Beacon Roofing Supply, Inc. (NASDAQ:BECN) saw a large decline in short interest in January. As of January 31st, there was short interest totalling 987,951 shares, a decline of 37.0% from the January 12th total of 1,568,220 shares. Based on an average daily trading volume, of 560,176 shares, the short-interest ratio is currently 1.8 days. Currently, 1.5% of the shares of the stock are short sold.
A number of equities research analysts recently weighed in on the company. Wedbush restated an “outperform” rating and set a $52.00 price objective (down previously from $70.00) on shares of Beacon Roofing Supply in a research report on Tuesday. BidaskClub lowered Beacon Roofing Supply from a “sell” rating to a “strong sell” rating in a research report on Wednesday. Citigroup reduced their price objective on Beacon Roofing Supply from $65.00 to $60.00 and set a “neutral” rating on the stock in a research report on Friday, February 9th. Royal Bank of Canada set a $66.00 price objective on Beacon Roofing Supply and gave the stock a “buy” rating in a research report on Friday, February 9th. Finally, Robert W. Baird restated an “outperform” rating and set a $70.00 price objective (up previously from $55.00) on shares of Beacon Roofing Supply in a research report on Tuesday, November 21st. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and eight have given a buy rating to the stock. Beacon Roofing Supply currently has an average rating of “Buy” and a consensus target price of $60.45.
In related news, EVP Ross D. Cooper sold 2,000 shares of the business’s stock in a transaction on Tuesday, November 21st. The stock was sold at an average price of $59.75, for a total transaction of $119,500.00. Following the sale, the executive vice president now owns 7,056 shares in the company, valued at approximately $421,596. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Paul Isabella sold 40,000 shares of the business’s stock in a transaction on Monday, November 27th. The stock was sold at an average price of $60.57, for a total value of $2,422,800.00. Following the sale, the chief executive officer now owns 172,046 shares in the company, valued at approximately $10,420,826.22. The disclosure for this sale can be found here. 0.77% of the stock is currently owned by insiders.
Beacon Roofing Supply (BECN) traded down $0.29 during midday trading on Wednesday, hitting $54.14. The company’s stock had a trading volume of 987,630 shares, compared to its average volume of 798,307. Beacon Roofing Supply has a 1 year low of $39.57 and a 1 year high of $66.47. The company has a market cap of $3,712.73, a price-to-earnings ratio of 23.87, a PEG ratio of 0.81 and a beta of 1.35. The company has a debt-to-equity ratio of 0.42, a current ratio of 2.06 and a quick ratio of 1.35.
Beacon Roofing Supply (NASDAQ:BECN) last released its quarterly earnings results on Thursday, February 8th. The company reported $0.68 EPS for the quarter, beating analysts’ consensus estimates of $0.54 by $0.14. Beacon Roofing Supply had a return on equity of 10.15% and a net margin of 3.29%. The firm had revenue of $1.12 billion for the quarter, compared to analyst estimates of $1.10 billion. During the same quarter in the previous year, the company posted $0.56 EPS. The business’s revenue was up 12.0% on a year-over-year basis. analysts forecast that Beacon Roofing Supply will post 3.58 earnings per share for the current year.
Beacon Roofing Supply Company Profile
Beacon Roofing Supply, Inc is engaged in the distribution of residential and non-residential roofing materials in the United States and Canada. It also distributes complementary building products for residential and non-residential building exteriors. Its product portfolio includes residential roofing products, non-residential roofing products and complementary building products.
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