Notable Price Action: Is Selling Beacon Roofing Supply, Inc. Here a Winning Strategy?

Notable Price Action: Is Selling Beacon Roofing Supply, Inc. Here a Winning Strategy?

The stock of Beacon Roofing Supply, Inc. (NASDAQ:BECN) is a huge mover today! About 279,428 shares traded hands. Beacon Roofing Supply, Inc. (NASDAQ:BECN) has risen 12.90% since March 4, 2016 and is uptrending. It has outperformed by 4.86% the S&P500.
The move comes after 9 months negative chart setup for the $2.67B company. It was reported on Oct, 7 by We have $39.47 PT which if reached, will make NASDAQ:BECN worth $213.60 million less.

Analysts await Beacon Roofing Supply, Inc. (NASDAQ:BECN) to report earnings on November, 22. They expect $0.92 EPS, up 22.67% or $0.17 from last year’s $0.75 per share. BECN’s profit will be $57.26M for 11.66 P/E if the $0.92 EPS becomes a reality. After $0.77 actual EPS reported by Beacon Roofing Supply, Inc. for the previous quarter, Wall Street now forecasts 19.48% EPS growth.

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 18 analyst reports since July 28, 2015 according to StockzIntelligence Inc. Raymond James upgraded the stock to “Outperform” rating in Tuesday, July 28 report. RBC Capital Markets maintained Beacon Roofing Supply, Inc. (NASDAQ:BECN) rating on Monday, August 10. RBC Capital Markets has “Sector Perform” rating and $37.0 price target. The stock has “Sector Perform” rating given by RBC Capital Markets on Monday, February 8. On Monday, November 30 the stock rating was downgraded by Stephens to “Equal-Weight”. Raymond James upgraded Beacon Roofing Supply, Inc. (NASDAQ:BECN) on Monday, February 8 to “Strong Buy” rating. The stock of Beacon Roofing Supply, Inc. (NASDAQ:BECN) has “Neutral” rating given on Monday, January 11 by Citigroup. The stock has “Neutral” rating given by Wedbush on Wednesday, September 7. TheStreet upgraded the shares of BECN in a report on Wednesday, August 12 to “Hold” rating. The rating was upgraded by CL King on Wednesday, July 29 to “Buy”. The rating was maintained by RBC Capital Markets on Wednesday, November 25 with “Sector Perform”.

According to Zacks Investment Research, “Beacon Roofing Supply, Inc. is one of the largest distributors of residential and non-residential roofing materials in the United States and Canada. It also distributes other complementary exterior building products. It operate in several states and three Canadian provinces and is a leading distributor of roofing materials in key metropolitan markets in the Northeast, Mid-Atlantic, Southeast and Southwest regions of the United States and in Eastern Canada.”

Insitutional Activity: The institutional sentiment increased to 1.64 in 2016 Q2. Its up 0.56, from 1.08 in 2016Q1. The ratio is positive, 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.
Atlanta Cap Mngmt L L C has invested 0.19% of its portfolio in Beacon Roofing Supply, Inc. (NASDAQ:BECN). Bluemar Capital Ltd Liability Corp, a New York-based fund reported 50,000 shares. Da Davidson & owns 3,536 shares or 0% of their US portfolio. Aperio Group Ltd Company accumulated 9,693 shares or 0% of the stock. Moreover, Proshare Advsrs has 0% invested in Beacon Roofing Supply, Inc. (NASDAQ:BECN) for 7,529 shares. Finemark Natl Fincl Bank has invested 0.01% of its portfolio in Beacon Roofing Supply, Inc. (NASDAQ:BECN). Dimensional Fund Advsrs Ltd Partnership holds 0.06% or 2.24 million shares in its portfolio. Fdx Advisors owns 20,042 shares or 0.04% of their US portfolio. The Missouri-based Stifel has invested 0% in Beacon Roofing Supply, Inc. (NASDAQ:BECN). Balyasny Asset Mngmt Limited Liability Company reported 182,662 shares or 0.05% of all its holdings. Neuberger Berman Group Inc Ltd Liability Corp has 19,613 shares for 0% of their US portfolio. Washington Trust Savings Bank holds 0% or 57 shares in its portfolio. Ameriprise Financial Inc has 0.02% invested in the company for 936,357 shares. Moreover, Deutsche National Bank & Trust Ag has 0.02% invested in Beacon Roofing Supply, Inc. (NASDAQ:BECN) for 687,889 shares. Friess Associate last reported 1.63% of its portfolio in the stock.

Insider Transactions: Since May 20, 2016, the stock had 2 buys, and 3 selling transactions for $362.91 million net activity. 6,000 shares were bought by MCLAUGHLIN ROBERT M, worth $274,740. 8.54 million shares were sold by CD&R Associates VIII – Ltd., worth $360.92M on Friday, May 20. Cooper Ross D also sold $399,143 worth of Beacon Roofing Supply, Inc. (NASDAQ:BECN) shares. Another trade for 5,000 shares valued at $224,050 was made by BERQUIST CARL T on Wednesday, September 7. Another trade for 45,000 shares valued at $2.08 million was sold by ISABELLA PAUL.

More notable recent Beacon Roofing Supply, Inc. (NASDAQ:BECN) news were published by: which released: “Beacon Roofing Supply Announces Acquisition of Portland, Oregon-based …” on June 01, 2016, also with their article: “Beacon Roofing Supply Announces Acquisition of Omaha, Nebraska-Based RCI …” published on December 01, 2015, published: “Beacon Roofing Supply, Inc. Announces Secondary Offering of 8536500 Shares of …” on May 16, 2016. More interesting news about Beacon Roofing Supply, Inc. (NASDAQ:BECN) were released by: and their article: “Beacon Roofing Supply Inc. Reports 64% Gain In Q3 Bottom Line” published on August 02, 2016 as well as‘s news article titled: “Beacon Roofing Supply Announces Acquisition of Michigan-Based Fox Brothers Company” with publication date: May 02, 2016.

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.

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