Beacon Roofing Supply (NASDAQ:BECN) Earns “Market Perform” Rating from William Blair

Beacon Roofing Supply (NASDAQ:BECN)‘s stock had its “market perform” rating reaffirmed by analysts at William Blair in a research report issued on Thursday,Benzinga reports.

Several other brokerages also recently weighed in on BECN. Stifel Nicolaus downgraded shares of Beacon Roofing Supply from a “buy” rating to a “hold” rating and cut their target price for the stock from $131.00 to $122.55 in a research note on Friday, February 7th. Robert W. Baird upped their target price on shares of Beacon Roofing Supply from $120.00 to $124.00 and gave the stock an “outperform” rating in a research note on Friday, February 28th. Zelman & Associates downgraded shares of Beacon Roofing Supply from a “strong-buy” rating to a “hold” rating in a research note on Thursday, January 16th. BMO Capital Markets cut their target price on shares of Beacon Roofing Supply from $136.00 to $130.00 and set an “outperform” rating on the stock in a research note on Tuesday, March 4th. Finally, Benchmark reaffirmed a “buy” rating and set a $140.00 target price on shares of Beacon Roofing Supply in a research note on Monday, March 3rd. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, Beacon Roofing Supply presently has an average rating of “Hold” and a consensus price target of $119.95.

Beacon Roofing Supply Trading Up 1.9 %

Shares of Beacon Roofing Supply stock traded up $2.28 on Thursday, reaching $123.81. The company had a trading volume of 20,786,358 shares, compared to its average volume of 831,409. The firm’s 50 day moving average price is $116.16 and its two-hundred day moving average price is $103.97. The firm has a market cap of $7.62 billion, a PE ratio of 21.16 and a beta of 1.63. Beacon Roofing Supply has a 52-week low of $77.54 and a 52-week high of $123.93. 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 (NASDAQ:BECN) last released its quarterly earnings results on Thursday, February 27th. The company reported $1.65 earnings per share (EPS) 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 analysts’ expectations of $2.43 billion. Sell-side analysts predict that Beacon Roofing Supply will post 7.22 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its holdings in shares of Beacon Roofing Supply by 0.4% in the 4th quarter. Vanguard Group Inc. now owns 6,509,495 shares of the company’s stock valued at $661,235,000 after buying an additional 24,027 shares in the last quarter. FMR LLC boosted its holdings in shares of Beacon Roofing Supply by 17.6% in the 3rd quarter. FMR LLC now owns 6,435,880 shares of the company’s stock valued at $556,253,000 after buying an additional 963,633 shares in the last quarter. Boston Partners boosted its holdings in shares of Beacon Roofing Supply by 1.3% in the 4th quarter. Boston Partners now owns 4,531,106 shares of the company’s stock valued at $462,417,000 after buying an additional 59,630 shares in the last quarter. Frontier Capital Management Co. LLC boosted its holdings in shares of Beacon Roofing Supply by 16.0% in the 4th quarter. Frontier Capital Management Co. LLC now owns 2,384,793 shares of the company’s stock valued at $242,247,000 after buying an additional 329,047 shares in the last quarter. Finally, State Street Corp boosted its holdings in shares of Beacon Roofing Supply by 1.1% in the 3rd quarter. State Street Corp now owns 1,471,500 shares of the company’s stock valued at $127,182,000 after buying an additional 15,505 shares in the last quarter. Institutional investors and hedge funds own 98.45% of the company’s stock.

About Beacon Roofing Supply

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.