RBC Capital: Beacon Roofing Supply (NASDAQ:BECN) Hit “Sector Perform” From “Outperform”.

June 29, 2018 - By Anthony Rauscher

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

Big Money Sentiment decreased to 0.86 in 2018 Q1. It has change of 0.52, from 2017Q4’s 1.38. The ratio fall due to Beacon Roofing Supply, Inc. positioning: 36 sold and 89 reduced. 36 funds bought positions and 71 increased positions. Investors holded 64.82 million in 2017Q4 but now own 63.59 million shares or 1.89% less.

Zacks Inv Management stated it has 18,549 shs. Public Employees Retirement Association Of Colorado reported 389,211 shs. Campbell & Communication Inv Adviser Ltd Limited Liability Company has invested 0.58% of its capital in Beacon Roofing Supply, Inc. (NASDAQ:BECN). Commercial Bank Of New York Mellon has 1.11 million shs. Cubist Systematic Strategies Limited Liability Company invested in 7,108 shs or 0.02% of the stock. 87,183 are held by Highbridge Mgmt Limited Liability Corp. Ohio-based Meeder Asset Mngmt has invested 0% in Beacon Roofing Supply, Inc. (NASDAQ:BECN). Hsbc Holding Public Ltd Com owns 7,415 shs. Fifth Third Bank has invested 0% in Beacon Roofing Supply, Inc. (NASDAQ:BECN). Fincl Architects invested in 200 shs. Gotham Asset Mngmt Limited Liability Company reported 87,494 shs. Prelude Cap Mngmt Limited Liability Company reported 6,240 shs. Spitfire Llc reported 5.01% in Beacon Roofing Supply, Inc. (NASDAQ:BECN). Stevens Mngmt L P holds 56,653 shs. Utd Serv Automobile Association holds 0% or 10,402 shs.

Beacon Roofing Supply, Inc. had 0 sales and 2 buys since May 18, 2018. This’s net activity of $601,743. $99,912 worth of Beacon Roofing Supply, Inc. (NASDAQ:BECN) was bought by NOWICKI JOSEPH M.

RBC Capital Lowered Beacon Roofing Supply (NASDAQ:BECN)’s Rating to “Sector Perform”.

It was published on Thursday morning that RBC Capital lowered Beacon Roofing Supply (NASDAQ:BECN)‘s rating to “Sector Perform”. BECN’s old rating was “Outperform”.

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

In total 10 analysts cover Beacon Roofing Supply (NASDAQ:BECN). “Buy” rating has 6, “Sell” are 0, while 4 are “Hold”. (NASDAQ:BECN) has 60% bullish analysts. 15 are the (NASDAQ:BECN)’s ratings reports on Jun 29, 2018 according to StockzIntelligence Inc. On Tuesday, February 13 the stock has “Outperform” rating by Wedbush. On Thursday, June 28 the firm has “Sector Perform” rating by RBC Capital Markets given. On Friday, February 9 the stock of Beacon Roofing Supply, Inc. (NASDAQ:BECN) has “Buy” rating given by RBC Capital Markets. On Friday, February 9 the stock of Beacon Roofing Supply, Inc. (NASDAQ:BECN) has “Neutral” rating given by Citigroup. In Wednesday, May 9 report Wedbush maintained the stock with “Buy” rating. On Monday, January 8 Northcoast maintained Beacon Roofing Supply, Inc. (NASDAQ:BECN) rating. Northcoast has “Buy” rating and $73.0 target. On Tuesday, June 19 Citigroup reinitiated the shares of BECN in report with “Buy” rating. On Thursday, May 10 the firm earned “Neutral” rating by JP Morgan. On Monday, May 14 the firm has “Hold” rating given by Northcoast. On Wednesday, May 9 the company was downgraded by Jefferies.

BECN is touching $42.33 during the last trading session, after increased 0.45%.Currently Beacon Roofing Supply, Inc. is downtrending after 14.29% change in last June 29, 2017. BECN has 503,714 shares volume. The stock underperformed the S&P500 by 26.86%.

Investors wait Beacon Roofing Supply, Inc. (NASDAQ:BECN)’s quarterly earnings on August, 1., according to RTT. earnings per share of $1.33 is 58.33 % up from 2017’s $0.84 EPS. This could hit $90.55M profit for BECN assuming the current $1.33 earnings per share will become reality. After $-0.35 EPS report previous quarter, Wall Street now forecasts -480.00 % EPS growth of Beacon Roofing Supply, Inc..

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 firm is valued at $2.88 billion. 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.The P/E ratio is 32.31. 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.

Another two news for Beacon Roofing Supply, Inc. (NASDAQ:BECN) were briefly published by: Globenewswire.com on June 22, 2018 with title “Market Trends Toward New Normal in TPI Composites, Beacon Roofing Supply, Piper Jaffray Companies, SunCoke …”. The other Businesswire.com‘s article was titled “Beacon Roofing Supply Awarded Nationally Acclaimed Partners of Choice Award from David Weekley Homes” and published on June 28, 2018.

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

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