Beacon Roofing Supply (NASDAQ:BECN) Receives Buy Rating from Benchmark

Benchmark reissued their buy rating on shares of Beacon Roofing Supply (NASDAQ:BECN) in a report issued on Monday,Benzinga reports. Benchmark currently has a $140.00 price target on the stock.

Other equities analysts have also issued research reports about the stock. StockNews.com assumed coverage on shares of Beacon Roofing Supply in a research report on Saturday. They set a “sell” rating for the company. Stifel Nicolaus downgraded shares of Beacon Roofing Supply from a “buy” rating to a “hold” rating and cut their price objective for the stock from $131.00 to $122.55 in a report on Friday, February 7th. JPMorgan Chase & Co. boosted their target price on shares of Beacon Roofing Supply from $119.00 to $136.00 and gave the company an “overweight” rating in a report on Tuesday, November 19th. Zelman & Associates cut Beacon Roofing Supply from a “strong-buy” rating to a “hold” rating in a research report on Thursday, January 16th. Finally, 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. One investment 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. According to MarketBeat, Beacon Roofing Supply has a consensus rating of “Hold” and an average target price of $120.62.

Beacon Roofing Supply Stock Down 2.2 %

Shares of NASDAQ:BECN opened at $112.91 on Monday. The business has a fifty day moving average price of $112.56 and a two-hundred day moving average price of $101.59. 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 capitalization of $6.95 billion, a PE ratio of 19.30 and a beta of 1.62. Beacon Roofing Supply has a 1 year low of $77.54 and a 1 year high of $121.42.

Beacon Roofing Supply (NASDAQ:BECN) last announced its quarterly earnings data on Thursday, February 27th. The company reported $1.65 EPS for the quarter, missing the consensus estimate of $1.66 by ($0.01). The company 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%. 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

A number of institutional investors have recently made changes to their positions in the stock. SBI Securities Co. Ltd. purchased a new position in Beacon Roofing Supply in the fourth quarter worth $31,000. Quarry LP lifted its stake in Beacon Roofing Supply by 180.7% during the third quarter. Quarry LP now owns 306 shares of the company’s stock worth $26,000 after purchasing an additional 197 shares during the last quarter. Harvest Fund Management Co. Ltd purchased a new position in shares of Beacon Roofing Supply in the 3rd quarter worth about $28,000. Johnson Financial Group Inc. bought a new position in shares of Beacon Roofing Supply during the 4th quarter valued at about $54,000. Finally, PNC Financial Services Group Inc. increased its position in shares of Beacon Roofing Supply by 38.1% during the 4th quarter. PNC Financial Services Group Inc. now owns 591 shares of the company’s stock valued at $60,000 after purchasing an additional 163 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.