Beacon Roofing Supply Sees Unusually High Options Volume (BECN)
Beacon Roofing Supply, Inc. (NASDAQ:BECN) was the recipient of unusually large options trading on Wednesday. Stock traders purchased 4,000 put options on the company. This represents an increase of Infinity compared to the average volume of 0 put options.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. SG Americas Securities LLC purchased a new position in Beacon Roofing Supply during the second quarter valued at $100,000. Advisors Asset Management Inc. lifted its position in Beacon Roofing Supply by 36.7% during the second quarter. Advisors Asset Management Inc. now owns 2,105 shares of the company’s stock valued at $103,000 after purchasing an additional 565 shares in the last quarter. Zions Bancorporation purchased a new position in Beacon Roofing Supply during the third quarter valued at $124,000. Huntington National Bank lifted its position in Beacon Roofing Supply by 3.8% during the second quarter. Huntington National Bank now owns 3,138 shares of the company’s stock valued at $154,000 after purchasing an additional 116 shares in the last quarter. Finally, Lloyds Banking Group plc lifted its position in Beacon Roofing Supply by 37.7% during the second quarter. Lloyds Banking Group plc now owns 3,694 shares of the company’s stock valued at $180,000 after purchasing an additional 1,012 shares in the last quarter. Institutional investors own 92.50% of the company’s stock.
Beacon Roofing Supply (BECN) opened at $55.63 on Friday. The firm has a market capitalization of $3,696.30, a price-to-earnings ratio of 26.13, a P/E/G ratio of 2.54 and a beta of 1.45. The company has a current ratio of 2.30, a quick ratio of 1.36 and a debt-to-equity ratio of 0.86. Beacon Roofing Supply has a 52-week low of $39.57 and a 52-week high of $56.36.
A number of equities analysts have recently issued reports on the company. Royal Bank Of Canada dropped their price target on Beacon Roofing Supply from $58.00 to $50.00 and set an “outperform” rating on the stock in a research note on Friday, August 4th. SunTrust Banks, Inc. restated a “buy” rating and issued a $55.00 price target on shares of Beacon Roofing Supply in a research note on Monday, October 2nd. Wedbush restated a “neutral” rating and issued a $46.00 price target (down from $52.00) on shares of Beacon Roofing Supply in a research note on Friday. BidaskClub downgraded Beacon Roofing Supply from a “sell” rating to a “strong sell” rating in a research note on Wednesday, August 2nd. Finally, Robert W. Baird restated a “buy” rating and issued a $55.00 price target on shares of Beacon Roofing Supply in a research note on Thursday, October 12th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and seven have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $53.08.
About Beacon Roofing Supply
Beacon Roofing Supply, Inc is engaged in the distribution of residential and non-residential roofing materials in the United States and Canada. It also distributes complementary building products for residential and non-residential building exteriors. Its product portfolio includes residential roofing products, non-residential roofing products and complementary building products.
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