Beacon Roofing Supply (NASDAQ:BECN) Sees Unusually-High Trading Volume - What's Next?

Shares of Beacon Roofing Supply, Inc. (NASDAQ:BECN - Get Free Report) saw unusually-high trading volume on Tuesday . Approximately 920,582 shares traded hands during trading, a decline of 5% from the previous session's volume of 972,920 shares.The stock last traded at $123.74 and had previously closed at $123.70.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the company. Robert W. Baird lifted their target price on Beacon Roofing Supply from $120.00 to $124.00 and gave the company an "outperform" rating in a research note on Friday, February 28th. Baird R W cut shares of Beacon Roofing Supply from a "strong-buy" rating to a "hold" rating in a report on Thursday, March 20th. StockNews.com began coverage on shares of Beacon Roofing Supply in a research note on Wednesday. They set a "sell" rating for the company. Royal Bank of Canada downgraded Beacon Roofing Supply from an "outperform" rating to a "sector perform" rating and boosted their price objective for the stock from $124.00 to $124.35 in a research report on Wednesday. Finally, Stifel Nicolaus cut Beacon Roofing Supply from a "buy" rating to a "hold" rating and lowered their target price for the company from $131.00 to $122.55 in a research report on Friday, February 7th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and four have given a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $122.10.

Beacon Roofing Supply Price Performance

The company has a 50 day moving average of $119.17 and a two-hundred day moving average of $107.31. The firm has a market cap of $7.56 billion, a P/E ratio of 20.93 and a beta of 1.31. The company has a quick ratio of 1.14, a current ratio of 1.91 and a debt-to-equity ratio of 1.60.

Beacon Roofing Supply (NASDAQ:BECN - Get Free Report) last released its quarterly earnings data on Thursday, February 27th. The company reported $1.65 earnings per share for the quarter, missing the consensus estimate of $1.66 by ($0.01). Beacon Roofing Supply had a return on equity of 25.32% and a net margin of 3.86%. The company had revenue of $2.40 billion for the quarter, compared to the consensus estimate of $2.43 billion. Sell-side analysts expect that Beacon Roofing Supply, Inc. will post 7.22 EPS for the current year.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the business. Charles Schwab Investment Management Inc. grew its stake in Beacon Roofing Supply by 1.9% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 615,174 shares of the company's stock valued at $62,489,000 after acquiring an additional 11,426 shares in the last quarter. Raymond James Financial Inc. acquired a new stake in shares of Beacon Roofing Supply during the 4th quarter valued at $24,162,000. Barclays PLC increased its stake in shares of Beacon Roofing Supply by 272.0% in the third quarter. Barclays PLC now owns 122,024 shares of the company's stock worth $10,547,000 after acquiring an additional 89,222 shares during the last quarter. Fisher Asset Management LLC boosted its position in Beacon Roofing Supply by 2.1% during the fourth quarter. Fisher Asset Management LLC now owns 1,014,087 shares of the company's stock valued at $103,011,000 after purchasing an additional 20,372 shares during the last quarter. Finally, Boston Partners grew its stake in Beacon Roofing Supply by 1.3% in the fourth quarter. Boston Partners now owns 4,531,106 shares of the company's stock valued at $462,417,000 after purchasing an additional 59,630 shares in the last quarter. 98.45% of the stock is owned by institutional investors and hedge funds.

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.