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

Beacon Roofing Supply, Inc. (NASDAQ:BECN) was the target of a large 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 daily trading volume, of 669,300 shares, the days-to-cover ratio is presently 2.1 days. Approximately 2.3% of the company’s stock are sold short.

Beacon Roofing Supply Price Performance

Shares of BECN traded up $1.32 on Friday, reaching $115.92. The stock had a trading volume of 1,159,010 shares, compared to its average volume of 456,673. Beacon Roofing Supply has a twelve month low of $77.54 and a twelve month high of $121.22. The firm has a market capitalization of $7.17 billion, a PE ratio of 19.82 and a beta of 1.61. The firm has a 50-day moving average of $106.65 and a 200 day moving average of $96.12. The company has a quick ratio of 1.14, a current ratio of 1.91 and a debt-to-equity ratio of 1.60.

Insider Transactions at Beacon Roofing Supply

In related news, insider Jason L. Taylor sold 2,600 shares of the firm’s stock in a transaction that occurred on Monday, November 18th. The stock was 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. This trade represents a 28.47 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Clement Munroe Best III sold 5,637 shares of the firm’s stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $100.47, for a total transaction of $566,349.39. Following the transaction, the insider now owns 69,514 shares in the company, valued at approximately $6,984,071.58. This trade represents a 7.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 15,274 shares of company stock worth $1,578,146. 1.30% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. DekaBank Deutsche Girozentrale acquired a new position in shares of Beacon Roofing Supply in the second quarter worth $5,075,000. Vanguard Personalized Indexing Management LLC boosted its stake in shares of Beacon Roofing Supply by 2.7% during the 2nd 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 holdings in shares of Beacon Roofing Supply by 197.2% during the second quarter. Blair William & Co. IL now owns 19,544 shares of the company’s stock worth $1,769,000 after buying an additional 12,969 shares in the last quarter. Canada Pension Plan Investment Board raised its position in shares of Beacon Roofing Supply by 3.2% in the second quarter. Canada Pension Plan Investment Board now owns 100,800 shares of the company’s stock valued at $9,122,000 after buying an additional 3,100 shares during the last quarter. Finally, Bank of Montreal Can lifted its stake in shares of Beacon Roofing Supply by 50.2% during the second quarter. Bank of Montreal Can now owns 9,928 shares of the company’s stock valued at $926,000 after buying an additional 3,320 shares during the period. 98.45% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the stock. Stifel Nicolaus increased their target price on shares of Beacon Roofing Supply from $115.00 to $131.00 and gave the stock a “buy” rating in a research note on Friday. StockNews.com downgraded Beacon Roofing Supply from a “hold” rating to a “sell” rating in a research note on Thursday. Stephens restated an “equal weight” rating and set a $103.00 price target on shares of Beacon Roofing Supply in a research note on Tuesday, November 19th. Royal Bank of Canada increased their price target on Beacon Roofing Supply from $113.00 to $114.00 and gave the stock an “outperform” rating in a report on Friday, November 1st. Finally, BMO Capital Markets boosted 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 note on Thursday. One research analyst has rated the stock with a sell rating, three have given a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $121.11.

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.