Beacon Roofing Supply, Inc. (NASDAQ:BECN) Short Interest Down 24.0% in January

Beacon Roofing Supply, Inc. (NASDAQ:BECN - Get Free Report) was the target of a large decrease in short interest during the month of January. As of January 31st, there was short interest totalling 1,270,000 shares, a decrease of 24.0% from the January 15th total of 1,670,000 shares. Based on an average trading volume of 869,700 shares, the days-to-cover ratio is presently 1.5 days. Approximately 2.1% of the shares of the stock are sold short.

Institutional Investors Weigh In On Beacon Roofing Supply

Several institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. increased its stake 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 worth $661,235,000 after purchasing an additional 24,027 shares during the period. FMR LLC grew its holdings in shares of Beacon Roofing Supply by 17.6% in the third quarter. FMR LLC now owns 6,435,880 shares of the company's stock worth $556,253,000 after purchasing an additional 963,633 shares during the last quarter. Boston Partners increased its stake in shares of Beacon Roofing Supply by 1.3% in the fourth quarter. Boston Partners now owns 4,531,106 shares of the company's stock worth $462,417,000 after buying an additional 59,630 shares during the period. Frontier Capital Management Co. LLC raised its holdings in 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 buying an additional 329,047 shares during the last quarter. Finally, State Street Corp boosted its position in 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 buying an additional 15,505 shares during the period. 98.45% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts have recently issued reports on BECN shares. JPMorgan Chase & Co. lifted their price target on Beacon Roofing Supply from $119.00 to $136.00 and gave the company an "overweight" rating 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 dropped their target price for the company from $131.00 to $122.55 in a research report on Friday, February 7th. BMO Capital Markets raised their price objective on shares of Beacon Roofing Supply from $125.00 to $136.00 and gave the company an "outperform" rating in a research report on Thursday, January 16th. Stephens reaffirmed an "equal weight" rating and set a $103.00 price objective on shares of Beacon Roofing Supply in a report on Tuesday, November 19th. Finally, Royal Bank of Canada increased their target price on Beacon Roofing Supply from $113.00 to $114.00 and gave the company an "outperform" rating in a research note on Friday, November 1st. One analyst has rated the stock with a sell rating, four have issued a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, Beacon Roofing Supply presently has a consensus rating of "Hold" and an average price target of $120.17.

Beacon Roofing Supply Trading Down 0.4 %

NASDAQ BECN traded down $0.51 during trading on Tuesday, hitting $118.79. 722,168 shares of the company's stock traded hands, compared to its average volume of 1,028,541. The stock has a fifty day moving average of $110.46 and a two-hundred day moving average of $99.49. Beacon Roofing Supply has a 12-month low of $77.54 and a 12-month high of $121.42. The firm has a market cap of $7.35 billion, a P/E ratio of 20.31 and a beta of 1.62. The company has a debt-to-equity ratio of 1.60, a current ratio of 1.91 and a quick ratio of 1.14.

Beacon Roofing Supply Company Profile

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.