Beacon Roofing Supply, Inc. (NASDAQ:BECN) Short Interest Up 24.8% in December

Beacon Roofing Supply, Inc. (NASDAQ:BECN) was the target of a significant growth in short interest during the month of December. As of December 31st, there was short interest totalling 1,410,000 shares, a growth of 24.8% from the December 15th total of 1,130,000 shares. Based on an average trading volume of 669,300 shares, the days-to-cover ratio is presently 2.1 days. Approximately 2.3% of the company’s shares are short sold.

Beacon Roofing Supply Stock Down 2.2 %

Shares of NASDAQ BECN traded down $2.58 during trading on Thursday, hitting $114.60. The stock had a trading volume of 2,016,000 shares, compared to its average volume of 1,220,620. The firm has a fifty day moving average of $106.40 and a two-hundred day moving average of $95.92. The company has a market capitalization of $7.09 billion, a PE ratio of 19.59 and a beta of 1.61. 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 has a 12 month low of $77.54 and a 12 month high of $121.22.

Insider Buying and Selling at Beacon Roofing Supply

In related news, insider Jason L. Taylor sold 2,600 shares of the business’s stock in a transaction on Monday, November 18th. The shares were sold at an average price of $110.00, for a total transaction of $286,000.00. Following the transaction, the insider now owns 6,531 shares in the company, valued at $718,410. The trade was a 28.47 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Clement Munroe Best III sold 7,037 shares of the stock in a transaction on Friday, November 8th. The stock was sold at an average price of $103.14, for a total transaction of $725,796.18. Following the transaction, the insider now directly owns 69,449 shares in the company, valued at approximately $7,162,969.86. This represents a 9.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 15,274 shares of company stock valued at $1,578,146. 1.30% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Beacon Roofing Supply

Institutional investors have recently added to or reduced their stakes in the company. DekaBank Deutsche Girozentrale purchased a new position in shares of Beacon Roofing Supply in the 2nd quarter worth approximately $5,075,000. Vanguard Personalized Indexing Management LLC boosted its position in Beacon Roofing Supply by 2.7% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 5,538 shares of the company’s stock worth $501,000 after purchasing an additional 147 shares during the last quarter. Blair William & Co. IL grew its stake in Beacon Roofing Supply by 197.2% in the 2nd quarter. Blair William & Co. IL now owns 19,544 shares of the company’s stock valued at $1,769,000 after purchasing an additional 12,969 shares during the period. Canada Pension Plan Investment Board increased its position in shares of Beacon Roofing Supply by 3.2% during the 2nd quarter. Canada Pension Plan Investment Board now owns 100,800 shares of the company’s stock valued at $9,122,000 after purchasing an additional 3,100 shares during the last quarter. Finally, Bank of Montreal Can raised its stake in shares of Beacon Roofing Supply by 50.2% during the 2nd quarter. Bank of Montreal Can now owns 9,928 shares of the company’s stock worth $926,000 after purchasing an additional 3,320 shares during the period. 98.45% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts have recently commented on the company. Benchmark restated a “buy” rating and issued a $140.00 target price on shares of Beacon Roofing Supply in a research note on Friday, November 1st. Robert W. Baird upped their target price on Beacon Roofing Supply from $115.00 to $120.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 16th. StockNews.com lowered shares of Beacon Roofing Supply from a “hold” rating to a “sell” rating in a research note on Thursday. JPMorgan Chase & Co. raised their price objective on shares of Beacon Roofing Supply from $119.00 to $136.00 and gave the company an “overweight” rating in a research note on Tuesday, November 19th. Finally, BMO Capital Markets boosted their target price on shares of Beacon Roofing Supply from $125.00 to $136.00 and gave the stock an “outperform” rating in a research report on Thursday. One analyst has rated the stock with a sell rating, two have assigned a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $119.33.

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.