Beacon Roofing Supply, Inc. (BECN) Short Interest Update

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.

Institutional investors have recently modified their holdings of the company. Cerebellum GP LLC acquired a new position in shares of Beacon Roofing Supply in the 4th quarter valued at $130,000. Zions Bancorporation acquired a new position in shares of Beacon Roofing Supply in the 3rd quarter valued at $124,000. CAPROCK Group Inc. acquired a new position in shares of Beacon Roofing Supply in the 4th quarter valued at $212,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of Beacon Roofing Supply by 95.5% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,861 shares of the company’s stock valued at $246,000 after buying an additional 1,886 shares in the last quarter. Finally, Advisor Group Inc. raised its position in Beacon Roofing Supply by 8.9% in the 2nd quarter. Advisor Group Inc. now owns 3,877 shares of the company’s stock valued at $190,000 after purchasing an additional 316 shares during the last quarter.

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.

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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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