Stock Traders Buy Large Volume of Call Options on Beacon Roofing Supply (BECN)

Beacon Roofing Supply, Inc. (NASDAQ:BECN) was the target of unusually large options trading activity on Monday. Stock traders bought 2,065 call options on the company. This represents an increase of 1,794% compared to the typical daily volume of 109 call options.

A number of research firms recently commented on BECN. Zacks Investment Research downgraded shares of Beacon Roofing Supply from a “strong-buy” rating to a “hold” rating in a report on Monday, January 22nd. Royal Bank of Canada set a $66.00 target price on shares of Beacon Roofing Supply and gave the stock a “buy” rating in a report on Friday, February 9th. BidaskClub downgraded shares of Beacon Roofing Supply from a “sell” rating to a “strong sell” rating in a report on Wednesday, February 14th. JPMorgan Chase downgraded shares of Beacon Roofing Supply from an “overweight” rating to a “neutral” rating in a report on Thursday, May 10th. Finally, Northcoast Research downgraded shares of Beacon Roofing Supply from a “buy” rating to a “neutral” rating in a report on Monday, May 14th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and five have assigned a buy rating to the stock. Beacon Roofing Supply presently has a consensus rating of “Hold” and a consensus target price of $63.30.

Hedge funds have recently added to or reduced their stakes in the company. We Are One Seven LLC raised its holdings in shares of Beacon Roofing Supply by 194.6% during the first quarter. We Are One Seven LLC now owns 1,918 shares of the company’s stock valued at $102,000 after acquiring an additional 1,267 shares during the period. Cerebellum GP LLC acquired a new stake in shares of Beacon Roofing Supply during the fourth quarter valued at approximately $130,000. Macquarie Group Ltd. purchased a new position in Beacon Roofing Supply during the fourth quarter valued at approximately $147,000. SG Americas Securities LLC purchased a new position in Beacon Roofing Supply during the first quarter valued at approximately $244,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its position in Beacon Roofing Supply by 95.5% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,861 shares of the company’s stock valued at $246,000 after purchasing an additional 1,886 shares in the last quarter. Institutional investors and hedge funds own 97.78% of the company’s stock.

BECN stock opened at $40.56 on Tuesday. Beacon Roofing Supply has a 52-week low of $38.71 and a 52-week high of $66.47. The company has a current ratio of 2.18, a quick ratio of 1.13 and a debt-to-equity ratio of 1.65. The company has a market cap of $2.74 billion, a PE ratio of 18.61, a PEG ratio of 0.39 and a beta of 1.40.

Beacon Roofing Supply (NASDAQ:BECN) last released its quarterly earnings results on Tuesday, May 8th. The company reported ($0.35) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.09) by ($0.26). Beacon Roofing Supply had a net margin of 1.80% and a return on equity of 8.11%. The firm had revenue of $1.43 billion for the quarter, compared to analyst estimates of $1.41 billion. During the same quarter in the prior year, the firm earned ($0.04) EPS. The firm’s revenue was up 64.1% compared to the same quarter last year. equities research analysts anticipate that Beacon Roofing Supply will post 3.46 EPS for the current fiscal 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 other accessories.

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