Beacon Roofing Supply (NASDAQ:BECN) Cut to "Hold" at StockNews.com

Beacon Roofing Supply (NASDAQ:BECN - Get Free Report) was downgraded by research analysts at StockNews.com from a "buy" rating to a "hold" rating in a research note issued on Monday.

Other analysts also recently issued research reports about the stock. Robert W. Baird raised shares of Beacon Roofing Supply from a "neutral" rating to an "outperform" rating and raised their price objective for the stock from $99.00 to $115.00 in a research note on Thursday, February 29th. Stifel Nicolaus lifted their price target on shares of Beacon Roofing Supply from $115.00 to $119.00 and gave the company a "buy" rating in a research note on Tuesday, December 19th. TheStreet raised shares of Beacon Roofing Supply from a "c" rating to a "b-" rating in a research note on Tuesday, February 27th. JPMorgan Chase & Co. decreased their price target on shares of Beacon Roofing Supply from $103.00 to $97.00 and set an "overweight" rating for the company in a research note on Thursday, January 11th. Finally, Loop Capital lifted their price target on shares of Beacon Roofing Supply from $110.00 to $115.00 and gave the company a "buy" rating in a research note on Monday, April 1st. Three investment analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $97.27.

Beacon Roofing Supply Trading Down 0.8 %

BECN traded down $0.79 on Monday, hitting $101.26. The company had a trading volume of 317,804 shares, compared to its average volume of 734,822. The company has a market cap of $6.42 billion, a PE ratio of -215.45, a PEG ratio of 1.79 and a beta of 1.63. Beacon Roofing Supply has a 12-month low of $54.90 and a 12-month high of $102.83. The company has a quick ratio of 1.06, a current ratio of 1.85 and a debt-to-equity ratio of 1.30. The business's fifty day simple moving average is $89.37 and its 200 day simple moving average is $83.28.

Beacon Roofing Supply (NASDAQ:BECN - Get Free Report) last released its quarterly earnings results on Tuesday, February 27th. The company reported $1.47 EPS for the quarter, missing the consensus estimate of $1.69 by ($0.22). The company had revenue of $2.30 billion during the quarter, compared to analysts' expectations of $2.27 billion. Beacon Roofing Supply had a return on equity of 26.95% and a net margin of 4.74%. The company's revenue was up 16.8% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.18 EPS. Equities research analysts expect that Beacon Roofing Supply will post 7.86 EPS for the current year.

Insiders Place Their Bets

In other Beacon Roofing Supply news, EVP Christopher Carl Nelson sold 3,268 shares of Beacon Roofing Supply stock in a transaction on Thursday, March 28th. The shares were sold at an average price of $93.87, for a total value of $306,767.16. Following the transaction, the executive vice president now directly owns 176 shares of the company's stock, valued at $16,521.12. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, EVP Christopher Carl Nelson sold 3,268 shares of the business's stock in a transaction on Thursday, March 28th. The shares were sold at an average price of $93.87, for a total transaction of $306,767.16. Following the sale, the executive vice president now directly owns 176 shares of the company's stock, valued at $16,521.12. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Jason L. Taylor sold 1,805 shares of the business's stock in a transaction on Thursday, March 21st. The shares were sold at an average price of $95.00, for a total transaction of $171,475.00. Following the sale, the insider now directly owns 10,531 shares in the company, valued at $1,000,445. The disclosure for this sale can be found here. Corporate insiders own 1.30% of the company's stock.

Institutional Investors Weigh In On Beacon Roofing Supply

A number of large investors have recently made changes to their positions in BECN. Morgan Stanley lifted its position in Beacon Roofing Supply by 467.9% during the fourth quarter. Morgan Stanley now owns 1,313,406 shares of the company's stock valued at $69,335,000 after purchasing an additional 1,082,141 shares during the period. Vanguard Group Inc. lifted its position in Beacon Roofing Supply by 19.3% during the third quarter. Vanguard Group Inc. now owns 5,625,482 shares of the company's stock valued at $434,118,000 after purchasing an additional 909,819 shares during the period. Norges Bank acquired a new position in Beacon Roofing Supply during the fourth quarter valued at $59,850,000. JPMorgan Chase & Co. lifted its position in Beacon Roofing Supply by 301.1% during the first quarter. JPMorgan Chase & Co. now owns 849,092 shares of the company's stock valued at $49,969,000 after purchasing an additional 637,420 shares during the period. Finally, Royal Bank of Canada lifted its position in Beacon Roofing Supply by 102.2% during the fourth quarter. Royal Bank of Canada now owns 765,829 shares of the company's stock valued at $66,642,000 after purchasing an additional 387,060 shares during the period. 98.45% of the stock is owned by hedge funds and other institutional investors.

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.

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