Beacon Roofing Supply Rises On Unusually High Volume (BECN)
NEW YORK (TheStreet) -- Beacon Roofing Supply (Nasdaq:BECN) is trading at unusually high volume Wednesday with 1.6 million shares changing hands. It is currently at four times its average daily volume and trading up 84 cents (+4.2%) at $20.86 as of 2:15 p.m. ET. Beacon Roofing Supply has a market cap of $897.7 million and is part of the services sector and wholesale industry. Shares are up 12% year to date as of the close of trading on Tuesday. Beacon Roofing Supply, Inc. distributes residential and non-residential roofing materials in the United States and Canada. The company has a P/E ratio of 26.2, equal to the average wholesale industry P/E ratio and above the S&P 500 P/E ratio of 23.4. TheStreet Ratings rates Beacon Roofing Supply as a buy. The company's strengths can be seen in multiple areas, such as its largely solid financial position with reasonable debt levels by most measures, good cash flow from operations and increase in stock price during the past year. We feel these strengths outweigh the fact that the company has had sub par growth in net income. You can view the full Beacon Roofing Supply Ratings Report.
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