Beacon Roofing Supply (NASDAQ:BECN) Was Downgraded From “Outperform” By RBC Capital.

June 29, 2018 - By Ricky Cave

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

During 2018 Q1 the big money sentiment decreased to 0.86. That’s change of 0.52, from 2017Q4’s 1.38. 36 investors sold all, 89 reduced holdings as Beacon Roofing Supply, Inc. ratio worsened. 71 increased holdings while 36 funds acquired holdings. Funds hold 63.59 million shares thus 1.89% less from 2017Q4’s 64.82 million shares.

Nomura Asset Mgmt Ltd holds 0.01% of its capital in Beacon Roofing Supply, Inc. (NASDAQ:BECN) for 19,660 shs. Weiss Multi owns 33,500 shs. State Of Wisconsin Inv Board owns 207,836 shs for 0.03% of their capital. Blair William & Il owns 0% invested in Beacon Roofing Supply, Inc. (NASDAQ:BECN) for 7,049 shs. Commonwealth Of Pennsylvania School Empls Retrmt Systems reported 5,617 shs. Rice Hall James And Ltd Llc holds 0.57% or 275,076 shs. Walleye Trading Limited Liability Corp accumulated 3,945 shs. Cap Fund has 122,600 shs for 0.04% of their capital. Vident Inv Advisory Ltd Liability Corporation reported 0.12% in Beacon Roofing Supply, Inc. (NASDAQ:BECN). Texas-based Utd Services Automobile Association has invested 0% in Beacon Roofing Supply, Inc. (NASDAQ:BECN). Dimensional Fund Advsrs Limited Partnership stated it has 0.06% of its capital in Beacon Roofing Supply, Inc. (NASDAQ:BECN). Nicholas Inv Prtnrs Limited Partnership invested 0.69% in Beacon Roofing Supply, Inc. (NASDAQ:BECN). Wells Fargo & Mn holds 510,731 shs. Fortaleza Asset Management Inc accumulated 3,825 shs or 1.23% of the stock. First Manhattan Company accumulated 307,808 shs or 0.09% of the stock.

Beacon Roofing Supply, Inc. had 0 selling transactions and 2 insider purchases since May 18, 2018. This’s net activity of $601,743. The insider FROST RICHARD W bought 11,820 shs worth $501,831.

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

Beacon Roofing Supply (NASDAQ:BECN)‘s rating change was announced by Equity research analysts at RBC Capital. On Thursday, 28 June they have downgraded BECN’s rating to “Sector Perform” from “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”. 60% are bullish. 15 are the (NASDAQ:BECN)’s analyst reports since January 3, 2018 according to StockzIntelligence Inc. The company rating was downgraded by Jefferies on Wednesday, May 9. The stock rating was maintained by Seaport Global with “Buy” on Thursday, January 4. On Friday, February 9 the firm earned “Buy” rating by RBC Capital Markets. In Tuesday, February 13 report Wedbush upgraded the stock to “Outperform” rating. The company rating was downgraded by RBC Capital Markets on Thursday, June 28. The stock rating was maintained by Jefferies with “Buy” on Wednesday, January 17. On Tuesday, June 19 the stock of Beacon Roofing Supply, Inc. (NASDAQ:BECN) has “Buy” rating given by Citigroup. In Monday, January 8 report Northcoast maintained the stock with “Buy” rating. On Wednesday, May 9 the firm has “Buy” rating given by Wedbush. On Friday, February 9 Citigroup maintained the shares of BECN in report with “Neutral” rating.

BECN reached $42.33 during the last trading session after $0.19 change.Currently Beacon Roofing Supply, Inc. is downtrending after 14.29% change in last June 29, 2017. BECN has 503,714 shares volume. BECN underperformed the S&P500 by 26.86%.

On August, 1 WallStreet awaited Beacon Roofing Supply, Inc. (NASDAQ:BECN)’s earnings release, RTT reports. Analysts predict $1.33 earnings per share, which is $0.49 up or 58.33 % from 2017’s $0.84 earnings per share. BECN’s profit could be $90.55M with 7.96 P/E in case $1.33 earnings per share is revealed. Wall Street now predicts -480.00 % EPS growth despite Beacon Roofing Supply, Inc. last quarter’s EPS of $-0.35.

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 worth $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 recently published by: Businesswire.com on June 28, 2018 with title “Beacon Roofing Supply Awarded Nationally Acclaimed Partners of Choice Award from David Weekley Homes”. The other Globenewswire.com‘s article was titled “Market Trends Toward New Normal in TPI Composites, Beacon Roofing Supply, Piper Jaffray Companies, SunCoke …” and published on June 22, 2018.

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

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