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Beacon Roofing Supply, Inc. (NASDAQ:BECN - Get Rating) saw a large decline in short interest in September. As of September 15th, there was short interest totalling 2,660,000 shares, a decline of 19.1% from the August 31st total of 3,290,000 shares. Based on an average trading volume of 539,700 shares, the days-to-cover ratio is presently 4.9 days. Approximately 5.3% of the company's shares are sold short. Beacon Roofing Supply Price Performance
BECN stock opened at $53.69 on Friday. The business has a 50 day moving average price of $57.09 and a 200 day moving average price of $57.96. The stock has a market cap of $3.49 billion, a price-to-earnings ratio of 11.40 and a beta of 1.79. Beacon Roofing Supply has a fifty-two week low of $45.71 and a fifty-two week high of $65.30. The company has a quick ratio of 1.02, a current ratio of 1.91 and a debt-to-equity ratio of 1.24.
Beacon Roofing Supply (NASDAQ:BECN - Get Rating) last posted its earnings results on Thursday, August 4th. The company reported $2.80 earnings per share for the quarter, topping the consensus estimate of $2.36 by $0.44. The firm had revenue of $2.36 billion during the quarter, compared to analysts' expectations of $2.28 billion. Beacon Roofing Supply had a return on equity of 29.19% and a net margin of 5.25%. The firm's revenue was up 26.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.59 earnings per share. Equities research analysts anticipate that Beacon Roofing Supply will post 6.94 earnings per share for the current fiscal year. Wall Street Analyst Weigh In
A number of brokerages have recently commented on BECN. Stephens lowered their price objective on Beacon Roofing Supply from $72.00 to $64.00 and set an "equal weight" rating for the company in a research report on Monday, August 8th. JPMorgan Chase & Co. lowered their price objective on Beacon Roofing Supply from $66.00 to $59.00 in a research report on Friday, July 15th. Royal Bank of Canada downgraded Beacon Roofing Supply from an "outperform" rating to a "sector perform" rating and lowered their price objective for the stock from $70.00 to $58.00 in a research report on Wednesday, June 22nd. Wells Fargo & Company lowered their price objective on Beacon Roofing Supply from $67.00 to $56.00 and set an "equal weight" rating for the company in a research report on Tuesday, June 28th. Finally, William Blair downgraded Beacon Roofing Supply from an "outperform" rating to a "market perform" rating in a research report on Tuesday, July 19th. Seven equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $62.43.Insider Buying and Selling at Beacon Roofing Supply
In other news, major shareholder Cd&R Investment Associates Ix, bought 103,931 shares of the company's stock in a transaction on Friday, July 29th. The stock was bought at an average cost of $57.73 per share, with a total value of $5,999,936.63. Following the transaction, the insider now directly owns 14,859,579 shares in the company, valued at approximately $857,843,495.67. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other Beacon Roofing Supply news, insider Jason L. Taylor sold 4,000 shares of Beacon Roofing Supply stock in a transaction dated Monday, September 12th. The stock was sold at an average price of $57.30, for a total value of $229,200.00. Following the completion of the transaction, the insider now directly owns 5,937 shares of the company's stock, valued at approximately $340,190.10. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, major shareholder Cd&R Investment Associates Ix, acquired 103,931 shares of the stock in a transaction dated Friday, July 29th. The shares were bought at an average cost of $57.73 per share, with a total value of $5,999,936.63. Following the completion of the transaction, the insider now owns 14,859,579 shares of the company's stock, valued at approximately $857,843,495.67. The disclosure for this purchase can be found here. 0.95% of the stock is currently owned by corporate insiders. Institutional Investors Weigh In On Beacon Roofing Supply
Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Citigroup Inc. lifted its stake in Beacon Roofing Supply by 18.3% in the fourth quarter. Citigroup Inc. now owns 35,158 shares of the company's stock valued at $2,016,000 after buying an additional 5,447 shares during the last quarter. Frontier Capital Management Co. LLC lifted its stake in Beacon Roofing Supply by 0.7% in the first quarter. Frontier Capital Management Co. LLC now owns 1,408,741 shares of the company's stock valued at $83,510,000 after buying an additional 9,922 shares during the last quarter. Barclays PLC lifted its stake in Beacon Roofing Supply by 110.2% in the fourth quarter. Barclays PLC now owns 91,584 shares of the company's stock valued at $5,253,000 after buying an additional 48,008 shares during the last quarter. Blair William & Co. IL lifted its stake in Beacon Roofing Supply by 7.3% in the fourth quarter. Blair William & Co. IL now owns 14,657 shares of the company's stock valued at $841,000 after buying an additional 1,000 shares during the last quarter. Finally, Jackson Creek Investment Advisors LLC lifted its stake in Beacon Roofing Supply by 6.7% in the first quarter. Jackson Creek Investment Advisors LLC now owns 23,155 shares of the company's stock valued at $1,373,000 after buying an additional 1,446 shares during the last quarter. About Beacon Roofing Supply (Get Rating)
Beacon Roofing Supply, Inc, together with its subsidiaries, distributes residential and non-residential roofing materials, and complementary building products to contractors, home builders, building owners, lumberyards, and retailers. It 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.Featured StoriesGet a free copy of the StockNews.com research report on Beacon Roofing Supply (BECN)Humana Proves Vertically Integrated Healthcare Works2 Casino Stocks Worth Taking a Look AtWhat Cintas Can Teach Investors About This Bear Market? This Small-Cap Healthcare Name Is Outperforming Its IndexBlackberry Stock Declines As Results Come In Lukewarm Once Again
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