Beacon Roofing Supply (NASDAQ:BECN) Stock Rating Lowered by StockNews.com

Beacon Roofing Supply (NASDAQ:BECN) was downgraded by investment analysts at StockNews.com from a “buy” rating to a “hold” rating in a research note issued on Monday.

Other equities research analysts have also issued reports about the stock. BMO Capital Markets increased their target price on shares of Beacon Roofing Supply from $95.00 to $120.00 and gave the stock an “outperform” rating in a report on Thursday, April 11th. Robert W. Baird boosted their target price on Beacon Roofing Supply from $115.00 to $117.00 and gave the company an “outperform” rating in a research note on Friday. TheStreet upgraded Beacon Roofing Supply from a “c” rating to a “b-” rating in a report on Tuesday, February 27th. William Blair upgraded Beacon Roofing Supply from a “market perform” rating to an “outperform” rating in a report on Monday, January 8th. Finally, Truist Financial boosted their price objective on Beacon Roofing Supply from $90.00 to $95.00 and gave the company a “hold” rating in a research report on Friday. Three research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $104.33.

Beacon Roofing Supply Trading Down 0.4 %

Shares of NASDAQ:BECN traded down $0.43 during midday trading on Monday, hitting $95.46. The company had a trading volume of 801,138 shares, compared to its average volume of 720,646. The company has a current ratio of 1.85, a quick ratio of 1.06 and a debt-to-equity ratio of 1.30. Beacon Roofing Supply has a 12 month low of $57.88 and a 12 month high of $103.75. The firm has a fifty day simple moving average of $93.91 and a 200 day simple moving average of $86.28. The stock has a market cap of $6.06 billion, a price-to-earnings ratio of -151.52 and a beta of 1.59.

Beacon Roofing Supply (NASDAQ:BECN) last issued its earnings results on Tuesday, February 27th. The company reported $1.47 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.69 by ($0.22). The company had revenue of $2.30 billion for the quarter, compared to the consensus estimate of $2.27 billion. Beacon Roofing Supply had a return on equity of 26.31% and a net margin of 4.47%. Beacon Roofing Supply’s quarterly revenue was up 16.8% on a year-over-year basis. During the same quarter last year, the business posted $1.18 EPS. On average, analysts predict that Beacon Roofing Supply will post 7.78 EPS for the current year.

Insider Activity

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

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. boosted 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 worth $434,118,000 after purchasing an additional 909,819 shares during the period. Norges Bank acquired a new stake in shares of Beacon Roofing Supply during the 4th quarter worth about $59,850,000. Intrinsic Edge Capital Management LLC bought a new stake in shares of Beacon Roofing Supply during the 4th quarter worth about $33,416,000. Acadian Asset Management LLC boosted its holdings in shares of Beacon Roofing Supply by 4,518.3% during the 3rd quarter. Acadian Asset Management LLC now owns 356,902 shares of the company’s stock worth $27,527,000 after buying an additional 349,174 shares during the period. Finally, Frontier Capital Management Co. LLC grew its stake in Beacon Roofing Supply by 17.3% in the 4th quarter. Frontier Capital Management Co. LLC now owns 2,126,533 shares of the company’s stock valued at $185,051,000 after buying an additional 314,102 shares during the last quarter. 98.45% of the stock is currently owned by institutional investors.

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.