Stock Traders Buy High Volume of Beacon Roofing Supply Call Options (NASDAQ:BECN)

Beacon Roofing Supply, Inc. (NASDAQ:BECN) saw unusually large options trading activity on Tuesday. Stock traders purchased 2,221 call options on the company. This represents an increase of 228% compared to the average volume of 677 call options.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the stock. Robert W. Baird increased their target price on shares of Beacon Roofing Supply from $120.00 to $124.00 and gave the stock an “outperform” rating in a report on Friday, February 28th. Zelman & Associates lowered shares of Beacon Roofing Supply from a “strong-buy” rating to a “hold” rating in a report on Thursday, January 16th. Benchmark reiterated a “buy” rating and set a $140.00 target price on shares of Beacon Roofing Supply in a report on Monday, March 3rd. Stifel Nicolaus lowered shares of Beacon Roofing Supply from a “buy” rating to a “hold” rating and reduced their target price for the stock from $131.00 to $122.55 in a report on Friday, February 7th. Finally, StockNews.com assumed coverage on shares of Beacon Roofing Supply in a report on Monday. They set a “sell” rating on the stock. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $119.95.

Beacon Roofing Supply Price Performance

Shares of NASDAQ:BECN opened at $121.53 on Thursday. The company’s fifty day moving average price is $116.16 and its 200 day moving average price is $103.97. Beacon Roofing Supply has a 12 month low of $77.54 and a 12 month high of $123.65. The company has a debt-to-equity ratio of 1.60, a current ratio of 1.91 and a quick ratio of 1.14. The firm has a market capitalization of $7.48 billion, a P/E ratio of 20.77 and a beta of 1.63.

Beacon Roofing Supply (NASDAQ:BECN) last announced its quarterly earnings results on Thursday, February 27th. The company reported $1.65 EPS for the quarter, missing the consensus estimate of $1.66 by ($0.01). Beacon Roofing Supply had a return on equity of 25.32% and a net margin of 3.86%. The company had revenue of $2.40 billion for the quarter, compared to analyst estimates of $2.43 billion. As a group, sell-side analysts predict that Beacon Roofing Supply will post 7.22 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Beacon Roofing Supply

Hedge funds and other institutional investors have recently bought and sold shares of the stock. SBI Securities Co. Ltd. acquired a new stake in Beacon Roofing Supply during the 4th quarter worth $31,000. Quarry LP raised its stake in Beacon Roofing Supply by 180.7% during the 3rd quarter. Quarry LP now owns 306 shares of the company’s stock worth $26,000 after acquiring an additional 197 shares in the last quarter. Harvest Fund Management Co. Ltd purchased a new position in Beacon Roofing Supply during the 3rd quarter worth $28,000. Johnson Financial Group Inc. purchased a new position in Beacon Roofing Supply during the 4th quarter worth $54,000. Finally, PNC Financial Services Group Inc. grew its position in Beacon Roofing Supply by 38.1% during the 4th quarter. PNC Financial Services Group Inc. now owns 591 shares of the company’s stock worth $60,000 after purchasing an additional 163 shares during the last quarter. 98.45% of the stock is currently owned by institutional investors and hedge funds.

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.