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

Beacon Roofing Supply, Inc. (NASDAQ:BECN) was the recipient of a significant decline in short interest during the month of February. As of February 28th, there was short interest totalling 768,100 shares, a decline of 26.8% from the February 13th total of 1,050,000 shares. Based on an average trading volume of 870,900 shares, the days-to-cover ratio is currently 0.9 days. Currently, 1.3% of the shares of the company are short sold.

Analyst Upgrades and Downgrades

BECN has been the topic of a number of recent research reports. Zelman & Associates cut shares of Beacon Roofing Supply from a “strong-buy” rating to a “hold” rating in a research note on Thursday, January 16th. JPMorgan Chase & Co. upped their price target on shares of Beacon Roofing Supply from $119.00 to $136.00 and gave the company an “overweight” rating in a research note on Tuesday, November 19th. Robert W. Baird upped their price target on shares of Beacon Roofing Supply from $120.00 to $124.00 and gave the company an “outperform” rating in a research note on Friday, February 28th. StockNews.com initiated coverage on shares of Beacon Roofing Supply in a research note on Monday. They set a “sell” rating on the stock. Finally, Stephens restated an “equal weight” rating and set a $103.00 price target on shares of Beacon Roofing Supply in a research note on Tuesday, November 19th. One research analyst has rated the stock with a sell rating, four have given a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, Beacon Roofing Supply has an average rating of “Hold” and an average target price of $119.95.

Beacon Roofing Supply Price Performance

Shares of NASDAQ:BECN opened at $119.90 on Tuesday. The company’s fifty day moving average price is $115.41 and its 200-day moving average price is $103.53. The firm has a market capitalization of $7.38 billion, a price-to-earnings ratio of 20.50 and a beta of 1.63. Beacon Roofing Supply has a one year low of $77.54 and a one year high of $122.97. 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 (NASDAQ:BECN) last issued its quarterly earnings results on Thursday, February 27th. The company reported $1.65 EPS for the quarter, missing analysts’ consensus estimates of $1.66 by ($0.01). The company had revenue of $2.40 billion during the quarter, compared to the consensus estimate of $2.43 billion. Beacon Roofing Supply had a return on equity of 25.32% and a net margin of 3.86%. On average, equities research analysts anticipate that Beacon Roofing Supply will post 7.22 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Beacon Roofing Supply

A number of institutional investors have recently made changes to their positions in the business. Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in shares of Beacon Roofing Supply in the 4th quarter valued at $3,184,000. Polar Asset Management Partners Inc. purchased a new stake in Beacon Roofing Supply during the 4th quarter valued at $4,510,000. Forum Financial Management LP purchased a new stake in shares of Beacon Roofing Supply in the 4th quarter worth about $224,000. Amiral Gestion purchased a new stake in shares of Beacon Roofing Supply in the 4th quarter worth about $1,478,000. Finally, Public Employees Retirement System of Ohio purchased a new stake in shares of Beacon Roofing Supply in the 4th quarter worth about $9,873,000. Hedge funds and other institutional investors own 98.45% of the company’s stock.

About Beacon Roofing Supply

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.