Longbow Research Has Just Given Beacon Roofing Supply (NASDAQ:BECN) a Lower Rating. Are Other Analysts Next?

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

Investors sentiment increased to 1.34 in 2018 Q2. 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.

Skyline Asset Mngmt Lp owns 390,800 shares. Spitfire Limited Liability Company accumulated 248,903 shares. Aqr Ltd Llc invested 0% of its portfolio in Beacon Roofing Supply, Inc. (NASDAQ:BECN). Legal General Group Pcl stated it has 40,810 shares. Timessquare Capital Mngmt Llc has 1.04% invested in Beacon Roofing Supply, Inc. (NASDAQ:BECN). Bluemountain Capital Ltd reported 9,939 shares or 0.01% of all its holdings. Hood River Mngmt owns 0.5% invested in Beacon Roofing Supply, Inc. (NASDAQ:BECN) for 229,311 shares. Millennium Lc holds 348,517 shares or 0.02% of its portfolio. Tocqueville Asset Mngmt Lp stated it has 0% in Beacon Roofing Supply, Inc. (NASDAQ:BECN). Rmb Capital Mngmt Lc reported 0.15% stake. Wealthtrust Fairport Limited Liability reported 1,000 shares. First Interstate Bank owns 254 shares. Jpmorgan Chase Co reported 137,047 shares. Invesco Ltd invested 0.01% in Beacon Roofing Supply, Inc. (NASDAQ:BECN). Architects Inc has 200 shares for 0% of their portfolio.

Since June 4, 2018, it had 7 insider buys, and 0 insider sales for $1.70 million activity. $497,828 worth of stock was bought by NOVICH NEIL S on Wednesday, November 21. BERQUIST CARL T also bought $165,250 worth of Beacon Roofing Supply, Inc. (NASDAQ:BECN) shares. $501,831 worth of Beacon Roofing Supply, Inc. (NASDAQ:BECN) was bought by FROST RICHARD W. 4,750 Beacon Roofing Supply, Inc. (NASDAQ:BECN) shares with value of $149,147 were bought by Harrison Christopher Anthony. $222,865 worth of Beacon Roofing Supply, Inc. (NASDAQ:BECN) was bought by KNISELY PHILIP. The insider MCLAUGHLIN ROBERT M bought $229,110.

Beacon Roofing Supply (NASDAQ:BECN) Receives a Downgrade

In a note revealed to clients and investors on Today, professional analysts at the Longbow Research equities research division lowered the stock rating for Beacon Roofing Supply (NASDAQ:BECN) shares to a Hold.

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

Among 14 analysts covering Beacon Roofing Supply (NASDAQ:BECN), 5 have Buy rating, 0 Sell and 9 Hold. Therefore 36% are positive. Beacon Roofing Supply has $61 highest and $25 lowest target. $42.09’s average target is 20.74% above currents $34.86 stock price. Beacon Roofing Supply had 20 analyst reports since June 19, 2018 according to SRatingsIntel. As per Monday, October 8, the company rating was downgraded by William Blair. The firm earned “Neutral” rating on Wednesday, August 8 by Citigroup. Stephens maintained the shares of BECN in report on Wednesday, November 21 with “Buy” rating. The rating was downgraded by Wells Fargo to “Underperform” on Wednesday, August 8. As per Friday, August 10, the company rating was maintained by JP Morgan. The company was downgraded on Wednesday, November 28 by Longbow. The stock has “Neutral” rating by Robert W. Baird on Tuesday, October 2. Raymond James downgraded the shares of BECN in report on Tuesday, November 20 to “Outperform” rating. The rating was maintained by Wedbush on Wednesday, August 8 with “Outperform”. Wedbush maintained it with “Outperform” rating and $30 target in Tuesday, November 20 report.

The stock decreased 0.14% or $0.05 during the last trading session, reaching $34.86. About 1.16M shares traded. Beacon Roofing Supply, Inc. (NASDAQ:BECN) has declined 14.85% since December 2, 2017 and is downtrending. It has underperformed by 30.47% the S&P500.

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 $2.38 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. It has a 33.2 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: Benzinga.com which released: “8 Stocks To Watch For November 19, 2018 – Benzinga” on November 19, 2018, also Benzinga.com with their article: “26 Stocks Moving In Tuesday’s Pre-Market Session – Benzinga” published on November 20, 2018, Nasdaq.com published: “Why Beacon Roofing Supply Stock Tumbled 21% Today – Nasdaq” on May 09, 2018. More interesting news about Beacon Roofing Supply, Inc. (NASDAQ:BECN) were released by: Benzinga.com and their article: “Beacon Roofing Supply, Inc. (NASDAQ:BECN) – Q4 Earnings Preview For Beacon Roofing Supply – Benzinga” published on November 19, 2018 as well as Nasdaq.com‘s news article titled: “Market Trends Toward New Normal in Genomic Health, Beacon Roofing Supply, Cronos Group, Aimmune Therapeutics, OGE Energy, and Spartan Motors — Emerging Consolidated Expectations, Analyst Ratings – Nasdaq” with publication date: November 28, 2018.

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

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