Beacon Roofing Supply (NASDAQ:BECN) Earns Market Perform Rating from William Blair

William Blair restated their market perform rating on shares of Beacon Roofing Supply (NASDAQ:BECN) in a report issued on Thursday morning, Marketbeat Ratings reports.

A number of other brokerages also recently commented on BECN. BMO Capital Markets reduced their price objective on shares of Beacon Roofing Supply from $136.00 to $130.00 and set an “outperform” rating for the company in a research report on Tuesday, March 4th. Stifel Nicolaus downgraded shares of 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 report on Friday, February 7th. StockNews.com began coverage on shares of Beacon Roofing Supply in a research report on Monday, March 17th. They issued a “sell” rating for the company. Zelman & Associates downgraded shares of Beacon Roofing Supply from a “strong-buy” rating to a “hold” rating in a research report on Thursday, January 16th. Finally, 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. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $120.95.

Beacon Roofing Supply Stock Performance

NASDAQ BECN opened at $123.77 on Thursday. 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 52-week low of $77.54 and a 52-week high of $123.90. The business’s 50-day moving average price is $117.35 and its 200 day moving average price is $104.59. The firm has a market cap of $7.62 billion, a P/E ratio of 21.16 and a beta of 1.63.

Beacon Roofing Supply (NASDAQ:BECN) last released its quarterly 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). Beacon Roofing Supply had a return on equity of 25.32% and a net margin of 3.86%. The company had revenue of $2.40 billion for the quarter, compared to analysts’ expectations of $2.43 billion. On average, equities research analysts expect that Beacon Roofing Supply will post 7.22 earnings per share for the current year.

Institutional Investors Weigh In On Beacon Roofing Supply

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Equitable Trust Co. lifted its position in shares of Beacon Roofing Supply by 1.7% during the 4th quarter. Equitable Trust Co. now owns 7,228 shares of the company’s stock valued at $734,000 after acquiring an additional 122 shares during the period. Nomura Asset Management Co. Ltd. lifted its position in shares of Beacon Roofing Supply by 26.3% during the 4th quarter. Nomura Asset Management Co. Ltd. now owns 720 shares of the company’s stock valued at $73,000 after acquiring an additional 150 shares during the period. PNC Financial Services Group Inc. increased its stake 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 worth $60,000 after purchasing an additional 163 shares in the last quarter. Cornerstone Investment Partners LLC increased its stake in shares of Beacon Roofing Supply by 3.6% during the 4th quarter. Cornerstone Investment Partners LLC now owns 4,730 shares of the company’s stock worth $480,000 after purchasing an additional 166 shares in the last quarter. Finally, HighTower Advisors LLC increased its stake in shares of Beacon Roofing Supply by 7.3% during the 3rd quarter. HighTower Advisors LLC now owns 2,665 shares of the company’s stock worth $234,000 after purchasing an additional 181 shares in the last quarter. 98.45% of the stock is currently owned by institutional investors and hedge funds.

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.