amiral Gestion purchased a new stake in shares of Beacon Roofing Supply during the fourth quarter valued at $1,478,000. Finally, Public Employees Retirement System of Ohio bought a new position in shares of Beacon Roofing Supply in the fourth quarter worth about $9,873,000. 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.