Beacon Roofing Supply’s (BECN) “Buy” Rating Reaffirmed at Benchmark

Beacon Roofing Supply (NASDAQ:BECN)‘s stock had its “buy” rating reissued by investment analysts at Benchmark in a research report issued to clients and investors on Monday,Benzinga reports. They presently have a $140.00 price objective on the stock. Benchmark’s price target would indicate a potential upside of 21.15% from the stock’s current price.

Several other brokerages have also recently commented on BECN. StockNews.com assumed coverage on shares of Beacon Roofing Supply in a report on Saturday. They set a “sell” rating for the company. Stifel Nicolaus downgraded shares of Beacon Roofing Supply from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $131.00 to $122.55 in a research note 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 report on Tuesday, November 19th. Robert W. Baird upped their target price on Beacon Roofing Supply from $120.00 to $124.00 and gave the stock an “outperform” rating in a report on Friday. Finally, BMO Capital Markets raised their price target on Beacon Roofing Supply from $125.00 to $136.00 and gave the company an “outperform” rating in a research note on Thursday, January 16th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $120.62.

Beacon Roofing Supply Price Performance

BECN stock opened at $115.56 on Monday. The stock has a market cap of $7.12 billion, a PE ratio of 19.80 and a beta of 1.62. The stock has a 50-day moving average price of $112.56 and a two-hundred day moving average price of $101.59. Beacon Roofing Supply has a 1 year low of $77.54 and a 1 year high of $121.42. The company has a current ratio of 1.91, a quick ratio of 1.14 and a debt-to-equity ratio of 1.60.

Beacon Roofing Supply (NASDAQ:BECN) last posted its quarterly earnings data 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 return on equity of 25.32% and a net margin of 3.86%. The firm had revenue of $2.40 billion for the quarter, compared to the consensus estimate of $2.43 billion. Equities analysts forecast that Beacon Roofing Supply will post 7.22 EPS for the current fiscal year.

Institutional Trading of Beacon Roofing Supply

Several institutional investors and hedge funds have recently bought and sold shares of the business. US Bancorp DE increased its holdings in shares of Beacon Roofing Supply by 2.3% during the 3rd quarter. US Bancorp DE now owns 5,255 shares of the company’s stock worth $454,000 after acquiring an additional 116 shares during the last quarter. Fiera Capital Corp acquired a new stake in shares of Beacon Roofing Supply during the 3rd quarter worth about $1,723,000. Equitable Trust Co. lifted its stake in shares of Beacon Roofing Supply by 2.2% during the 3rd quarter. Equitable Trust Co. now owns 7,106 shares of the company’s stock worth $614,000 after buying an additional 156 shares during the last quarter. Meritage Portfolio Management boosted its holdings in shares of Beacon Roofing Supply by 11.4% during the 3rd quarter. Meritage Portfolio Management now owns 4,002 shares of the company’s stock worth $346,000 after buying an additional 408 shares during the period. Finally, WCM Investment Management LLC grew its stake in Beacon Roofing Supply by 1.6% in the 3rd quarter. WCM Investment Management LLC now owns 524,985 shares of the company’s stock valued at $46,052,000 after buying an additional 8,054 shares during the last quarter. Institutional investors 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.