Beacon Roofing Supply’s (BECN) Hold Rating Reiterated at Loop Capital

Loop Capital reiterated their hold rating on shares of Beacon Roofing Supply (NASDAQ:BECN) in a report issued on Friday,Benzinga reports. They currently have a $124.00 target price on the stock.

A number of other equities research analysts have also recently commented on BECN. StockNews.com initiated coverage on shares of Beacon Roofing Supply in a report on Monday, March 17th. They issued a “sell” rating for the company. BMO Capital Markets reduced their target price on shares of Beacon Roofing Supply from $136.00 to $130.00 and set an “outperform” rating for the company in a report on Tuesday, March 4th. Benchmark reaffirmed a “buy” rating and issued a $140.00 target price on shares of Beacon Roofing Supply in a report on Monday, March 3rd. William Blair reaffirmed a “market perform” rating on shares of Beacon Roofing Supply in a report on Thursday. Finally, Stifel Nicolaus cut shares of 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 report on Friday, February 7th. One analyst has rated the stock with a sell rating, six have issued a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, Beacon Roofing Supply currently has an average rating of “Hold” and an average price target of $120.95.

Beacon Roofing Supply Price Performance

Shares of BECN opened at $123.77 on Friday. Beacon Roofing Supply has a 1-year low of $77.54 and a 1-year high of $123.90. The stock has a market cap of $7.62 billion, a PE ratio of 21.16 and a beta of 1.63. 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 firm has a fifty day moving average price of $117.35 and a 200 day moving average price of $104.46.

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

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. SBI Securities Co. Ltd. acquired a new stake in Beacon Roofing Supply during the fourth quarter worth approximately $31,000. Quarry LP boosted its position 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 acquiring an additional 197 shares during the last quarter. Harvest Fund Management Co. Ltd acquired a new stake in Beacon Roofing Supply during the third quarter worth approximately $28,000. Johnson Financial Group Inc. acquired a new stake in Beacon Roofing Supply during the fourth quarter worth approximately $54,000. Finally, PNC Financial Services Group Inc. boosted its position in Beacon Roofing Supply by 38.1% during the fourth quarter. PNC Financial Services Group Inc. now owns 591 shares of the company’s stock worth $60,000 after acquiring an additional 163 shares during 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.