Beacon Roofing Supply, Inc. (NASDAQ:BECN) Receives $119.95 Average Price Target from Analysts

Beacon Roofing Supply, Inc. (NASDAQ:BECN) has been assigned an average rating of “Hold” from the twelve brokerages that are currently covering the stock, Marketbeat reports. Seven investment analysts have rated the stock with a hold rating and five have issued a buy rating on the company. The average 12 month price objective among brokerages that have issued a report on the stock in the last year is $120.95.

A number of research analysts have weighed in on BECN shares. Robert W. Baird lifted their price target on shares of Beacon Roofing Supply from $120.00 to $124.00 and gave the company an “outperform” rating in a research note on Friday, February 28th. StockNews.com began coverage on shares of Beacon Roofing Supply in a research report on Tuesday. They issued a “sell” rating on the stock. Zelman & Associates cut Beacon Roofing Supply from a “strong-buy” rating to a “hold” rating in a report on Thursday, January 16th. Stifel Nicolaus lowered Beacon Roofing Supply from a “buy” rating to a “hold” rating and cut their price target for the company from $131.00 to $122.55 in a report on Friday, February 7th. Finally, William Blair reaffirmed a “market perform” rating on shares of Beacon Roofing Supply in a research report on Thursday, March 20th.

Beacon Roofing Supply Price Performance

BECN opened at $123.82 on Tuesday. The company has a fifty day simple moving average of $117.72 and a 200 day simple moving average of $105.01. 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 $7.63 billion, a P/E ratio of 21.17 and a beta of 1.63. Beacon Roofing Supply has a 12 month low of $77.54 and a 12 month high of $123.90.

Beacon Roofing Supply (NASDAQ:BECN) last announced its quarterly earnings results on Thursday, February 27th. The company reported $1.65 earnings per share (EPS) for the quarter, missing the consensus estimate 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 business had revenue of $2.40 billion during the quarter, compared to the consensus estimate of $2.43 billion. On average, research analysts expect that Beacon Roofing Supply will post 7.22 EPS for the current year.

Institutional Investors Weigh In On Beacon Roofing Supply

Institutional investors and hedge funds have recently made changes to their positions in the stock. Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in shares of Beacon Roofing Supply in the 4th quarter valued at about $3,184,000. Polar Asset Management Partners Inc. acquired a new position in Beacon Roofing Supply during the fourth quarter worth approximately $4,510,000. Forum Financial Management LP bought a new stake in Beacon Roofing Supply in the fourth quarter valued at approximately $224,000. Amiral Gestion acquired a new stake in shares of Beacon Roofing Supply in the fourth quarter valued at approximately $1,478,000. Finally, Public Employees Retirement System of Ohio bought a new position in shares of Beacon Roofing Supply during the 4th quarter worth approximately $9,873,000. 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.