Beacon Roofing Supply, Inc. (NASDAQ:BECN) was the recipient of some unusual options trading on Thursday. Stock traders acquired 1,624 put options on the stock. This is an increase of approximately 2,398% compared to the typical daily volume of 65 put options.
BECN has been the subject of a number of recent analyst reports. William Blair upgraded Beacon Roofing Supply from a "market perform" rating to an "outperform" rating in a report on Tuesday, October 6th. BidaskClub cut Beacon Roofing Supply from a "buy" rating to a "hold" rating in a report on Thursday, October 29th. Robert W. Baird boosted their price objective on Beacon Roofing Supply from $43.00 to $48.00 and gave the company an "outperform" rating in a report on Friday. Royal Bank of Canada boosted their price objective on Beacon Roofing Supply from $26.00 to $33.00 and gave the company an "underperform" rating in a report on Friday. Finally, Zacks Investment Research upgraded Beacon Roofing Supply from a "hold" rating to a "strong-buy" rating and set a $38.00 price objective for the company in a report on Tuesday, October 6th. Three analysts have rated the stock with a sell rating, six have issued a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. The stock has an average rating of "Hold" and an average target price of $32.35.
Several hedge funds and other institutional investors have recently modified their holdings of the stock. Northwood Liquid Management LP purchased a new stake in shares of Beacon Roofing Supply during the 3rd quarter worth $2,114,000. Voloridge Investment Management LLC increased its position in Beacon Roofing Supply by 100.8% during the 3rd quarter. Voloridge Investment Management LLC now owns 82,300 shares of the company's stock valued at $2,557,000 after buying an additional 41,308 shares in the last quarter. Neo Ivy Capital Management acquired a new position in Beacon Roofing Supply during the 3rd quarter valued at about $173,000. Squarepoint Ops LLC increased its position in Beacon Roofing Supply by 873.8% during the 3rd quarter. Squarepoint Ops LLC now owns 127,984 shares of the company's stock valued at $3,976,000 after buying an additional 114,841 shares in the last quarter. Finally, Engineers Gate Manager LP acquired a new position in Beacon Roofing Supply during the 3rd quarter valued at about $784,000. Hedge funds and other institutional investors own 98.01% of the company's stock.
Shares of NASDAQ BECN traded down $0.75 during mid-day trading on Friday, reaching $36.93. 31,167 shares of the company were exchanged, compared to its average volume of 582,082. The company has a quick ratio of 1.59, a current ratio of 2.25 and a debt-to-equity ratio of 1.98. The stock has a market cap of $2.60 billion, a price-to-earnings ratio of -17.05 and a beta of 1.95. Beacon Roofing Supply has a 1 year low of $11.66 and a 1 year high of $38.50. The firm has a 50-day moving average of $34.65 and a 200 day moving average of $29.47.
Beacon Roofing Supply (NASDAQ:BECN) last issued its quarterly earnings data on Wednesday, November 18th. The company reported $1.32 earnings per share for the quarter, topping analysts' consensus estimates of $0.99 by $0.33. Beacon Roofing Supply had a positive return on equity of 9.45% and a negative net margin of 1.80%. During the same quarter in the previous year, the company posted $1.04 earnings per share. On average, equities analysts forecast that Beacon Roofing Supply will post 2.09 earnings per share for the current year.
Beacon Roofing Supply Company Profile
Beacon Roofing Supply, Inc, together with its subsidiaries, distributes residential and commercial roofing materials, and other complementary building materials to contractors, home builders, retailers, and building materials suppliers. The company's residential roofing products include asphalt shingles, synthetic slates and tiles, clay and concrete tiles, slates, nail base insulations, metal roofing, felts, synthetic underlayment, wood shingles and shakes, nails and fasteners, metal edgings and flashings, prefabricated flashings, ridges and soffit vents, and solar systems.
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