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

Beacon Roofing Supply, Inc. (NASDAQ:BECN) was the recipient of a significant decrease in short interest in February. As of February 15th, there was short interest totalling 1,050,000 shares, a decrease of 17.3% from the January 31st total of 1,270,000 shares. Currently, 1.7% of the shares of the stock are short sold. Based on an average daily trading volume, of 791,800 shares, the short-interest ratio is currently 1.3 days.

Beacon Roofing Supply Stock Up 2.1 %

NASDAQ:BECN opened at $113.88 on Thursday. The firm’s 50 day simple moving average is $113.00 and its 200 day simple moving average is $101.95. The company has a debt-to-equity ratio of 1.60, a current ratio of 1.91 and a quick ratio of 1.14. Beacon Roofing Supply has a one year low of $77.54 and a one year high of $121.42. The company has a market cap of $7.01 billion, a PE ratio of 19.47 and a beta of 1.63.

Beacon Roofing Supply (NASDAQ:BECN) last posted its earnings results on Thursday, February 27th. The company reported $1.65 EPS for the quarter, missing the consensus estimate of $1.66 by ($0.01). Beacon Roofing Supply had a return on equity of 25.32% and a net margin of 3.86%. The business had revenue of $2.40 billion for the quarter, compared to analyst estimates of $2.43 billion. On average, research analysts anticipate that Beacon Roofing Supply will post 7.22 earnings per share for the current year.

Analysts Set New Price Targets

BECN has been the topic of a number of analyst reports. Robert W. Baird increased their price objective on shares of Beacon Roofing Supply from $120.00 to $124.00 and gave the stock an “outperform” rating in a research note on Friday, February 28th. Benchmark reiterated a “buy” rating and set a $140.00 price objective on shares of Beacon Roofing Supply in a research note on Monday. Stifel Nicolaus downgraded shares of Beacon Roofing Supply from a “buy” rating to a “hold” rating and reduced their price target for the company from $131.00 to $122.55 in a research note on Friday, February 7th. Zelman & Associates downgraded shares of Beacon Roofing Supply from a “strong-buy” rating to a “hold” rating in a research note on Thursday, January 16th. Finally, BMO Capital Markets reduced their price target on shares of Beacon Roofing Supply from $136.00 to $130.00 and set an “outperform” rating on the stock in a research note on Tuesday. One analyst has rated the stock with a sell rating, four have assigned a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, Beacon Roofing Supply presently has an average rating of “Hold” and an average price target of $119.95.

Institutional Investors Weigh In On Beacon Roofing Supply

Several hedge funds have recently added to or reduced their stakes in the business. US Bancorp DE raised its holdings in Beacon Roofing Supply by 2.3% during the 3rd quarter. US Bancorp DE now owns 5,255 shares of the company’s stock worth $454,000 after purchasing an additional 116 shares during the last quarter. Equitable Trust Co. raised its holdings in Beacon Roofing Supply by 1.7% during the 4th quarter. Equitable Trust Co. now owns 7,228 shares of the company’s stock worth $734,000 after purchasing an additional 122 shares during the last quarter. Nomura Asset Management Co. Ltd. raised its holdings in Beacon Roofing Supply by 26.3% during the 4th quarter. Nomura Asset Management Co. Ltd. now owns 720 shares of the company’s stock worth $73,000 after purchasing an additional 150 shares during the last quarter. PNC Financial Services Group Inc. raised its holdings in Beacon Roofing Supply by 38.1% during the 4th quarter. PNC Financial Services Group Inc. now owns 591 shares of the company’s stock worth $60,000 after purchasing an additional 163 shares during the last quarter. Finally, Cornerstone Investment Partners LLC raised its holdings in Beacon Roofing Supply by 3.6% during the 4th quarter. Cornerstone Investment Partners LLC now owns 4,730 shares of the company’s stock worth $480,000 after purchasing an additional 166 shares during the last quarter. 98.45% of the stock is currently owned by institutional investors and hedge funds.

Beacon Roofing Supply Company Profile

Beacon Roofing Supply, Inc, together with its subsidiaries, engages in the distribution of residential and non-residential roofing materials, and complementary building products to contractors, home builders, building owners, lumberyards, and retailers in the United States and Canada. The company offers pitched roofing and low slope roof products; gutters and sidings; building materials, such as lumber and composite, skylights and window, plywood and OSB, decking and railing, and HVAC products; and foam board, spray foam, roll, batt, mineral wool, fiberglass, and commercial insulation products, as well as radiant barriers and blown-in insulation and equipment.