Beacon Roofing Supply (NASDAQ:BECN) Price Target Lowered to $130.00 at BMO Capital Markets

Beacon Roofing Supply (NASDAQ:BECN) had its target price decreased by equities researchers at BMO Capital Markets from $136.00 to $130.00 in a research note issued to investors on Tuesday,Benzinga reports. The brokerage currently has an “outperform” rating on the stock. BMO Capital Markets’ price target would indicate a potential upside of 15.79% from the company’s current price.

A number of other research firms also recently issued reports on BECN. Zelman & Associates downgraded Beacon Roofing Supply from a “strong-buy” rating to a “hold” rating in a research note on Thursday, January 16th. Stifel Nicolaus lowered 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 research note on Friday, February 7th. Stephens reiterated an “equal weight” rating and issued a $103.00 price target on shares of Beacon Roofing Supply in a report on Tuesday, November 19th. Robert W. Baird boosted their price target on Beacon Roofing Supply from $120.00 to $124.00 and gave the company an “outperform” rating in a report on Friday. Finally, Benchmark reiterated a “buy” rating and issued a $140.00 price objective on shares of Beacon Roofing Supply in a research report on Monday. One 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. Based on data from MarketBeat, Beacon Roofing Supply currently has a consensus rating of “Hold” and a consensus target price of $119.95.

Beacon Roofing Supply Trading Down 0.6 %

Shares of NASDAQ BECN traded down $0.64 during midday trading on Tuesday, reaching $112.28. 327,524 shares of the stock were exchanged, compared to its average volume of 926,613. The stock has a market capitalization of $6.91 billion, a P/E ratio of 19.19 and a beta of 1.62. 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 twelve month low of $77.54 and a twelve month high of $121.42. The company has a 50 day simple moving average of $112.80 and a 200 day simple moving average of $101.77.

Beacon Roofing Supply (NASDAQ:BECN) last announced 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 for the quarter, compared to analyst estimates of $2.43 billion. As a group, equities analysts expect that Beacon Roofing Supply will post 7.22 earnings per share for the current year.

Institutional Trading of Beacon Roofing Supply

Institutional investors have recently bought and sold shares of the business. US Bancorp DE grew its stake in shares of Beacon Roofing Supply by 2.3% during the third quarter. US Bancorp DE now owns 5,255 shares of the company’s stock worth $454,000 after purchasing an additional 116 shares during the period. Equitable Trust Co. grew its holdings in Beacon Roofing Supply by 1.7% during the fourth quarter. Equitable Trust Co. now owns 7,228 shares of the company’s stock valued at $734,000 after purchasing an additional 122 shares during the period. Nomura Asset Management Co. Ltd. grew its holdings in Beacon Roofing Supply by 26.3% during the fourth quarter. Nomura Asset Management Co. Ltd. now owns 720 shares of the company’s stock valued at $73,000 after purchasing an additional 150 shares during the period. PNC Financial Services Group Inc. increased its stake in Beacon Roofing Supply by 38.1% in the fourth quarter. PNC Financial Services Group Inc. now owns 591 shares of the company’s stock valued at $60,000 after purchasing an additional 163 shares in the last quarter. Finally, Cornerstone Investment Partners LLC raised its holdings in Beacon Roofing Supply by 3.6% in the fourth quarter. Cornerstone Investment Partners LLC now owns 4,730 shares of the company’s stock worth $480,000 after purchasing an additional 166 shares during the period. 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.