Investors Purchase Large Volume of Put Options on Beacon Roofing Supply (BECN)

Beacon Roofing Supply, Inc. (NASDAQ:BECN) was the target of unusually large options trading on Friday. Stock investors bought 1,758 put options on the company. This represents an increase of approximately 1,712% compared to the typical volume of 97 put options.

A number of brokerages have commented on BECN. Royal Bank of Canada set a $66.00 price target on Beacon Roofing Supply and gave the stock a “buy” rating in a research report on Friday. Citigroup dropped their price objective on Beacon Roofing Supply from $65.00 to $60.00 and set a “neutral” rating for the company in a research note on Friday. BidaskClub lowered Beacon Roofing Supply from a “hold” rating to a “sell” rating in a research note on Wednesday, January 24th. Zacks Investment Research raised Beacon Roofing Supply from a “hold” rating to a “buy” rating and set a $70.00 price objective for the company in a research note on Tuesday, January 23rd. Finally, Jefferies Group reaffirmed a “buy” rating and issued a $73.00 price objective on shares of Beacon Roofing Supply in a research note on Wednesday, January 17th. One analyst has rated the stock with a sell rating, four have given a hold rating and seven have issued a buy rating to the company. Beacon Roofing Supply presently has an average rating of “Buy” and a consensus target price of $59.91.

In other Beacon Roofing Supply news, EVP Ross D. Cooper sold 2,000 shares of the company’s stock in a transaction dated Tuesday, November 21st. The stock was sold at an average price of $59.75, for a total value of $119,500.00. Following the completion of the sale, the executive vice president now owns 7,056 shares in the company, valued at $421,596. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Paul Isabella sold 40,000 shares of the company’s stock in a transaction dated Monday, November 27th. The stock was sold at an average price of $60.57, for a total value of $2,422,800.00. Following the completion of the sale, the chief executive officer now owns 172,046 shares of the company’s stock, valued at approximately $10,420,826.22. The disclosure for this sale can be found here. Corporate insiders own 0.77% of the company’s stock.

Institutional investors have recently made changes to their positions in the stock. Lord Abbett & CO. LLC boosted its stake in Beacon Roofing Supply by 10.4% during the second quarter. Lord Abbett & CO. LLC now owns 1,873,615 shares of the company’s stock valued at $91,807,000 after buying an additional 176,659 shares during the last quarter. Schwab Charles Investment Management Inc. boosted its stake in Beacon Roofing Supply by 9.6% during the third quarter. Schwab Charles Investment Management Inc. now owns 402,011 shares of the company’s stock valued at $20,604,000 after buying an additional 35,141 shares during the last quarter. Dynamic Technology Lab Private Ltd bought a new position in Beacon Roofing Supply during the second quarter valued at approximately $312,000. Point72 Asset Management L.P. bought a new position in Beacon Roofing Supply during the third quarter valued at approximately $9,688,000. Finally, Skylands Capital LLC boosted its stake in Beacon Roofing Supply by 1,144.0% during the third quarter. Skylands Capital LLC now owns 206,500 shares of the company’s stock valued at $10,583,000 after buying an additional 189,900 shares during the last quarter.

Beacon Roofing Supply (NASDAQ BECN) opened at $55.07 on Monday. The firm has a market capitalization of $3,743.05, a PE ratio of 24.15, a PEG ratio of 1.14 and a beta of 1.35. The company has a debt-to-equity ratio of 0.42, a current ratio of 2.06 and a quick ratio of 1.35. Beacon Roofing Supply has a one year low of $39.57 and a one year high of $66.47.

Beacon Roofing Supply (NASDAQ:BECN) last released its quarterly earnings data on Thursday, February 8th. The company reported $0.68 earnings per share for the quarter, topping analysts’ consensus estimates of $0.54 by $0.14. The firm had revenue of $1.12 billion during the quarter, compared to analyst estimates of $1.10 billion. Beacon Roofing Supply had a return on equity of 10.15% and a net margin of 3.29%. The business’s quarterly revenue was up 12.0% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.56 earnings per share. research analysts forecast that Beacon Roofing Supply will post 3.57 EPS for the current year.

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Beacon Roofing Supply Company Profile

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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