Beacon Roofing Supply, Inc. (NASDAQ:BECN) Receives Consensus Recommendation of “Hold” from Brokerages

Beacon Roofing Supply, Inc. (NASDAQ:BECN) has received an average rating of “Hold” from the twelve research firms that are presently covering the stock, Marketbeat reports. Seven research analysts have rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average twelve-month price objective among analysts that have updated their coverage on the stock in the last year is $120.95.

A number of research analysts recently issued reports on the stock. Robert W. Baird boosted their target price on shares of Beacon Roofing Supply from $120.00 to $124.00 and gave the company an “outperform” rating in a research report on Friday, February 28th. StockNews.com began coverage on shares of Beacon Roofing Supply in a report on Monday, March 17th. They set a “sell” rating on the stock. William Blair restated a “market perform” rating on shares of Beacon Roofing Supply in a research note on Thursday. Benchmark reaffirmed a “buy” rating and set a $140.00 price target on shares of Beacon Roofing Supply in a research note on Monday, March 3rd. Finally, Stifel Nicolaus cut Beacon Roofing Supply from a “buy” rating to a “hold” rating and reduced their price objective for the company from $131.00 to $122.55 in a research note on Friday, February 7th.

Beacon Roofing Supply Stock Performance

BECN stock opened at $123.77 on Tuesday. The firm has a market cap of $7.62 billion, a PE ratio of 21.16 and a beta of 1.63. The company has a current ratio of 1.91, a quick ratio of 1.14 and a debt-to-equity ratio of 1.60. The stock has a 50-day moving average price of $117.35 and a 200-day moving average price of $104.59. Beacon Roofing Supply has a 1-year low of $77.54 and a 1-year high of $123.90.

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

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. boosted its holdings in shares of Beacon Roofing Supply by 0.4% in the 4th 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 during the last quarter. FMR LLC raised its position in Beacon Roofing Supply by 17.6% in the third 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 during the period. Boston Partners boosted its stake in 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 acquiring an additional 59,630 shares during the last quarter. Frontier Capital Management Co. LLC grew its position in shares of Beacon Roofing Supply by 16.0% during the 4th quarter. Frontier Capital Management Co. LLC now owns 2,384,793 shares of the company’s stock valued at $242,247,000 after acquiring an additional 329,047 shares during the period. Finally, State Street Corp increased its stake in shares of Beacon Roofing Supply by 1.1% during the 3rd 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. Institutional investors 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.