Beacon Roofing Supply, Inc. (NASDAQ:BECN) Receives $120.17 Average Price Target from Brokerages

Beacon Roofing Supply, Inc. (NASDAQ:BECN - Get Free Report) has been assigned an average recommendation of "Moderate Buy" from the ten research firms that are presently covering the stock, MarketBeat.com reports. Four equities research analysts have rated the stock with a hold recommendation and six have assigned a buy recommendation to the company. The average 12 month target price among brokerages that have issued ratings on the stock in the last year is $120.17.

BECN has been the subject of a number of research reports. Stifel Nicolaus cut shares of Beacon Roofing Supply from a "buy" rating to a "hold" rating and dropped their target price for the stock from $131.00 to $122.55 in a report on Friday, February 7th. StockNews.com began coverage on Beacon Roofing Supply in a research note on Friday, February 21st. They issued a "sell" rating for the company. BMO Capital Markets upped their price objective 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. Zelman & Associates downgraded Beacon Roofing Supply from a "strong-buy" rating to a "hold" rating in a research note on Thursday, January 16th. Finally, JPMorgan Chase & Co. upped their price objective on Beacon Roofing Supply from $119.00 to $136.00 and gave the company an "overweight" rating in a research note on Tuesday, November 19th.

Institutional Trading of Beacon Roofing Supply

A number of large investors have recently added to or reduced their stakes in BECN. Intech Investment Management LLC purchased a new position in Beacon Roofing Supply during the 3rd quarter valued at $1,441,000. Barclays PLC boosted its holdings in Beacon Roofing Supply by 272.0% during the 3rd quarter. Barclays PLC now owns 122,024 shares of the company's stock valued at $10,547,000 after acquiring an additional 89,222 shares during the period. Choreo LLC lifted its holdings in shares of Beacon Roofing Supply by 30.6% in the 4th quarter. Choreo LLC now owns 10,183 shares of the company's stock worth $1,014,000 after buying an additional 2,383 shares during the period. JPMorgan Chase & Co. lifted its holdings in shares of Beacon Roofing Supply by 16.3% in the 3rd quarter. JPMorgan Chase & Co. now owns 356,922 shares of the company's stock worth $30,849,000 after buying an additional 49,902 shares during the period. Finally, BNP Paribas Financial Markets lifted its holdings in shares of Beacon Roofing Supply by 23.0% in the 3rd quarter. BNP Paribas Financial Markets now owns 42,441 shares of the company's stock worth $3,668,000 after buying an additional 7,924 shares during the period. Institutional investors own 98.45% of the company's stock.

Beacon Roofing Supply Stock Down 0.6 %

BECN traded down $0.68 during trading on Friday, reaching $115.32. 543,292 shares of the stock were exchanged, compared to its average volume of 955,708. The stock has a market cap of $7.10 billion, a P/E ratio of 19.71 and a beta of 1.62. Beacon Roofing Supply has a twelve month low of $77.54 and a twelve month high of $121.42. The stock's 50 day moving average price is $112.01 and its two-hundred day moving average price is $101.05. 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 - Get Free Report) last released its quarterly earnings results on Thursday, February 27th. The company reported $1.65 EPS for the quarter, missing the consensus estimate of $1.66 by ($0.01). Beacon Roofing Supply had a net margin of 3.86% and a return on equity of 25.32%. Equities analysts expect that Beacon Roofing Supply will post 7.22 EPS for the current year.

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.