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

Beacon Roofing Supply, Inc. (NASDAQ:BECN) was the target of a large drop in short interest in January. As of January 31st, there was short interest totalling 1,270,000 shares, a drop of 24.0% from the January 15th total of 1,670,000 shares. Approximately 2.1% of the company’s stock are short sold. Based on an average trading volume of 869,700 shares, the short-interest ratio is currently 1.5 days.

Beacon Roofing Supply Stock Up 0.1 %

Shares of NASDAQ BECN traded up $0.08 on Friday, hitting $119.30. The company had a trading volume of 474,849 shares, compared to its average volume of 1,253,404. Beacon Roofing Supply has a 12-month low of $77.54 and a 12-month high of $121.42. The business has a 50 day moving average of $110.27 and a two-hundred day moving average of $99.37. The company has a quick ratio of 1.14, a current ratio of 1.91 and a debt-to-equity ratio of 1.60. The firm has a market capitalization of $7.38 billion, a P/E ratio of 20.39 and a beta of 1.62.

Insider Transactions at Beacon Roofing Supply

In other Beacon Roofing Supply news, insider Jason L. Taylor sold 2,600 shares of Beacon Roofing Supply stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $110.00, for a total value of $286,000.00. Following the transaction, the insider now directly owns 6,531 shares in the company, valued at approximately $718,410. This trade represents a 28.47 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 1.30% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the business. Quarry LP raised its position in shares of Beacon Roofing Supply by 180.7% during the 3rd quarter. Quarry LP now owns 306 shares of the company’s stock worth $26,000 after purchasing an additional 197 shares during the period. Blue Trust Inc. lifted its holdings in shares of Beacon Roofing Supply by 222.1% in the third quarter. Blue Trust Inc. now owns 306 shares of the company’s stock valued at $28,000 after purchasing an additional 211 shares in the last quarter. Harvest Fund Management Co. Ltd purchased a new stake in shares of Beacon Roofing Supply during the third quarter worth $28,000. SBI Securities Co. Ltd. purchased a new stake in shares of Beacon Roofing Supply during the fourth quarter worth $31,000. Finally, Johnson Financial Group Inc. acquired a new position in Beacon Roofing Supply during the fourth quarter worth $54,000. Institutional investors and hedge funds own 98.45% of the company’s stock.

Analyst Ratings Changes

Several brokerages have weighed in on BECN. Zelman & Associates downgraded Beacon Roofing Supply from a “strong-buy” rating to a “hold” rating in a research note on Thursday, January 16th. StockNews.com assumed coverage on Beacon Roofing Supply in a research note on Thursday. They issued a “sell” rating on the stock. BMO Capital Markets lifted their price objective on Beacon Roofing Supply from $125.00 to $136.00 and gave the stock an “outperform” rating in a report on Thursday, January 16th. JPMorgan Chase & Co. boosted their price target on Beacon Roofing Supply from $119.00 to $136.00 and gave the stock an “overweight” rating in a report on Tuesday, November 19th. Finally, Stephens reissued an “equal weight” rating and issued a $103.00 price target on shares of Beacon Roofing Supply in a report on Tuesday, November 19th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, Beacon Roofing Supply has an average rating of “Hold” and a consensus target price of $120.17.

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.