Short Interest in Beacon Roofing Supply, Inc. (NASDAQ:BECN) Increases By 7.7%

Beacon Roofing Supply, Inc. (NASDAQ:BECN) was the recipient of a large growth in short interest in the month of December. As of December 31st, there was short interest totalling 3,920,000 shares, a growth of 7.7% from the December 15th total of 3,640,000 shares. Based on an average daily volume of 545,300 shares, the short-interest ratio is currently 7.2 days. Approximately 7.2% of the shares of the stock are sold short.

A number of analysts have issued reports on BECN shares. Northcoast Research upgraded shares of Beacon Roofing Supply from a “neutral” rating to a “buy” rating and set a $40.00 price target on the stock in a report on Tuesday, January 7th. JPMorgan Chase & Co. downgraded shares of Beacon Roofing Supply from a “neutral” rating to an “underweight” rating and set a $29.00 price target on the stock. in a report on Thursday, September 26th. Berenberg Bank started coverage on shares of Beacon Roofing Supply in a report on Tuesday. They issued a “hold” rating and a $31.00 price target on the stock. ValuEngine upgraded shares of Beacon Roofing Supply from a “strong sell” rating to a “sell” rating in a report on Thursday, November 21st. Finally, Royal Bank of Canada reiterated a “neutral” rating on shares of Beacon Roofing Supply in a report on Wednesday, December 18th. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating and five have assigned a buy rating to the company. Beacon Roofing Supply currently has an average rating of “Hold” and an average price target of $34.50.

Shares of NASDAQ:BECN traded down $0.12 on Friday, reaching $36.18. The company’s stock had a trading volume of 4,484 shares, compared to its average volume of 466,227. Beacon Roofing Supply has a 52-week low of $26.50 and a 52-week high of $40.00. The company has a market cap of $2.50 billion, a P/E ratio of 16.04, a PEG ratio of 1.31 and a beta of 1.39. The company has a 50-day simple moving average of $31.46 and a 200 day simple moving average of $32.85. The company has a debt-to-equity ratio of 1.39, a quick ratio of 1.04 and a current ratio of 1.75.

Beacon Roofing Supply (NASDAQ:BECN) last issued its quarterly earnings data on Monday, November 25th. The company reported $1.04 EPS for the quarter, missing analysts’ consensus estimates of $1.21 by ($0.17). Beacon Roofing Supply had a positive return on equity of 9.55% and a negative net margin of 0.15%. The business had revenue of $2.03 billion during the quarter, compared to analysts’ expectations of $2.05 billion. During the same period in the previous year, the business earned $1.07 earnings per share. The business’s quarterly revenue was up 4.9% on a year-over-year basis. On average, equities research analysts forecast that Beacon Roofing Supply will post 2.59 EPS for the current fiscal year.

In other news, Director Richard W. Frost acquired 3,000 shares of the firm’s stock in a transaction dated Wednesday, November 27th. The shares were purchased at an average cost of $30.05 per share, for a total transaction of $90,150.00. Following the transaction, the director now directly owns 37,249 shares of the company’s stock, valued at $1,119,332.45. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Stuart A. Randle sold 5,802 shares of the firm’s stock in a transaction on Wednesday, December 11th. The shares were sold at an average price of $30.06, for a total transaction of $174,408.12. Following the sale, the director now owns 35,519 shares in the company, valued at $1,067,701.14. The disclosure for this sale can be found here. 1.40% of the stock is owned by company insiders.

Several large investors have recently modified their holdings of the business. Griffin Asset Management Inc. purchased a new position in shares of Beacon Roofing Supply in the 2nd quarter worth $37,000. California State Teachers Retirement System grew its stake in shares of Beacon Roofing Supply by 1.1% in the 3rd quarter. California State Teachers Retirement System now owns 105,850 shares of the company’s stock worth $3,549,000 after buying an additional 1,104 shares in the last quarter. Point72 Hong Kong Ltd grew its stake in shares of Beacon Roofing Supply by 13,564.3% in the 2nd quarter. Point72 Hong Kong Ltd now owns 1,913 shares of the company’s stock worth $70,000 after buying an additional 1,899 shares in the last quarter. Eagle Asset Management Inc. grew its stake in shares of Beacon Roofing Supply by 1.5% in the 3rd quarter. Eagle Asset Management Inc. now owns 205,811 shares of the company’s stock worth $6,900,000 after buying an additional 3,031 shares in the last quarter. Finally, United Services Automobile Association boosted its stake in shares of Beacon Roofing Supply by 30.1% during the 2nd quarter. United Services Automobile Association now owns 13,530 shares of the company’s stock worth $497,000 after purchasing an additional 3,128 shares during the period.

Beacon Roofing Supply Company Profile

Beacon Roofing Supply, Inc, together with its subsidiaries, distributes residential and commercial roofing materials, and other complementary building materials to contractors, home builders, retailers, and building materials suppliers. The company's residential roofing products include asphalt shingles, synthetic slates and tiles, clay and concrete tiles, slates, nail base insulations, metal roofing, felts, synthetic underlayment, wood shingles and shakes, nails and fasteners, metal edgings and flashings, prefabricated flashings, ridges and soffit vents, and solar systems.

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