Stock Traders Purchase High Volume of Call Options on Beacon Roofing Supply (BECN)
Beacon Roofing Supply, Inc. (NASDAQ:BECN) was the recipient of some unusual options trading on Tuesday. Stock traders bought 1,326 call options on the company. This represents an increase of 2,039% compared to the typical daily volume of 62 call options.
A number of research firms recently commented on BECN. SunTrust Banks, Inc. reiterated a “buy” rating and issued a $55.00 price objective on shares of Beacon Roofing Supply in a report on Monday, October 2nd. Jefferies Group LLC upgraded Beacon Roofing Supply from a “hold” rating to a “buy” rating and upped their price target for the stock from $50.00 to $54.00 in a research note on Friday, August 25th. KeyCorp upgraded Beacon Roofing Supply from a “sector weight” rating to an “overweight” rating and set a $52.00 price target on the stock in a research note on Friday, August 25th. Royal Bank Of Canada restated an “outperform” rating and set a $63.00 price target (up from $62.00) on shares of Beacon Roofing Supply in a research note on Tuesday. Finally, Citigroup Inc. upped their price target on Beacon Roofing Supply from $48.00 to $51.00 and gave the stock a “neutral” rating in a research note on Monday, August 28th. One investment analyst has rated the stock with a sell rating, four have given a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. The company currently has an average rating of “Buy” and a consensus price target of $56.58.
Hedge funds have recently modified their holdings of the business. SG Americas Securities LLC acquired a new stake in shares of Beacon Roofing Supply during the second quarter worth about $100,000. Advisors Asset Management Inc. boosted its stake in shares of Beacon Roofing Supply by 36.7% during the second quarter. Advisors Asset Management Inc. now owns 2,105 shares of the company’s stock worth $103,000 after buying an additional 565 shares during the period. Zions Bancorporation acquired a new stake in shares of Beacon Roofing Supply during the third quarter worth about $124,000. Huntington National Bank boosted its stake in shares of Beacon Roofing Supply by 3.8% during the second quarter. Huntington National Bank now owns 3,138 shares of the company’s stock worth $154,000 after buying an additional 116 shares during the period. Finally, Lloyds Banking Group plc boosted its stake in shares of Beacon Roofing Supply by 37.7% during the second quarter. Lloyds Banking Group plc now owns 3,694 shares of the company’s stock worth $180,000 after buying an additional 1,012 shares during the period. 97.28% of the stock is currently owned by institutional investors.
Beacon Roofing Supply (NASDAQ:BECN) opened at $59.36 on Friday. The company has a market capitalization of $3,994.98, a price-to-earnings ratio of 27.18, a P/E/G ratio of 2.66 and a beta of 1.45. The company has a quick ratio of 1.36, a current ratio of 2.30 and a debt-to-equity ratio of 0.86. Beacon Roofing Supply has a twelve month low of $39.57 and a twelve month high of $60.61.
Beacon Roofing Supply (NASDAQ:BECN) last posted its earnings results on Monday, November 20th. The company reported $0.93 EPS for the quarter, missing the consensus estimate of $0.94 by ($0.01). The business had revenue of $1.29 billion during the quarter, compared to analysts’ expectations of $1.26 billion. Beacon Roofing Supply had a net margin of 2.30% and a return on equity of 9.78%. The business’s quarterly revenue was up 9.8% compared to the same quarter last year. During the same period last year, the company earned $0.88 EPS. equities analysts expect that Beacon Roofing Supply will post 2.61 EPS for the current fiscal year.
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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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