Finally Time To Cut Your Stake? Robert W. Baird Downgrades Beacon Roofing Supply (NASDAQ:BECN) Shares

October 2, 2018 - By Linda Rogers

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

Investors sentiment increased to 1.34 in Q2 2018. Its up 0.48, from 0.86 in 2018Q1. It increased, as 40 investors sold Beacon Roofing Supply, Inc. shares while 54 reduced holdings. 37 funds opened positions while 89 raised stakes. 71.31 million shares or 12.13% more from 63.59 million shares in 2018Q1 were reported.

Savings Bank Of America De reported 693,309 shares or 0% of all its holdings. Strs Ohio stated it has 0.01% of its portfolio in Beacon Roofing Supply, Inc. (NASDAQ:BECN). 7,035 were accumulated by Prudential. International Grp reported 0.01% stake. Gmt Corp holds 227,400 shares or 0.23% of its portfolio. Wealthtrust Fairport Llc has invested 0% of its portfolio in Beacon Roofing Supply, Inc. (NASDAQ:BECN). Fortaleza Asset Management Inc owns 2,755 shares for 0.95% of their portfolio. Amalgamated Bancshares holds 0.01% or 10,130 shares in its portfolio. Teacher Retirement Sys Of Texas stated it has 0% of its portfolio in Beacon Roofing Supply, Inc. (NASDAQ:BECN). The Kentucky-based Renaissance Group Lc has invested 0.01% in Beacon Roofing Supply, Inc. (NASDAQ:BECN). Employees Retirement Association Of Colorado holds 0.11% of its portfolio in Beacon Roofing Supply, Inc. (NASDAQ:BECN) for 389,211 shares. Stephens Inv Mgmt Grp Incorporated Lc reported 823,887 shares. Oppenheimer Asset Mgmt stated it has 54,802 shares. Diligent Ltd Company stated it has 7,727 shares. Eagle Asset Management accumulated 132,032 shares.

Since May 18, 2018, it had 3 buys, and 0 selling transactions for $824,608 activity. The insider KNISELY PHILIP bought $222,865. 2,470 Beacon Roofing Supply, Inc. (NASDAQ:BECN) shares with value of $99,912 were bought by NOWICKI JOSEPH M.

Beacon Roofing Supply (NASDAQ:BECN) Receives a Downgrade

In a research report shared with investors on 2 October, Robert W. Baird has decided to decreased rating on Beacon Roofing Supply (NASDAQ:BECN) shares to a Neutral. BECN’s prior rating was a Outperform.

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

Among 11 analysts covering Beacon Roofing Supply (NASDAQ:BECN), 4 have Buy rating, 1 Sell and 6 Hold. Therefore 36% are positive. Beacon Roofing Supply has $6500 highest and $44 lowest target. $53.83’s average target is 54.51% above currents $34.84 stock price. Beacon Roofing Supply had 14 analyst reports since May 9, 2018 according to SRatingsIntel. The firm earned “Neutral” rating on Thursday, May 10 by JP Morgan. The company was downgraded on Monday, May 14 by Northcoast. The firm has “Outperform” rating given on Wednesday, August 8 by Wedbush. On Thursday, June 28 the stock rating was downgraded by RBC Capital Markets to “Sector Perform”. Citigroup downgraded it to “Neutral” rating and $44 target in Wednesday, August 8 report. The stock of Beacon Roofing Supply, Inc. (NASDAQ:BECN) earned “Buy” rating by Wedbush on Wednesday, May 9. The stock of Beacon Roofing Supply, Inc. (NASDAQ:BECN) has “Overweight” rating given on Friday, July 20 by Stephens. Wells Fargo downgraded the shares of BECN in report on Wednesday, August 8 to “Underperform” rating. JP Morgan maintained Beacon Roofing Supply, Inc. (NASDAQ:BECN) on Friday, August 10 with “Neutral” rating. On Tuesday, June 19 the stock rating was reinitiated by Citigroup with “Buy”.

The stock decreased 3.73% or $1.35 during the last trading session, reaching $34.84. About 1.24 million shares traded or 1.90% up from the average. Beacon Roofing Supply, Inc. (NASDAQ:BECN) has declined 14.85% since October 2, 2017 and is downtrending. It has underperformed by 30.47% the S&P500.

Analysts await Beacon Roofing Supply, Inc. (NASDAQ:BECN) to report earnings on November, 19. They expect $1.38 earnings per share, up 48.39 % or $0.45 from last year’s $0.93 per share. BECN’s profit will be $93.99 million for 6.31 P/E if the $1.38 EPS becomes a reality. After $1.18 actual earnings per share reported by Beacon Roofing Supply, Inc. for the previous quarter, Wall Street now forecasts 16.95 % EPS growth.

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 $2.37 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 29.25 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.

More notable recent Beacon Roofing Supply, Inc. (NASDAQ:BECN) news were published by: Seekingalpha.com which released: “Beacon Roofing Supply: A Value Gem With Upside Catalysts” on September 24, 2018, also Benzinga.com with their article: “30 Stocks Moving In Monday’s Mid-Day Session” published on September 10, 2018, Streetinsider.com published: “Baird Downgrades Beacon Roofing Supply (BECN) to Neutral” on October 02, 2018. More interesting news about Beacon Roofing Supply, Inc. (NASDAQ:BECN) were released by: Seekingalpha.com and their article: “Weekly Wrap: As Investors Remain Complacent, Insiders Are Cashing In Their Shares” published on September 15, 2018 as well as Investorplace.com‘s news article titled: “Trade of the Day: Beacon Roofing Supply, Inc. (BECN)” with publication date: September 18, 2018.

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

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