Beacon Roofing Supply, Inc. (NASDAQ:BECN) Stock Closed Much Lower Than Its 50 Day Moving Average


The stock last traded at $43.12 marginally under the 50 day moving average which is $47.15 and a tad below the 200 day moving average of $47.75. The 50 day moving average went down by -8.54% whereas the 200 day moving average was down $-4.63 or -9.69%. Trading volume for Beacon Roofing Supply, Inc. was 370K in the last trading session. Shares saw a steep increase in trading volume of 43.28% over the normal average daily volume.

The following firms have also recently changed their position in BECN. J.p. Marvel Investment Advisors, LLC downsized its investment by selling 7,770 shares a decrease of 5.2% as of 03/31/2017. J.p. Marvel Investment Advisors, LLC controls 140,450 shares valued at $6,905,000. The total value of its holdings increased 1.1%. As of the end of the quarter Morgan Stanley had acquired 300 shares growing its position 105.3%. The value of the investment in BECN went from $13,000 to $29,000 increasing 123.1% since the last quarter.

As of quarter end Goldman Sachs Group Inc had bought a total of 1,367,817 shares growing its holdings by 23,767.5%. The value of the company’s investment in Beacon Roofing Supply, Inc. increased from $265,000 to $67,525,000 a change of 25,381.1% quarter to quarter. Ironwood Investment Management LLC reduced its holdings by shedding 1,217 shares a decrease of 3.9%. Ironwood Investment Management LLC now controls 29,745 shares with a value of $1,462,000. The value of the position overall is up by 2.5%.

On December 7, 2016 Seaport Global added BECN to its research portfolio setting a rating of “Buy”. On November 22 Baird kept the stock rating at “Outperform” and raised the price target to $56.00 from $40.00.

On September 7 analysts at Wedbush initiated coverage with an initial rating of “Neutral” and a price target of $50.00. Jefferies initiated coverage on the stock with a rating of “Hold” and price target of $46.00.

On June 10 the company was upgraded from “” to “Buy” by analysts at BB&T Capital. On April 11 the stock rating was upgraded to “Outperform” from “Sector Perform” in a report from RBC Capital.

The company is so far trading unchanged by 0.00 percent from yesterday’s close. Beacon Roofing Supply, Inc. currently has a P/E ratio of 25.61 and the market cap of the company is 2.60B. In the last earnings report the EPS was $1.68 and is estimated to be $2.20 for the current year with 60,311,000 shares outstanding. Next quarter’s EPS is expected be $0.51 and the next full year EPS is anticipated to be $2.56.

Beacon Roofing Supply, Inc., launched on July 16, 1997, is involved in the distribution of residential and non-residential roofing materials in the United States and Canada. The Company also distributes complementary building products for residential and non-residential building exteriors. The Company purchases products from manufacturers and then distributes these goods to a customer base consisting of contractors, home builders, retailers and building materials suppliers..