Beacon Roofing Supply (NASDAQ:BECN) Earns Sell Rating from Analysts at StockNews.com

Equities research analysts at StockNews.com started coverage on shares of Beacon Roofing Supply (NASDAQ:BECN) in a note issued to investors on Thursday. The firm set a “sell” rating on the stock.

Several other equities analysts have also recently weighed in on the company. Zelman & Associates cut Beacon Roofing Supply from a “strong-buy” rating to a “hold” rating in a report on Thursday, January 16th. Royal Bank of Canada upped their price target 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. Stifel Nicolaus lowered shares of Beacon Roofing Supply from a “buy” rating to a “hold” rating and dropped their price objective for the stock from $131.00 to $122.55 in a report on Friday, February 7th. Stephens reaffirmed an “equal weight” rating and issued a $103.00 target price on shares of Beacon Roofing Supply in a research note on Tuesday, November 19th. Finally, Benchmark reissued a “buy” rating and issued a $140.00 price target on shares of Beacon Roofing Supply in a research note on Friday, November 1st. One equities 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, Beacon Roofing Supply presently has a consensus rating of “Hold” and a consensus target price of $120.17.

Beacon Roofing Supply Price Performance

BECN opened at $119.30 on Thursday. The company has a fifty day simple moving average of $110.27 and a 200 day simple moving average of $99.37. The company has a quick ratio of 1.14, a current ratio of 1.91 and a debt-to-equity ratio of 1.60. The stock has a market cap of $7.38 billion, a P/E ratio of 20.39 and a beta of 1.62. Beacon Roofing Supply has a 12 month low of $77.54 and a 12 month high of $121.42.

Insider Buying and Selling at Beacon Roofing Supply

In other news, insider Jason L. Taylor sold 2,600 shares of the company’s stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $110.00, for a total transaction of $286,000.00. Following the sale, the insider now owns 6,531 shares in the company, valued at $718,410. This represents a 28.47 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Corporate insiders own 1.30% of the company’s stock.

Hedge Funds Weigh In On Beacon Roofing Supply

A number of institutional investors have recently added to or reduced their stakes in the company. Quarry LP grew its position 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 during the period. Blue Trust Inc. grew its holdings in Beacon Roofing Supply by 222.1% during the third quarter. Blue Trust Inc. now owns 306 shares of the company’s stock worth $28,000 after purchasing an additional 211 shares during the period. Harvest Fund Management Co. Ltd bought a new stake in Beacon Roofing Supply in the third quarter valued at approximately $28,000. SBI Securities Co. Ltd. acquired a new stake in shares of Beacon Roofing Supply in the fourth quarter valued at approximately $31,000. Finally, Johnson Financial Group Inc. acquired a new stake in shares of Beacon Roofing Supply in the fourth quarter valued at approximately $54,000. 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.