Beacon Roofing Supply Target of Unusually Large Options Trading (NASDAQ:BECN)

Beacon Roofing Supply, Inc. (NASDAQ:BECN - Get Free Report) was the recipient of unusually large options trading activity on Tuesday. Investors acquired 2,221 call options on the stock. This is an increase of 228% compared to the average volume of 677 call options.

Analysts Set New Price Targets

Several research analysts have commented on BECN shares. BMO Capital Markets lowered their price target on shares of Beacon Roofing Supply from $136.00 to $130.00 and set an "outperform" rating for the company in a report on Tuesday, March 4th. Loop Capital restated a "hold" rating and issued a $124.00 target price on shares of Beacon Roofing Supply in a report on Friday. Benchmark restated a "buy" rating and issued a $140.00 target price on shares of Beacon Roofing Supply in a report on Monday, March 3rd. Baird R W cut shares of Beacon Roofing Supply from a "strong-buy" rating to a "hold" rating in a report on Thursday. Finally, Robert W. Baird upped their target price on shares of Beacon Roofing Supply from $120.00 to $124.00 and gave the company an "outperform" rating in a report on Friday, February 28th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $120.95.

Institutional Trading of Beacon Roofing Supply

Several hedge funds and other institutional investors have recently made changes to their positions in the company. SBI Securities Co. Ltd. acquired a new stake in Beacon Roofing Supply in the fourth quarter valued at about $31,000. Quarry LP boosted its holdings in Beacon Roofing Supply by 180.7% in the 3rd quarter. Quarry LP now owns 306 shares of the company's stock valued at $26,000 after purchasing an additional 197 shares in the last quarter. Harvest Fund Management Co. Ltd purchased a new stake in Beacon Roofing Supply in the 3rd quarter valued at approximately $28,000. Johnson Financial Group Inc. purchased a new stake in Beacon Roofing Supply in the 4th quarter valued at approximately $54,000. Finally, PNC Financial Services Group Inc. boosted its holdings in Beacon Roofing Supply by 38.1% in the 4th quarter. PNC Financial Services Group Inc. now owns 591 shares of the company's stock valued at $60,000 after purchasing an additional 163 shares in the last quarter. Hedge funds and other institutional investors own 98.45% of the company's stock.

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Beacon Roofing Supply Stock Performance

BECN stock traded down $0.06 on Friday, hitting $123.77. The company's stock had a trading volume of 11,309,325 shares, compared to its average volume of 875,254. The firm has a 50 day moving average of $117.35 and a two-hundred day moving average of $104.59. Beacon Roofing Supply has a 1 year low of $77.54 and a 1 year high of $123.90. The stock has a market cap of $7.62 billion, a price-to-earnings ratio of 21.16 and a beta of 1.63. The company has a current ratio of 1.91, a quick ratio of 1.14 and a debt-to-equity ratio of 1.60.

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

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.