Beacon Roofing Supply, Inc. (NASDAQ:BECN) was the target of a large decrease in short interest in January. As of January 31st, there was short interest totalling 987,951 shares, a decrease 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. Approximately 1.5% of the shares of the company are sold short.

In other news, CEO Paul Isabella sold 40,000 shares of the stock in a transaction that occurred on Monday, November 27th. The stock was sold at an average price of $60.57, for a total transaction of $2,422,800.00. Following the completion of the transaction, the chief executive officer now directly owns 172,046 shares of the company’s stock, valued at approximately $10,420,826.22. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP Ross D. Cooper sold 2,000 shares of the stock in a transaction that occurred on Tuesday, November 21st. The stock was sold at an average price of $59.75, for a total value of $119,500.00. Following the transaction, the executive vice president now directly owns 7,056 shares of the company’s stock, valued at $421,596. The disclosure for this sale can be found here. Corporate insiders own 0.77% of the company’s stock.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. 1st Global Advisors Inc. grew its holdings in shares of Beacon Roofing Supply by 0.8% in the 2nd quarter. 1st Global Advisors Inc. now owns 9,836 shares of the company’s stock worth $482,000 after acquiring an additional 76 shares during the period. Advisor Group Inc. grew its holdings in shares of Beacon Roofing Supply by 8.9% in the 2nd quarter. Advisor Group Inc. now owns 3,877 shares of the company’s stock worth $190,000 after acquiring an additional 316 shares during the period. UBS Asset Management Americas Inc. grew its holdings in shares of Beacon Roofing Supply by 1.4% in the 2nd quarter. UBS Asset Management Americas Inc. now owns 29,235 shares of the company’s stock worth $1,433,000 after acquiring an additional 395 shares during the period. The Manufacturers Life Insurance Company grew its holdings in shares of Beacon Roofing Supply by 1.1% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 46,427 shares of the company’s stock worth $2,275,000 after acquiring an additional 517 shares during the period. Finally, M&T Bank Corp grew its holdings in shares of Beacon Roofing Supply by 13.1% in the 2nd quarter. M&T Bank Corp now owns 4,608 shares of the company’s stock worth $226,000 after acquiring an additional 534 shares during the period. Institutional investors and hedge funds own 99.69% of the company’s stock.

Beacon Roofing Supply (NASDAQ BECN) traded down $0.29 on Wednesday, hitting $54.14. The company had a trading volume of 987,630 shares, compared to its average volume of 798,307. The firm has a market cap of $3,712.73, a PE ratio of 23.87, a P/E/G ratio of 0.81 and a beta of 1.35. The company has a current ratio of 2.06, a quick ratio of 1.35 and a debt-to-equity ratio of 0.42. Beacon Roofing Supply has a 1-year low of $39.57 and a 1-year high of $66.47.

Beacon Roofing Supply (NASDAQ:BECN) last released its quarterly earnings results on Thursday, February 8th. The company reported $0.68 earnings per share for the quarter, topping analysts’ consensus estimates of $0.54 by $0.14. The business had revenue of $1.12 billion for the quarter, compared to analysts’ expectations of $1.10 billion. Beacon Roofing Supply had a return on equity of 10.15% and a net margin of 3.29%. The company’s revenue was up 12.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.56 EPS. equities analysts expect that Beacon Roofing Supply will post 3.58 earnings per share for the current fiscal year.

A number of brokerages have recently issued reports on BECN. BidaskClub downgraded Beacon Roofing Supply from a “buy” rating to a “hold” rating in a research note on Tuesday, January 9th. Jefferies Group reissued a “buy” rating and set a $73.00 target price on shares of Beacon Roofing Supply in a research note on Wednesday, January 17th. Zacks Investment Research downgraded Beacon Roofing Supply from a “strong-buy” rating to a “hold” rating in a research note on Monday, January 22nd. Royal Bank of Canada set a $66.00 target price on Beacon Roofing Supply and gave the stock a “buy” rating in a research note on Friday, February 9th. Finally, Robert W. Baird reissued an “outperform” rating and set a $70.00 target price (up from $55.00) on shares of Beacon Roofing Supply in a research note on Tuesday, November 21st. One research analyst has rated the stock with a sell rating, three have given a hold rating and eight have assigned a buy rating to the company’s stock. Beacon Roofing Supply presently has an average rating of “Buy” and an average price target of $60.45.

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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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