Beacon Roofing Supply (NASDAQ:BECN) Sees Unusually-High Trading Volume – Here’s Why

Beacon Roofing Supply, Inc. (NASDAQ:BECN) shares saw unusually-strong 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.

Analyst Ratings Changes

Several research firms have commented on BECN. 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. William Blair reiterated a “market perform” rating on shares of Beacon Roofing Supply in a research note on Thursday, March 20th. Benchmark reaffirmed a “buy” rating and set a $140.00 price target on shares of Beacon Roofing Supply in a report on Monday, March 3rd. Loop Capital restated a “hold” rating and set a $124.00 target price on shares of Beacon Roofing Supply in a research note on Friday, March 21st. Finally, Raymond James cut shares of Beacon Roofing Supply from a “moderate buy” rating to a “hold” rating in a report on Friday, March 21st. One analyst has rated the stock with a sell rating, eight have issued a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $120.95.

Beacon Roofing Supply Price Performance

The company has a market cap of $7.62 billion, a PE ratio of 21.15 and a beta of 1.63. The stock has a fifty day simple moving average of $118.65 and a two-hundred day simple moving average of $106.53. 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) last released its quarterly earnings data on Thursday, February 27th. The company reported $1.65 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.66 by ($0.01). The business had revenue of $2.40 billion during the quarter, compared to analysts’ expectations of $2.43 billion. Beacon Roofing Supply had a return on equity of 25.32% and a net margin of 3.86%. On average, equities analysts predict that Beacon Roofing Supply, Inc. will post 7.22 EPS for the current fiscal year.

Institutional Trading of Beacon Roofing Supply

A number of institutional investors have recently added to or reduced their stakes in BECN. Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in shares of Beacon Roofing Supply during the 4th quarter worth approximately $3,184,000. Polar Asset Management Partners Inc. purchased a new position in shares of Beacon Roofing Supply in the fourth quarter valued at $4,510,000. Forum Financial Management LP acquired a new position in shares of Beacon Roofing Supply during the 4th quarter worth $224,000. Amiral Gestion purchased a new stake in shares of Beacon Roofing Supply in the fourth quarter valued at about $1,478,000. Finally, Public Employees Retirement System of Ohio purchased a new stake in Beacon Roofing Supply in the 4th quarter valued at approximately $9,873,000. Hedge funds and other institutional investors own 98.45% of the company’s stock.

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.