Short Interest To Observe: Could Beacon Roofing Supply Incorporated (NASDAQ:BECN) See a Reversal After More Sellers Came In?

November 25, 2016 - By Marguerite Chambers   ·   0 Comments

Short Interest To Observe: Could Beacon Roofing Supply Incorporated (NASDAQ:BECN) See a Reversal After More Sellers Came In?

The stock of Beacon Roofing Supply Incorporated (NASDAQ:BECN) registered an increase of 7.4% in short interest. BECN’s total short interest was 3.28M shares in November as published by FINRA. Its up 7.4% from 3.06M shares, reported previously. With 409,800 shares average volume, it will take short sellers 8 days to cover their BECN’s short positions. The short interest to Beacon Roofing Supply Incorporated’s float is 5.51%. About 157,935 shares traded hands. Beacon Roofing Supply, Inc. (NASDAQ:BECN) has risen 4.92% since April 22, 2016 and is uptrending. It has underperformed by 0.49% the S&P500.

Beacon Roofing Supply, Inc. is a distributor of residential and non-residential roofing materials in the United States. The company has a market cap of $2.81 billion. The Firm operates in the wholesale distribution of building materials segment. It has a 31.24 P/E ratio. The Firm distributes other complementary building materials, such as waterproofing systems for residential and non-residential building exteriors.

Insitutional Activity: The institutional sentiment decreased to 0.93 in 2016 Q2. Its down 0.71, from 1.64 in 2016Q1. The ratio worsened, as 13 funds sold all Beacon Roofing Supply, Inc. shares owned while 65 reduced positions. 44 funds bought stakes while 84 increased positions. They now own 68.71 million shares or 11.86% more from 61.42 million shares in 2016Q1.
Savings Bank Of Montreal Can has 0.01% invested in the company for 101,725 shares. Ridgeworth Cap Mgmt Ltd Llc last reported 14,164 shares in the company. Bluecrest Capital Management accumulated 32,417 shares or 0.06% of the stock. Bnp Paribas Arbitrage holds 0% or 16,176 shares in its portfolio. Cipher Cap Ltd Partnership owns 47,069 shares or 0.15% of their US portfolio. The Quebec – Canada-based Fiera Cap has invested 0.02% in Beacon Roofing Supply, Inc. (NASDAQ:BECN). Teacher Retirement Of Texas holds 0% of its portfolio in Beacon Roofing Supply, Inc. (NASDAQ:BECN) for 6,998 shares. Prudential holds 0% or 11,618 shares in its portfolio. Ubs Asset Mngmt Americas Inc has invested 0% of its portfolio in Beacon Roofing Supply, Inc. (NASDAQ:BECN). Kingdon Cap Lc owns 179,278 shares or 0.45% of their US portfolio. Bancorp Of New York Mellon Corporation accumulated 0.02% or 1.26M shares. Citigroup last reported 0.01% of its portfolio in the stock. Vigilant Cap Mgmt Ltd Liability Corp accumulated 0% or 116 shares. Elk Creek Prns Ltd has invested 0.99% of its portfolio in Beacon Roofing Supply, Inc. (NASDAQ:BECN). Deutsche Bancorporation Ag, a Germany-based fund reported 687,889 shares.

Insider Transactions: Since July 7, 2016, the stock had 2 insider buys, and 2 sales for $1.98 million net activity. On Friday, August 26 the insider ISABELLA PAUL sold $2.08M. MCLAUGHLIN ROBERT M had bought 6,000 shares worth $274,740. Cooper Ross D had sold 8,403 shares worth $399,143. $224,050 worth of Beacon Roofing Supply, Inc. (NASDAQ:BECN) was bought by BERQUIST CARL T.

Beacon Roofing Supply, Inc. (NASDAQ:BECN) Ratings Coverage

Out of 12 analysts covering Beacon Roofing Supply (NASDAQ:BECN), 8 rate it a “Buy”, 0 “Sell”, while 4 “Hold”. This means 67% are positive. Beacon Roofing Supply has been the topic of 19 analyst reports since July 28, 2015 according to StockzIntelligence Inc. William Blair upgraded the stock to “Outperform” rating in Tuesday, January 19 report. TheStreet upgraded the stock to “Hold” rating in Wednesday, August 12 report. The rating was initiated by Wedbush on Wednesday, September 7 with “Neutral”. On Tuesday, November 22 the stock rating was maintained by RBC Capital Markets with “Outperform”. Citigroup initiated the shares of BECN in a report on Monday, January 11 with “Neutral” rating. The rating was upgraded by Raymond James on Monday, February 8 to “Strong Buy”. The company was upgraded on Monday, October 26 by JP Morgan. The firm earned “Buy” rating on Friday, June 10 by BB&T Capital. The stock of Beacon Roofing Supply, Inc. (NASDAQ:BECN) earned “Outperform” rating by Robert W. Baird on Tuesday, July 28. The stock has “Buy” rating given by CL King on Wednesday, July 29.

BECN Company Profile

Beacon Roofing Supply, Inc., incorporated on July 16, 1997, is a distributor of residential and non-residential roofing materials in the United States. The Firm operates in the wholesale distribution of building materials segment. The Firm distributes other complementary building materials, such as waterproofing systems for residential and non-residential building exteriors. It provides its clients an array of services, including advice and assistance to contractors throughout the construction process, including product identification, specification and technical support; job site delivery, rooftop loading and logistical services; tapered insulation design and layout services; metal fabrication and related metal roofing design and layout services; trade credit, and marketing support, including project leads for contractors. As of September 30, 2015, the Company operated approximately 270 branches in over 40 states in the United States and approximately six provinces in Canada.

More important recent Beacon Roofing Supply, Inc. (NASDAQ:BECN) news were published by: Businesswire.com which released: “Beacon Roofing Supply Announces Acquisition of Portland, Oregon-based …” on June 01, 2016, also Businesswire.com published article titled: “Beacon Roofing Supply Announces Acquisition of Michigan-Based Fox Brothers Company”, Prnewswire.com published: “Research Reports Initiation on Industrial Goods Stocks — Beacon Roofing …” on October 25, 2016. More interesting news about Beacon Roofing Supply, Inc. (NASDAQ:BECN) was released by: Businesswire.com and their article: “Beacon Roofing Supply Announces the Acquisition of Dallas, Texas-Based Roofing …” with publication date: December 18, 2015.

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By Marguerite Chambers


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