Beacon Roofing Supply, Inc. (NASDAQ:BECN) Short Interest Up 7.7% in December

Beacon Roofing Supply, Inc. (NASDAQ:BECN) was the recipient of a significant growth in short interest in the month of December. As of December 31st, there was short interest totalling 3,920,000 shares, a growth of 7.7% from the December 15th total of 3,640,000 shares. Approximately 7.2% of the company’s shares are sold short. Based on an average daily volume of 545,300 shares, the days-to-cover ratio is currently 7.2 days.

Shares of Beacon Roofing Supply stock traded up $0.73 during trading on Thursday, reaching $36.21. The company’s stock had a trading volume of 123,401 shares, compared to its average volume of 381,958. The company has a 50-day moving average price of $31.34 and a two-hundred day moving average price of $32.86. The firm has a market cap of $2.39 billion, a PE ratio of 16.02, a P/E/G ratio of 1.31 and a beta of 1.39. Beacon Roofing Supply has a fifty-two week low of $26.50 and a fifty-two week high of $40.00. The company has a current ratio of 1.75, a quick ratio of 1.04 and a debt-to-equity ratio of 1.39.

Beacon Roofing Supply (NASDAQ:BECN) last announced its earnings results on Monday, November 25th. The company reported $1.04 EPS for the quarter, missing analysts’ consensus estimates of $1.21 by ($0.17). The business had revenue of $2.03 billion during the quarter, compared to analyst estimates of $2.05 billion. Beacon Roofing Supply had a negative net margin of 0.15% and a positive return on equity of 9.55%. The business’s revenue was up 4.9% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.07 earnings per share. On average, analysts predict that Beacon Roofing Supply will post 2.59 earnings per share for the current fiscal year.

Several research analysts have weighed in on BECN shares. SunTrust Banks lowered their target price on shares of Beacon Roofing Supply from $40.00 to $38.00 and set a “buy” rating for the company in a research note on Tuesday, November 26th. Wedbush reaffirmed a “neutral” rating and issued a $29.00 target price (down previously from $33.00) on shares of Beacon Roofing Supply in a report on Tuesday, November 26th. Loop Capital started coverage on shares of Beacon Roofing Supply in a report on Monday, January 6th. They issued a “buy” rating and a $37.00 target price on the stock. ValuEngine raised shares of Beacon Roofing Supply from a “strong sell” rating to a “sell” rating in a report on Thursday, November 21st. Finally, Zacks Investment Research raised shares of Beacon Roofing Supply from a “sell” rating to a “hold” rating and set a $28.00 target price on the stock in a report on Wednesday, November 27th. Two research analysts have rated the stock with a sell rating, ten have issued a hold rating and five have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus target price of $34.50.

In related news, Director Richard W. Frost bought 3,000 shares of the stock in a transaction on Wednesday, November 27th. The stock was bought at an average price of $30.05 per share, with a total value of $90,150.00. Following the completion of the purchase, the director now directly owns 37,249 shares in the company, valued at approximately $1,119,332.45. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Stuart A. Randle sold 5,802 shares of the stock in a transaction dated Wednesday, December 11th. The stock was sold at an average price of $30.06, for a total transaction of $174,408.12. Following the transaction, the director now directly owns 35,519 shares of the company’s stock, valued at approximately $1,067,701.14. The disclosure for this sale can be found here. Corporate insiders own 1.40% of the company’s stock.

Several institutional investors have recently made changes to their positions in BECN. Clayton Dubilier & Rice LLC boosted its position in shares of Beacon Roofing Supply by 78.1% during the 2nd quarter. Clayton Dubilier & Rice LLC now owns 10,550,161 shares of the company’s stock worth $393,574,000 after purchasing an additional 4,625,998 shares in the last quarter. BlackRock Inc. grew its holdings in shares of Beacon Roofing Supply by 1.5% during the 2nd quarter. BlackRock Inc. now owns 4,852,652 shares of the company’s stock worth $178,191,000 after purchasing an additional 70,828 shares during the period. Price T Rowe Associates Inc. MD grew its holdings in shares of Beacon Roofing Supply by 14.7% during the 2nd quarter. Price T Rowe Associates Inc. MD now owns 1,794,506 shares of the company’s stock worth $65,894,000 after purchasing an additional 229,434 shares during the period. State Street Corp grew its holdings in shares of Beacon Roofing Supply by 0.5% during the 3rd quarter. State Street Corp now owns 1,400,717 shares of the company’s stock worth $46,966,000 after purchasing an additional 6,754 shares during the period. Finally, Northern Trust Corp grew its holdings in shares of Beacon Roofing Supply by 4.1% during the 2nd quarter. Northern Trust Corp now owns 1,289,946 shares of the company’s stock worth $47,367,000 after purchasing an additional 50,282 shares during the period.

Beacon Roofing Supply Company Profile

Beacon Roofing Supply, Inc, together with its subsidiaries, distributes residential and commercial roofing materials, and other complementary building materials to contractors, home builders, retailers, and building materials suppliers. The company's residential roofing products include asphalt shingles, synthetic slates and tiles, clay and concrete tiles, slates, nail base insulations, metal roofing, felts, synthetic underlayment, wood shingles and shakes, nails and fasteners, metal edgings and flashings, prefabricated flashings, ridges and soffit vents, and solar systems.

Further Reading: Price to Earnings Ratio (PE) Basics

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