Beacon Roofing Supply, Inc. (NASDAQ:BECN) was the target of a significant growth in short interest during the month of August. As of August 31st, there was short interest totalling 2,628,332 shares, a growth of 35.1% from the August 15th total of 1,945,076 shares. Based on an average daily volume of 985,409 shares, the short-interest ratio is currently 2.7 days. Approximately 4.4% of the company’s shares are sold short.

Institutional investors have recently added to or reduced their stakes in the company. SG Americas Securities LLC bought a new stake in shares of Beacon Roofing Supply in the 2nd quarter worth about $100,000. Advisors Asset Management Inc. lifted its holdings in shares of Beacon Roofing Supply by 36.7% in the 2nd quarter. Advisors Asset Management Inc. now owns 2,105 shares of the company’s stock worth $103,000 after acquiring an additional 565 shares during the last quarter. Huntington National Bank lifted its holdings in shares of Beacon Roofing Supply by 3.8% in the 2nd quarter. Huntington National Bank now owns 3,138 shares of the company’s stock worth $154,000 after acquiring an additional 116 shares during the last quarter. Lloyds Banking Group plc lifted its holdings in shares of Beacon Roofing Supply by 37.7% in the 2nd quarter. Lloyds Banking Group plc now owns 3,694 shares of the company’s stock worth $180,000 after acquiring an additional 1,012 shares during the last quarter. Finally, Advisor Group Inc. lifted its holdings in shares of Beacon Roofing Supply by 8.9% in the 2nd quarter. Advisor Group Inc. now owns 3,877 shares of the company’s stock worth $190,000 after acquiring an additional 316 shares during the last quarter.

Beacon Roofing Supply (NASDAQ BECN) opened at 48.68 on Friday. Beacon Roofing Supply has a 52-week low of $39.50 and a 52-week high of $52.12. The firm has a 50 day moving average of $44.89 and a 200-day moving average of $47.71. The stock has a market cap of $2.94 billion, a PE ratio of 28.91 and a beta of 1.30.

Beacon Roofing Supply (NASDAQ:BECN) last released its earnings results on Wednesday, August 2nd. The company reported $0.84 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.90 by ($0.06). The firm had revenue of $1.21 billion during the quarter, compared to the consensus estimate of $1.27 billion. Beacon Roofing Supply had a return on equity of 9.55% and a net margin of 2.42%. Beacon Roofing Supply’s revenue was up 5.3% compared to the same quarter last year. During the same quarter last year, the business posted $0.77 EPS. Equities analysts anticipate that Beacon Roofing Supply will post $2.20 earnings per share for the current fiscal year.

Several research firms have weighed in on BECN. Royal Bank Of Canada lowered their price target on shares of Beacon Roofing Supply from $58.00 to $50.00 and set an “outperform” rating for the company in a research note on Friday, August 4th. KeyCorp reissued a “buy” rating and issued a $56.00 price target on shares of Beacon Roofing Supply in a research note on Tuesday. SunTrust Banks, Inc. reissued a “buy” rating on shares of Beacon Roofing Supply in a research note on Tuesday. BidaskClub downgraded shares of Beacon Roofing Supply from a “sell” rating to a “strong sell” rating in a research note on Wednesday, August 2nd. Finally, Wedbush reissued a “neutral” rating and issued a $47.00 price target on shares of Beacon Roofing Supply in a research note on Wednesday, May 31st. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and seven have given a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average price target of $52.00.

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About Beacon Roofing Supply

Beacon Roofing Supply, Inc is engaged in the distribution of residential and non-residential roofing materials in the United States and Canada. It also distributes complementary building products for residential and non-residential building exteriors. Its product portfolio includes residential roofing products, non-residential roofing products and complementary building products.

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