Beacon Roofing Supply (NASDAQ:BECN) Earns Sell Rating from Analysts at StockNews.com

StockNews.com assumed coverage on shares of Beacon Roofing Supply (NASDAQ:BECN) in a research note issued to investors on Saturday morning. The brokerage issued a sell rating on the stock.

BECN has been the topic of several other research reports. Stephens reissued an “equal weight” rating and set a $103.00 price objective on shares of Beacon Roofing Supply in a report on Tuesday, November 19th. Zelman & Associates lowered Beacon Roofing Supply from a “strong-buy” rating to a “hold” rating in a report on Thursday, January 16th. Robert W. Baird lifted their price objective on Beacon Roofing Supply from $120.00 to $124.00 and gave the stock an “outperform” rating in a report on Friday. Royal Bank of Canada lifted their price objective on Beacon Roofing Supply from $113.00 to $114.00 and gave the stock an “outperform” rating in a report on Friday, November 1st. Finally, BMO Capital Markets lifted their price objective on Beacon Roofing Supply from $125.00 to $136.00 and gave the stock an “outperform” rating in a report on Thursday, January 16th. One analyst has rated the stock with a sell rating, four have issued a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $120.62.

Beacon Roofing Supply Stock Performance

BECN opened at $115.42 on Friday. The firm has a market capitalization of $7.11 billion, a P/E ratio of 19.73 and a beta of 1.62. The stock’s 50 day moving average price is $112.56 and its two-hundred day moving average price is $101.37. The company has a quick ratio of 1.14, a current ratio of 1.91 and a debt-to-equity ratio of 1.60. Beacon Roofing Supply has a 12-month low of $77.54 and a 12-month high of $121.42.

Beacon Roofing Supply (NASDAQ:BECN) last released its 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 during the quarter, compared to analyst estimates of $2.43 billion. Beacon Roofing Supply had a net margin of 3.86% and a return on equity of 25.32%. On average, equities analysts forecast that Beacon Roofing Supply will post 7.22 earnings per share for the current year.

Hedge Funds Weigh In On Beacon Roofing Supply

Hedge funds and other institutional investors have recently modified their holdings of the stock. Intech Investment Management LLC bought a new position in shares of Beacon Roofing Supply during the 3rd quarter worth approximately $1,441,000. Barclays PLC raised its position in Beacon Roofing Supply by 272.0% in the 3rd quarter. Barclays PLC now owns 122,024 shares of the company’s stock valued at $10,547,000 after purchasing an additional 89,222 shares during the last quarter. Choreo LLC raised its position in Beacon Roofing Supply by 30.6% in the 4th quarter. Choreo LLC now owns 10,183 shares of the company’s stock valued at $1,014,000 after purchasing an additional 2,383 shares during the last quarter. JPMorgan Chase & Co. raised its position in Beacon Roofing Supply by 16.3% in the 3rd quarter. JPMorgan Chase & Co. now owns 356,922 shares of the company’s stock valued at $30,849,000 after purchasing an additional 49,902 shares during the last quarter. Finally, BNP Paribas Financial Markets raised its position in Beacon Roofing Supply by 23.0% in the 3rd quarter. BNP Paribas Financial Markets now owns 42,441 shares of the company’s stock valued at $3,668,000 after purchasing an additional 7,924 shares during the last quarter. 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.