Beacon Roofing Supply, Inc. (NASDAQ:BECN) Receives $119.95 Average PT from Analysts

Shares of Beacon Roofing Supply, Inc. (NASDAQ:BECN) have been given a consensus rating of “Moderate Buy” by the eleven brokerages that are currently covering the firm, MarketBeat Ratings reports. Five equities research analysts have rated the stock with a hold rating and six have issued a buy rating on the company. The average 12-month price objective among analysts that have updated their coverage on the stock in the last year is $119.95.

BECN has been the subject of a number of recent research reports. Benchmark reiterated a “buy” rating and set a $140.00 price objective on shares of Beacon Roofing Supply in a research note on Monday, March 3rd. William Blair reiterated a “market perform” rating on shares of Beacon Roofing Supply in a research report on Thursday. Robert W. Baird raised their price objective 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 assumed coverage on shares of Beacon Roofing Supply in a report on Monday. They issued a “sell” rating for the company. Finally, Stifel Nicolaus lowered Beacon Roofing Supply from a “buy” rating to a “hold” rating and cut their price target for the stock from $131.00 to $122.55 in a research note on Friday, February 7th.

Beacon Roofing Supply Trading Up 1.9 %

Shares of Beacon Roofing Supply stock opened at $123.83 on Tuesday. Beacon Roofing Supply has a 1-year low of $77.54 and a 1-year high of $123.90. The company’s fifty day simple moving average is $116.92 and its 200-day simple moving average is $104.23. 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 stock has a market capitalization of $7.63 billion, a PE ratio of 21.17 and a beta of 1.63.

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

Institutional Investors Weigh In On Beacon Roofing Supply

Several large investors have recently made changes to their positions in BECN. Quarry LP increased its holdings in shares of Beacon Roofing Supply by 180.7% in the 3rd quarter. Quarry LP now owns 306 shares of the company’s stock worth $26,000 after buying 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 approximately $28,000. SBI Securities Co. Ltd. acquired a new position in shares of Beacon Roofing Supply in the 4th quarter valued at $31,000. Johnson Financial Group Inc. purchased a new position in Beacon Roofing Supply during the 4th quarter worth approximately $54,000. Finally, PNC Financial Services Group Inc. grew its position in Beacon Roofing Supply by 38.1% during the 4th quarter. PNC Financial Services Group Inc. now owns 591 shares of the company’s stock worth $60,000 after purchasing an additional 163 shares during the period. 98.45% of the stock is owned by institutional investors.

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.