Beacon Roofing Supply’s (BECN) Market Perform Rating Reaffirmed at William Blair

William Blair reiterated their market perform rating on shares of Beacon Roofing Supply (NASDAQ:BECN) in a research note issued to investors on Thursday morning,Benzinga reports.

Other research analysts have also recently issued research reports about the stock. Stifel Nicolaus cut shares of Beacon Roofing Supply from a “buy” rating to a “hold” rating and decreased their price objective for the company from $131.00 to $122.55 in a report on Friday, February 7th. BMO Capital Markets lowered their price objective on shares of Beacon Roofing Supply from $136.00 to $130.00 and set an “outperform” rating for the company in a research report on Tuesday, March 4th. StockNews.com initiated coverage on Beacon Roofing Supply in a report on Monday. They set a “sell” rating on the stock. Benchmark restated a “buy” rating and issued a $140.00 price target on shares of Beacon Roofing Supply in a report on Monday, March 3rd. Finally, Zelman & Associates cut Beacon Roofing Supply from a “strong-buy” rating to a “hold” rating in a report on Thursday, January 16th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $119.95.

Beacon Roofing Supply Stock Performance

Beacon Roofing Supply stock opened at $123.83 on Thursday. Beacon Roofing Supply has a 1 year low of $77.54 and a 1 year high of $123.90. The company’s 50-day moving average is $116.92 and its two-hundred day moving average is $104.23. The company has a current ratio of 1.91, a quick ratio of 1.14 and a debt-to-equity ratio of 1.60. The company has a market cap of $7.63 billion, a PE ratio of 21.17 and a beta of 1.63.

Beacon Roofing Supply (NASDAQ:BECN) last posted its quarterly 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). Beacon Roofing Supply had a net margin of 3.86% and a return on equity of 25.32%. The company had revenue of $2.40 billion during the quarter, compared to analyst estimates of $2.43 billion. Equities analysts anticipate that Beacon Roofing Supply will post 7.22 earnings per share for the current year.

Institutional Investors Weigh In On Beacon Roofing Supply

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Quarry LP grew its holdings in shares of Beacon Roofing Supply by 180.7% in the 3rd quarter. Quarry LP now owns 306 shares of the company’s stock valued at $26,000 after acquiring an additional 197 shares in the last quarter. Harvest Fund Management Co. Ltd bought a new position in shares of Beacon Roofing Supply in the third quarter valued at $28,000. SBI Securities Co. Ltd. acquired a new stake in Beacon Roofing Supply in the fourth quarter valued at $31,000. Johnson Financial Group Inc. bought a new position in shares of Beacon Roofing Supply in the 4th quarter valued at about $54,000. Finally, PNC Financial Services Group Inc. increased 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 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.