Beacon Roofing Supply (NASDAQ:BECN) Research Coverage Started at StockNews.com

StockNews.com initiated coverage on shares of Beacon Roofing Supply (NASDAQ:BECN) in a research report released on Saturday. The brokerage issued a sell rating on the stock.

BECN has been the subject of a number of other research reports. Raymond James cut Beacon Roofing Supply from a “moderate buy” rating to a “hold” rating in a report on Friday, March 21st. William Blair reissued a “market perform” rating on shares of Beacon Roofing Supply in a research report on Thursday, March 20th. BMO Capital Markets reissued a “market perform” rating and set a $124.35 price target (down previously from $130.00) on shares of Beacon Roofing Supply in a research report on Thursday, April 17th. Stifel Nicolaus downgraded Beacon Roofing Supply from a “buy” rating to a “hold” rating and lowered their price target for the stock from $131.00 to $122.55 in a research report on Friday, February 7th. Finally, Robert W. Baird boosted their price target on Beacon Roofing Supply from $120.00 to $124.00 and gave the stock an “outperform” rating in a research report on Friday, February 28th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $121.47.

Beacon Roofing Supply Stock Down 0.0 %

Beacon Roofing Supply stock opened at $124.17 on Friday. The company has a market cap of $7.67 billion, a P/E ratio of 21.23 and a beta of 1.31. Beacon Roofing Supply has a 1-year low of $77.54 and a 1-year high of $124.31. The company has a fifty day simple moving average of $120.69 and a 200 day simple moving average of $111.87. The company has a current ratio of 1.91, a quick ratio of 1.14 and a debt-to-equity ratio of 1.60.

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 analysts’ consensus estimates of $1.66 by ($0.01). The business had revenue of $2.40 billion during the quarter, compared to the consensus estimate of $2.43 billion. Beacon Roofing Supply had a net margin of 3.86% and a return on equity of 25.32%. Research analysts anticipate that Beacon Roofing Supply will post 7.22 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, EVP Christopher Carl Nelson sold 16,595 shares of the stock in a transaction that occurred on Thursday, April 3rd. The stock was sold at an average price of $123.61, for a total transaction of $2,051,307.95. Following the sale, the executive vice president now owns 463 shares of the company’s stock, valued at $57,231.43. This represents a 97.29 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Jonathan Stuart Bennett sold 8,487 shares of the stock in a transaction that occurred on Monday, April 7th. The stock was sold at an average price of $122.14, for a total value of $1,036,602.18. Following the sale, the insider now directly owns 22,642 shares in the company, valued at $2,765,493.88. This represents a 27.26 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 54,806 shares of company stock valued at $6,745,448 over the last 90 days. 1.30% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Beacon Roofing Supply

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its stake in Beacon Roofing Supply by 0.4% during the fourth quarter. Vanguard Group Inc. now owns 6,509,495 shares of the company’s stock worth $661,235,000 after purchasing an additional 24,027 shares during the last quarter. Boston Partners lifted its stake in Beacon Roofing Supply by 1.3% during the fourth quarter. Boston Partners now owns 4,531,106 shares of the company’s stock worth $462,417,000 after purchasing an additional 59,630 shares during the last quarter. Frontier Capital Management Co. LLC lifted its stake in Beacon Roofing Supply by 16.0% during the fourth quarter. Frontier Capital Management Co. LLC now owns 2,384,793 shares of the company’s stock worth $242,247,000 after purchasing an additional 329,047 shares during the last quarter. Invesco Ltd. lifted its stake in Beacon Roofing Supply by 7.4% during the fourth quarter. Invesco Ltd. now owns 1,248,349 shares of the company’s stock worth $126,807,000 after purchasing an additional 86,209 shares during the last quarter. Finally, Vaughan Nelson Investment Management L.P. lifted its stake in Beacon Roofing Supply by 6.8% during the first quarter. Vaughan Nelson Investment Management L.P. now owns 1,052,274 shares of the company’s stock worth $130,166,000 after purchasing an additional 67,075 shares during the last quarter. 98.45% of the stock is currently owned by institutional investors.

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.