Beacon Roofing Supply (NASDAQ:BECN) Downgraded to “Hold” at StockNews.com

StockNews.com cut shares of Beacon Roofing Supply (NASDAQ:BECN) from a buy rating to a hold rating in a research note released on Monday morning.

BECN has been the subject of a number of other reports. Loop Capital lifted their price target on shares of Beacon Roofing Supply from $110.00 to $115.00 and gave the stock a buy rating in a report on Monday, April 1st. William Blair raised shares of Beacon Roofing Supply from a market perform rating to an outperform rating in a research report on Monday, January 8th. Robert W. Baird raised shares of Beacon Roofing Supply from a neutral rating to an outperform rating and raised their target price for the stock from $99.00 to $115.00 in a research report on Thursday, February 29th. JPMorgan Chase & Co. decreased their target price on shares of Beacon Roofing Supply from $103.00 to $97.00 and set an overweight rating on the stock in a research report on Thursday, January 11th. Finally, Stifel Nicolaus raised their target price on shares of Beacon Roofing Supply from $115.00 to $119.00 and gave the stock a buy rating in a research report on Tuesday, December 19th. Three investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, Beacon Roofing Supply has a consensus rating of Moderate Buy and a consensus target price of $97.27.

Beacon Roofing Supply Stock Performance

Shares of NASDAQ BECN opened at $101.26 on Monday. The company has a market cap of $6.42 billion, a PE ratio of -215.45, a price-to-earnings-growth ratio of 1.79 and a beta of 1.63. Beacon Roofing Supply has a 12 month low of $54.90 and a 12 month high of $102.83. The company has a debt-to-equity ratio of 1.30, a current ratio of 1.85 and a quick ratio of 1.06. The company has a 50-day simple moving average of $89.37 and a 200-day simple moving average of $83.28.

Beacon Roofing Supply (NASDAQ:BECN) last issued its quarterly earnings results on Tuesday, February 27th. The company reported $1.47 EPS for the quarter, missing analysts’ consensus estimates of $1.69 by ($0.22). The firm had revenue of $2.30 billion for the quarter, compared to analysts’ expectations of $2.27 billion. Beacon Roofing Supply had a return on equity of 26.95% and a net margin of 4.74%. The business’s quarterly revenue was up 16.8% compared to the same quarter last year. During the same quarter last year, the firm earned $1.18 earnings per share. On average, equities analysts anticipate that Beacon Roofing Supply will post 7.86 earnings per share for the current year.

Insider Buying and Selling at Beacon Roofing Supply

In other Beacon Roofing Supply news, insider Jason L. Taylor sold 1,805 shares of Beacon Roofing Supply stock in a transaction that occurred on Thursday, March 21st. The shares were sold at an average price of $95.00, for a total transaction of $171,475.00. Following the transaction, the insider now directly owns 10,531 shares of the company’s stock, valued at $1,000,445. The sale was disclosed in a filing with the SEC, which is available at this link. In other news, EVP Christopher Carl Nelson sold 3,268 shares of the business’s stock in a transaction on Thursday, March 28th. The shares were sold at an average price of $93.87, for a total transaction of $306,767.16. Following the transaction, the executive vice president now directly owns 176 shares of the company’s stock, valued at $16,521.12. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Jason L. Taylor sold 1,805 shares of the business’s stock in a transaction on Thursday, March 21st. The stock was sold at an average price of $95.00, for a total transaction of $171,475.00. Following the transaction, the insider now directly owns 10,531 shares in the company, valued at $1,000,445. The disclosure for this sale can be found here. 1.30% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. lifted its position in shares of Beacon Roofing Supply by 9.6% during the fourth quarter. Vanguard Group Inc. now owns 6,165,267 shares of the company’s stock worth $536,502,000 after purchasing an additional 539,785 shares in the last quarter. BlackRock Inc. increased its stake in shares of Beacon Roofing Supply by 3.6% in the second quarter. BlackRock Inc. now owns 3,645,889 shares of the company’s stock worth $302,536,000 after buying an additional 125,602 shares during the last quarter. Price T Rowe Associates Inc. MD increased its stake in shares of Beacon Roofing Supply by 4.0% in the second quarter. Price T Rowe Associates Inc. MD now owns 2,806,283 shares of the company’s stock worth $144,131,000 after buying an additional 106,890 shares during the last quarter. American Century Companies Inc. increased its stake in shares of Beacon Roofing Supply by 9.3% in the third quarter. American Century Companies Inc. now owns 2,734,447 shares of the company’s stock worth $211,017,000 after buying an additional 233,393 shares during the last quarter. Finally, Frontier Capital Management Co. LLC increased its stake in shares of Beacon Roofing Supply by 17.3% in the fourth quarter. Frontier Capital Management Co. LLC now owns 2,126,533 shares of the company’s stock worth $185,051,000 after buying an additional 314,102 shares during the last quarter. 98.45% of the stock is 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.