Beacon Roofing Supply (NASDAQ:BECN) Coverage Initiated by Analysts at StockNews.com

Stock analysts at StockNews.com initiated coverage on shares of Beacon Roofing Supply (NASDAQ:BECN - Get Free Report) in a research note issued to investors on Sunday. The brokerage set a "sell" rating on the stock.

BECN has been the topic of several other research reports. BMO Capital Markets reaffirmed a "market perform" rating and issued a $124.35 price target (down previously from $130.00) on shares of Beacon Roofing Supply in a research note on Thursday, April 17th. Baird R W downgraded shares of Beacon Roofing Supply from a "strong-buy" rating to a "hold" rating in a research note on Thursday, March 20th. Raymond James cut shares of Beacon Roofing Supply from a "moderate buy" rating to a "hold" rating in a research report on Friday, March 21st. Robert W. Baird boosted 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 report on Friday, February 28th. Finally, Stifel Nicolaus lowered shares of Beacon Roofing Supply from a "buy" rating to a "hold" rating and dropped their price objective for the stock from $131.00 to $122.55 in a report on Friday, February 7th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and three have assigned a buy rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $124.78.

Beacon Roofing Supply Stock Performance

Shares of NASDAQ:BECN remained flat at $124.17 on Friday. Beacon Roofing Supply has a 52-week low of $77.54 and a 52-week high of $124.31. The firm has a market cap of $7.67 billion, a PE ratio of 21.23 and a beta of 1.31. The company's 50-day moving average is $122.01 and its 200 day moving average is $113.26. 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 posted 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 return on equity of 25.32% and a net margin of 3.86%. The business had revenue of $2.40 billion for the quarter, compared to analyst estimates of $2.43 billion. As a group, sell-side analysts forecast that Beacon Roofing Supply will post 7.22 earnings per share for the current year.

Insider Buying and Selling

In other news, insider Jonathan Stuart Bennett sold 8,487 shares of the stock in a transaction on Monday, April 7th. The stock was sold at an average price of $122.14, for a total value of $1,036,602.18. Following the transaction, the insider now owns 22,642 shares of the company's stock, valued at $2,765,493.88. This represents a 27.26 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Christopher Carl Nelson sold 16,595 shares of the firm's stock in a transaction on Thursday, April 3rd. The stock was sold at an average price of $123.61, for a total value of $2,051,307.95. Following the completion of the transaction, the executive vice president now owns 463 shares in the company, valued at $57,231.43. This represents a 97.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 54,806 shares of company stock worth $6,745,448 over the last three months. 1.30% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the company. SBI Securities Co. Ltd. bought a new position in Beacon Roofing Supply during the fourth quarter worth about $31,000. Versant Capital Management Inc grew its holdings in shares of Beacon Roofing Supply by 133.7% in the 1st quarter. Versant Capital Management Inc now owns 388 shares of the company's stock valued at $48,000 after acquiring an additional 222 shares in the last quarter. Johnson Financial Group Inc. bought a new position in Beacon Roofing Supply in the fourth quarter valued at approximately $54,000. PNC Financial Services Group Inc. increased its position in shares of Beacon Roofing Supply by 38.1% during the 4th quarter. PNC Financial Services Group Inc. now owns 591 shares of the company's stock worth $60,000 after purchasing an additional 163 shares during the last quarter. Finally, Nomura Asset Management Co. Ltd. raised its stake in shares of Beacon Roofing Supply by 26.3% during the 4th quarter. Nomura Asset Management Co. Ltd. now owns 720 shares of the company's stock worth $73,000 after purchasing an additional 150 shares in the last quarter. Institutional investors and hedge funds own 98.45% of the company's stock.

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.