What Next for Beacon Roofing Supply Inc (NASDAQ:BECN) Stock After Decrease in Shorted Shares?

May 17, 2018 - By Kristen Paramore

Beacon Roofing Supply, Inc. (NASDAQ:BECN) Logo

Investors sentiment decreased to 1.38 in 2017 Q4. Its down 0.53, from 1.91 in 2017Q3. It worsened, as 22 investors sold Beacon Roofing Supply, Inc. shares while 77 reduced holdings. 63 funds opened positions while 74 raised stakes. 64.82 million shares or 2.48% less from 66.46 million shares in 2017Q3 were reported.
Clarivest Asset Ltd Liability Corporation has invested 0% of its portfolio in Beacon Roofing Supply, Inc. (NASDAQ:BECN). Dekabank Deutsche Girozentrale accumulated 25,000 shares or 0.01% of the stock. Asset Management Inc reported 0% stake. 32,613 were accumulated by Advisory Research. Illinois-based Castleark Lc has invested 0.39% in Beacon Roofing Supply, Inc. (NASDAQ:BECN). Df Dent & Inc invested 0.03% in Beacon Roofing Supply, Inc. (NASDAQ:BECN). Evercore Wealth Mngmt Ltd holds 0% in Beacon Roofing Supply, Inc. (NASDAQ:BECN) or 63 shares. California State Teachers Retirement Systems accumulated 105,297 shares. 173,242 are held by Ny State Common Retirement Fund. Brant Point Investment Mgmt Limited Liability Corp reported 175,297 shares stake. Huntington Savings Bank owns 3,024 shares. Brown Brothers Harriman Co reported 0% of its portfolio in Beacon Roofing Supply, Inc. (NASDAQ:BECN). Missouri-based Parkside Finance State Bank has invested 0.02% in Beacon Roofing Supply, Inc. (NASDAQ:BECN). California Employees Retirement has 106,841 shares. Amer Grp has invested 0.01% of its portfolio in Beacon Roofing Supply, Inc. (NASDAQ:BECN).

The stock of Beacon Roofing Supply Inc (NASDAQ:BECN) registered a decrease of 22.92% in short interest. BECN’s total short interest was 1.71 million shares in May as published by FINRA. Its down 22.92% from 2.22M shares, reported previously. With 427,500 shares average volume, it will take short sellers 4 days to cover their BECN’s short positions.

The stock increased 0.40% or $0.16 during the last trading session, reaching $39.68. About 889,978 shares traded or 17.18% up from the average. Beacon Roofing Supply, Inc. (NASDAQ:BECN) has risen 10.99% since May 17, 2017 and is uptrending. It has underperformed by 0.56% the S&P500.

Beacon Roofing Supply, Inc., together with its subsidiaries, distributes residential and non-residential roofing materials, and other complementary building materials to contractors, home builders, retailers, and building materials suppliers. The company has market cap of $2.70 billion. The companyÂ’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. It has a 16.96 P/E ratio. The Company’s non-residential roofing products comprise single-ply roofing, asphalt, metal, modified bitumen, and build-up roofing products; cements and coatings; flat stock and tapered insulations; commercial fasteners; metal edges and flashings; smoke/roof hatches; roofing tools; sheet metal products, including copper, aluminum, and steel; and PVC, thermoplastic olefin, and ethylene propylene diene monomer membrane products.

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

Among 9 analysts covering Beacon Roofing Supply (NASDAQ:BECN), 5 have Buy rating, 0 Sell and 4 Hold. Therefore 56% are positive. Beacon Roofing Supply had 13 analyst reports since November 21, 2017 according to SRatingsIntel. The rating was maintained by RBC Capital Markets on Friday, February 9 with “Buy”. Citigroup maintained Beacon Roofing Supply, Inc. (NASDAQ:BECN) on Friday, February 9 with “Neutral” rating. Jefferies downgraded the shares of BECN in report on Wednesday, May 9 to “Hold” rating. On Tuesday, November 21 the stock rating was maintained by Robert W. Baird with “Buy”. The company was maintained on Wednesday, May 9 by Wedbush. The company was maintained on Thursday, January 4 by Seaport Global. The company was downgraded on Monday, May 14 by Northcoast. The rating was downgraded by JP Morgan to “Neutral” on Thursday, May 10. Wedbush upgraded Beacon Roofing Supply, Inc. (NASDAQ:BECN) on Tuesday, February 13 to “Outperform” rating. RBC Capital Markets maintained Beacon Roofing Supply, Inc. (NASDAQ:BECN) rating on Tuesday, November 21. RBC Capital Markets has “Buy” rating and $63.0 target.

More news for Beacon Roofing Supply, Inc. (NASDAQ:BECN) were recently published by: Globenewswire.com, which released: “Investor Expectations to Drive Momentum within Balchem, Beacon Roofing Supply, Rice Midstream Partners LP, LTC …” on May 03, 2018. Benzinga.com‘s article titled: “JPMorgan Sends Beacon Roofing To The ‘Penalty Box’ After Q2 Miss” and published on May 10, 2018 is yet another important article.

Beacon Roofing Supply, Inc. (NASDAQ:BECN) Institutional Positions Chart

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