Beacon Roofing Supply, Inc. (NASDAQ:BECN) Short Interest Down 17.3% in February

Beacon Roofing Supply, Inc. (NASDAQ:BECN) was the target of a large drop in short interest in the month of February. As of February 15th, there was short interest totalling 1,050,000 shares, a drop of 17.3% from the January 31st total of 1,270,000 shares. Approximately 1.7% of the company’s stock are short sold. Based on an average daily volume of 791,800 shares, the short-interest ratio is currently 1.3 days.

Beacon Roofing Supply Stock Down 1.2 %

Beacon Roofing Supply stock opened at $111.51 on Wednesday. Beacon Roofing Supply has a 1-year low of $77.54 and a 1-year high of $121.42. The business has a fifty day moving average price of $113.00 and a 200-day moving average price of $101.95. The company has a debt-to-equity ratio of 1.60, a current ratio of 1.91 and a quick ratio of 1.14. The stock has a market capitalization of $6.87 billion, a price-to-earnings ratio of 19.06 and a beta of 1.62.

Beacon Roofing Supply (NASDAQ:BECN) last issued its quarterly earnings results on Thursday, February 27th. The company reported $1.65 earnings per share 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 analyst estimates of $2.43 billion. Equities research analysts forecast that Beacon Roofing Supply will post 7.22 EPS for the current fiscal year.

Institutional Trading of Beacon Roofing Supply

Several large investors have recently bought and sold shares of the stock. Quarry LP raised its holdings in shares of Beacon Roofing Supply by 180.7% in the third quarter. Quarry LP now owns 306 shares of the company’s stock worth $26,000 after buying an additional 197 shares during the last quarter. Harvest Fund Management Co. Ltd acquired a new position in shares of Beacon Roofing Supply in the 3rd quarter valued at $28,000. SBI Securities Co. Ltd. acquired a new position in shares of Beacon Roofing Supply in the 4th quarter valued at $31,000. Johnson Financial Group Inc. purchased a new position in Beacon Roofing Supply in the 4th quarter worth $54,000. Finally, PNC Financial Services Group Inc. lifted its position in 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 acquiring an additional 163 shares during the period. Hedge funds and other institutional investors own 98.45% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently weighed in on BECN. Benchmark reaffirmed a “buy” rating and issued a $140.00 price target on shares of Beacon Roofing Supply in a research report on Monday. StockNews.com started coverage on Beacon Roofing Supply in a report on Saturday. They set a “sell” rating for the company. JPMorgan Chase & Co. lifted their price target on Beacon Roofing Supply from $119.00 to $136.00 and gave the company an “overweight” rating in a report on Tuesday, November 19th. BMO Capital Markets reduced their price target on Beacon Roofing Supply from $136.00 to $130.00 and set an “outperform” rating for the company in a research report on Tuesday. Finally, Stifel Nicolaus downgraded Beacon Roofing Supply from a “buy” rating to a “hold” rating and dropped their price objective for the company from $131.00 to $122.55 in a research report on Friday, February 7th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $119.95.

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.