Beacon Roofing Supply, Inc. (NASDAQ:BECN) was the recipient of a significant decline in short interest in January. As of January 31st, there was short interest totalling 987,951 shares, a decline of 37.0% from the January 12th total of 1,568,220 shares. Based on an average daily volume of 560,176 shares, the short-interest ratio is presently 1.8 days. Approximately 1.5% of the company’s stock are short sold.
Several research analysts have commented on BECN shares. Wedbush reiterated a “neutral” rating and set a $46.00 price target (down previously from $52.00) on shares of Beacon Roofing Supply in a report on Friday, November 17th. Citigroup lowered their price target on shares of Beacon Roofing Supply from $65.00 to $60.00 and set a “neutral” rating for the company in a report on Friday. Zacks Investment Research upgraded shares of Beacon Roofing Supply from a “hold” rating to a “buy” rating and set a $70.00 price target for the company in a report on Tuesday, January 23rd. Robert W. Baird reiterated an “outperform” rating and set a $70.00 price target (up previously from $55.00) on shares of Beacon Roofing Supply in a report on Tuesday, November 21st. Finally, KeyCorp reiterated a “buy” rating and set a $56.00 price target on shares of Beacon Roofing Supply in a report on Sunday, October 15th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and seven have assigned a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus price target of $59.91.
In related news, CEO Paul Isabella sold 40,000 shares of Beacon Roofing Supply stock in a transaction that occurred on Monday, November 27th. The shares were sold at an average price of $60.57, for a total value of $2,422,800.00. Following the completion of the transaction, the chief executive officer now owns 172,046 shares in the company, valued at $10,420,826.22. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Ross D. Cooper sold 2,000 shares of the business’s stock in a transaction that occurred on Tuesday, November 21st. The stock was sold at an average price of $59.75, for a total transaction of $119,500.00. Following the transaction, the executive vice president now owns 7,056 shares of the company’s stock, valued at approximately $421,596. The disclosure for this sale can be found here. Insiders own 0.77% of the company’s stock.
Beacon Roofing Supply (BECN) opened at $55.07 on Monday. Beacon Roofing Supply has a twelve month low of $39.57 and a twelve month high of $66.47. The company has a debt-to-equity ratio of 0.42, a current ratio of 2.06 and a quick ratio of 1.35. The stock has a market cap of $3,743.05, a price-to-earnings ratio of 24.15, a PEG ratio of 1.14 and a beta of 1.35.
Beacon Roofing Supply (NASDAQ:BECN) last issued its earnings results on Thursday, February 8th. The company reported $0.68 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.54 by $0.14. Beacon Roofing Supply had a net margin of 3.29% and a return on equity of 10.15%. The business had revenue of $1.12 billion during the quarter, compared to analysts’ expectations of $1.10 billion. During the same quarter in the prior year, the business posted $0.56 EPS. The company’s revenue for the quarter was up 12.0% on a year-over-year basis. sell-side analysts expect that Beacon Roofing Supply will post 3.57 earnings per share for the current year.
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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