Beacon Roofing Suppl (NASDAQ:BECN) Experiences Heavier than Average Trading Volume


Beacon Roofing Suppl shares had a trading volume of 2,500K on Tuesday. Shares saw a steep increase in trading volume of 351.37% over the normal average daily volume.

Traders are feeling more bearish on the company recently if you take into consideration the change in short interest. The firm recorded a rise in short interest from September 29, 2017 to October 13, 2017 of 5.86%. Short shares increased from 2,649,857 to 2,805,259 over that timeframe. Days to cover increased from 2.0 to 5.0 and the percentage of shorted shares is 0.04% as of October 13.

A few notable investment firms have updated their holdings. Daruma Capital Management LLC grew its position by buying 36,749 shares an increase of 3.6%. Daruma Capital Management LLC currently owns 1,043,895 shares with a value of $53,500,000. The total value of its holdings increased 8.4%. State Street Corp augmented its investment by buying 15,221 shares an increase of 1.3% from 06/30/2017 to 09/30/2017. State Street Corp owns 1,206,717 shares valued at $61,846,000. The value of the position overall is up by 5.9%.

Lord, Abbett & Co. LLC expanded its ownership by buying 216,201 shares an increase of 11.5% in the quarter. Lord, Abbett & Co. LLC claims 2,089,816 shares worth $107,103,000. The value of the position overall is up by 16.7%. Public Employees Retirement System Of Ohio added to its holdings by buying 3,073 shares an increase of 1.6% as of 09/30/2017. Public Employees Retirement System Of Ohio controls 197,664 shares worth $10,130,000. The value of the position overall is up by 6.2%.

September 12 investment analysts at SunTrust Banks reiterated a “Buy” rating on the company. October 2 investment analysts at SunTrust Banks left the company rating at “Buy” projecting a price of $55.00.

On October 10 Royal Bank Of Canada kept the stock rating at “Buy” targeting a price of $53.00. October 12 investment analysts at Robert W. Baird left the stock rating at “Buy” with a current price target of $55.00.

October 15 investment analysts at KeyCorp held the stock rating at “Buy” with a current price target of $56.00. Wells Fargo & Company released research on BECN with an initial rating of “Market Perform”.

The company is up since yesterday’s close of 58.98. The P/E ratio is currently 36.76 and the market value is 4.01B. In the last earnings report the EPS was $1.64 with 67.73M shares now outstanding.

Beacon Roofing Supply, Inc., launched on July 16, 1997, is involved in the distribution of residential and non-residential roofing materials in the United States and Canada. The Company also distributes complementary building products for residential and non-residential building exteriors. The Company purchases products from manufacturers and then distributes these goods to a customer base consisting of contractors, home builders, retailers and building materials suppliers..