Beacon Roofing Supply (NASDAQ:BECN) Now Covered by StockNews.com

Equities researchers at StockNews.com initiated coverage on shares of Beacon Roofing Supply (NASDAQ:BECN) in a report released on Saturday. The firm set a “sell” rating on the stock.

A number of other research analysts have also commented on the stock. Raymond James lowered shares of Beacon Roofing Supply from a “moderate buy” rating to a “hold” rating in a research note on Friday, March 21st. Robert W. Baird lifted their price target on Beacon Roofing Supply from $120.00 to $124.00 and gave the company an “outperform” rating in a research report on Friday, February 28th. Stifel Nicolaus lowered Beacon Roofing Supply from a “buy” rating to a “hold” rating and cut their price objective for the company from $131.00 to $122.55 in a report on Friday, February 7th. Benchmark reaffirmed a “buy” rating and set a $140.00 target price on shares of Beacon Roofing Supply in a report on Monday, March 3rd. Finally, Baird R W cut shares of Beacon Roofing Supply from a “strong-buy” rating to a “hold” rating in a research report on Thursday, March 20th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $121.47.

Beacon Roofing Supply Trading Up 0.1 %

NASDAQ:BECN opened at $124.19 on Friday. The stock has a market cap of $7.67 billion, a price-to-earnings ratio of 21.23 and a beta of 1.31. The company has a debt-to-equity ratio of 1.60, a quick ratio of 1.14 and a current ratio of 1.91. Beacon Roofing Supply has a 1 year low of $77.54 and a 1 year high of $124.19. The business has a fifty day moving average of $120.59 and a 200-day moving average of $111.38.

Beacon Roofing Supply (NASDAQ:BECN) last posted its quarterly earnings data on Thursday, February 27th. The company reported $1.65 earnings per share for the quarter, missing the consensus estimate of $1.66 by ($0.01). The company had revenue of $2.40 billion during the quarter, compared to analyst estimates of $2.43 billion. Beacon Roofing Supply had a return on equity of 25.32% and a net margin of 3.86%. Equities analysts predict that Beacon Roofing Supply will post 7.22 earnings per share for the current year.

Insider Activity

In other Beacon Roofing Supply news, insider Clement Munroe Best III sold 29,724 shares of Beacon Roofing Supply stock in a transaction dated Friday, April 4th. The stock was sold at an average price of $123.05, for a total transaction of $3,657,538.20. Following the transaction, the insider now owns 87,943 shares of the company’s stock, valued at $10,821,386.15. The trade was a 25.26 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Jonathan Stuart Bennett sold 8,487 shares of the company’s stock in a transaction dated Monday, April 7th. The shares were sold at an average price of $122.14, for a total value of $1,036,602.18. Following the completion of the transaction, the insider now 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 worth $6,745,448 over the last 90 days. 1.30% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. Equitable Trust Co. increased its stake in shares of Beacon Roofing Supply by 1.7% in the fourth quarter. Equitable Trust Co. now owns 7,228 shares of the company’s stock worth $734,000 after acquiring an additional 122 shares during the last quarter. GAMMA Investing LLC increased its position in Beacon Roofing Supply by 17.2% in the 1st quarter. GAMMA Investing LLC now owns 913 shares of the company’s stock worth $113,000 after purchasing an additional 134 shares during the last quarter. Nomura Asset Management Co. Ltd. increased its position in Beacon Roofing Supply by 26.3% in the 4th quarter. Nomura Asset Management Co. Ltd. now owns 720 shares of the company’s stock worth $73,000 after purchasing an additional 150 shares during the last quarter. PNC Financial Services Group Inc. raised 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. Finally, Cornerstone Investment Partners LLC lifted its holdings 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 valued at $480,000 after buying an additional 166 shares during the last quarter. Institutional investors and hedge funds own 98.45% of the company’s stock.

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.