Beacon Roofing Supply (NASDAQ:BECN) Rating Lowered to Hold at StockNews.com

Beacon Roofing Supply (NASDAQ:BECN) was downgraded by StockNews.com from a “buy” rating to a “hold” rating in a note issued to investors on Monday.

Several other equities research analysts have also commented on BECN. Robert W. Baird upped their target price on Beacon Roofing Supply from $115.00 to $117.00 and gave the company an “outperform” rating in a research report on Friday, May 3rd. Benchmark began coverage on Beacon Roofing Supply in a report on Thursday, April 18th. They issued a “buy” rating and a $135.00 price target on the stock. TheStreet upgraded Beacon Roofing Supply from a “c” rating to a “b-” rating in a report on Tuesday, February 27th. Loop Capital increased their price target on Beacon Roofing Supply from $110.00 to $115.00 and gave the stock a “buy” rating in a report on Monday, April 1st. Finally, William Blair upgraded Beacon Roofing Supply from a “market perform” rating to an “outperform” rating in a report on Monday, January 8th. Three investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $104.33.

Beacon Roofing Supply Stock Down 1.7 %

Shares of Beacon Roofing Supply stock opened at $93.86 on Monday. Beacon Roofing Supply has a one year low of $57.88 and a one year high of $103.75. 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 stock’s 50-day moving average is $94.00 and its 200 day moving average is $86.44. The firm has a market cap of $5.95 billion, a price-to-earnings ratio of -148.98 and a beta of 1.59.

Beacon Roofing Supply (NASDAQ:BECN) last announced its earnings results on Tuesday, February 27th. The company reported $1.47 EPS for the quarter, missing the consensus estimate of $1.69 by ($0.22). Beacon Roofing Supply had a net margin of 4.47% and a return on equity of 26.31%. The business had revenue of $2.30 billion for the quarter, compared to the consensus estimate of $2.27 billion. During the same quarter in the previous year, the company earned $1.18 EPS. The firm’s revenue for the quarter was up 16.8% on a year-over-year basis. Equities research analysts anticipate that Beacon Roofing Supply will post 7.78 EPS for the current year.

Insider Activity

In other news, insider Jason L. Taylor sold 1,805 shares of the firm’s stock in a transaction that occurred on Thursday, March 21st. The stock was sold at an average price of $95.00, for a total value of $171,475.00. Following the transaction, the insider now owns 10,531 shares in the company, valued at $1,000,445. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, EVP Christopher Carl Nelson sold 3,268 shares of the stock in a transaction that occurred on Thursday, March 28th. The stock was sold at an average price of $93.87, for a total transaction of $306,767.16. Following the completion of the sale, the executive vice president now directly owns 176 shares of the company’s stock, valued at $16,521.12. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Jason L. Taylor sold 1,805 shares of the stock in a transaction that occurred on Thursday, March 21st. The shares were sold at an average price of $95.00, for a total value of $171,475.00. Following the sale, the insider now directly owns 10,531 shares of the company’s stock, valued at $1,000,445. The disclosure for this sale can be found here. Corporate insiders own 1.30% of the company’s stock.

Institutional Trading of Beacon Roofing Supply

A number of institutional investors and hedge funds have recently modified their holdings of BECN. Allspring Global Investments Holdings LLC purchased a new stake in shares of Beacon Roofing Supply during the first quarter valued at approximately $26,000. PNC Financial Services Group Inc. increased its position in Beacon Roofing Supply by 145.0% in the fourth quarter. PNC Financial Services Group Inc. now owns 343 shares of the company’s stock worth $30,000 after buying an additional 203 shares during the last quarter. Quarry LP increased its position in Beacon Roofing Supply by 127.1% in the fourth quarter. Quarry LP now owns 402 shares of the company’s stock worth $35,000 after buying an additional 225 shares during the last quarter. Benjamin F. Edwards & Company Inc. purchased a new stake in Beacon Roofing Supply in the fourth quarter worth $36,000. Finally, Parkside Financial Bank & Trust increased its position in Beacon Roofing Supply by 49.4% in the third quarter. Parkside Financial Bank & Trust now owns 487 shares of the company’s stock worth $38,000 after buying an additional 161 shares during the last quarter. 98.45% of the stock is owned by hedge funds and other 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.