Beacon Roofing Supply, Inc. (NASDAQ:BECN) Short Interest Down 17.3% in February

Beacon Roofing Supply, Inc. (NASDAQ:BECN - Get Free Report) saw a large decline in short interest in the month of February. As of February 15th, there was short interest totalling 1,050,000 shares, a decline of 17.3% from the January 31st total of 1,270,000 shares. Based on an average daily trading volume, of 791,800 shares, the days-to-cover ratio is presently 1.3 days. Currently, 1.7% of the shares of the company are short sold.

Analysts Set New Price Targets

Several equities research analysts have commented on the stock. Benchmark restated a "buy" rating and set a $140.00 target price on shares of Beacon Roofing Supply in a research report on Monday, March 3rd. Stephens restated an "equal weight" rating and set a $103.00 target price on shares of Beacon Roofing Supply in a research report on Tuesday, November 19th. Stifel Nicolaus lowered shares of Beacon Roofing Supply from a "buy" rating to a "hold" rating and decreased their target price for the stock from $131.00 to $122.55 in a research report on Friday, February 7th. Zelman & Associates lowered shares of Beacon Roofing Supply from a "strong-buy" rating to a "hold" rating in a research report on Thursday, January 16th. Finally, StockNews.com assumed coverage on shares of Beacon Roofing Supply in a research report on Sunday. They set a "sell" rating on the stock. One research analyst has rated the stock with a sell rating, four have given a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $119.95.

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Beacon Roofing Supply Price Performance

Shares of Beacon Roofing Supply stock traded down $0.93 on Friday, hitting $111.10. The company's stock had a trading volume of 531,768 shares, compared to its average volume of 907,506. Beacon Roofing Supply has a 52-week low of $77.54 and a 52-week high of $121.42. The company has a quick ratio of 1.14, a current ratio of 1.91 and a debt-to-equity ratio of 1.60. The firm has a fifty day moving average price of $113.67 and a 200-day moving average price of $102.27. The company has a market capitalization of $6.84 billion, a P/E ratio of 18.99 and a beta of 1.63.

Beacon Roofing Supply (NASDAQ:BECN - Get Free Report) last released its earnings results on Thursday, February 27th. The company reported $1.65 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.66 by ($0.01). The firm had revenue of $2.40 billion during the quarter, compared to analysts' expectations of $2.43 billion. Beacon Roofing Supply had a net margin of 3.86% and a return on equity of 25.32%. On average, equities research analysts expect that Beacon Roofing Supply will post 7.22 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its holdings in Beacon Roofing Supply by 0.4% in the 4th quarter. Vanguard Group Inc. now owns 6,509,495 shares of the company's stock valued at $661,235,000 after purchasing an additional 24,027 shares in the last quarter. FMR LLC increased its stake in shares of Beacon Roofing Supply by 17.6% during the 3rd quarter. FMR LLC now owns 6,435,880 shares of the company's stock valued at $556,253,000 after acquiring an additional 963,633 shares during the last quarter. Boston Partners increased its stake in shares of Beacon Roofing Supply by 1.3% during the 4th quarter. Boston Partners now owns 4,531,106 shares of the company's stock valued at $462,417,000 after acquiring an additional 59,630 shares during the last quarter. Frontier Capital Management Co. LLC increased its stake in shares of Beacon Roofing Supply by 16.0% during the 4th quarter. Frontier Capital Management Co. LLC now owns 2,384,793 shares of the company's stock valued at $242,247,000 after acquiring an additional 329,047 shares during the last quarter. Finally, State Street Corp increased its stake in shares of Beacon Roofing Supply by 1.1% during the 3rd quarter. State Street Corp now owns 1,471,500 shares of the company's stock valued at $127,182,000 after acquiring an additional 15,505 shares during the last quarter. 98.45% of the stock is currently owned by hedge funds and other institutional investors.

About Beacon Roofing Supply

Beacon Roofing Supply, Inc, together with its subsidiaries, engages in the distribution of residential and non-residential roofing materials, and complementary building products to contractors, home builders, building owners, lumberyards, and retailers in the United States and Canada. The company 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.