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 report published on Friday. The firm issued a sell rating on the stock.

Several other equities research analysts also recently commented on the stock. Zelman & Associates downgraded shares of Beacon Roofing Supply from a “strong-buy” rating to a “hold” rating in a report on Thursday, January 16th. Stifel Nicolaus downgraded shares of Beacon Roofing Supply from a “buy” rating to a “hold” rating and dropped their price objective for the company from $131.00 to $122.55 in a report on Friday, February 7th. Royal Bank of Canada upped their price objective on shares of Beacon Roofing Supply from $113.00 to $114.00 and gave the company an “outperform” rating in a report on Friday, November 1st. BMO Capital Markets upped their price objective on shares of Beacon Roofing Supply from $125.00 to $136.00 and gave the company an “outperform” rating in a report on Thursday, January 16th. Finally, JPMorgan Chase & Co. increased their price target on shares of Beacon Roofing Supply from $119.00 to $136.00 and gave the stock an “overweight” rating in a report on Tuesday, November 19th. One research analyst has rated the stock with a sell rating, four have given a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $120.17.

Beacon Roofing Supply Price Performance

BECN opened at $116.62 on Friday. The firm has a market cap of $7.18 billion, a P/E ratio of 19.93 and a beta of 1.62. The firm has a 50-day moving average of $111.30 and a 200 day moving average of $100.51. 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 fifty-two week low of $77.54 and a fifty-two week high of $121.42.

Institutional Investors Weigh In On Beacon Roofing Supply

A number of institutional investors and hedge funds have recently bought and sold shares of BECN. Quarry LP raised its stake in Beacon Roofing Supply by 180.7% in the third quarter. Quarry LP now owns 306 shares of the company’s stock valued at $26,000 after purchasing an additional 197 shares in the last quarter. Blue Trust Inc. raised its stake in Beacon Roofing Supply by 222.1% in the third quarter. Blue Trust Inc. now owns 306 shares of the company’s stock valued at $28,000 after purchasing an additional 211 shares in the last quarter. Harvest Fund Management Co. Ltd purchased a new stake in Beacon Roofing Supply in the third quarter valued at approximately $28,000. SBI Securities Co. Ltd. purchased a new stake in Beacon Roofing Supply in the fourth quarter valued at approximately $31,000. Finally, Johnson Financial Group Inc. purchased a new stake in Beacon Roofing Supply in the fourth quarter valued at approximately $54,000. 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.