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Fly News Breaks for August 8, 2018
BECN
Aug 8, 2018 | 08:56 EDT
William Blair analyst Ryan Merkel recommends using the post-earnings selloff in shares of Beacon Roofing Supply as a buying opportunity. The analyst believes the company's Q2 miss was primarily weather-driven as "Beacon controlled what it could." Price/cost came in better than expected as the company and the industry are pushing price, Merkel tells investors in a post-earnings research note. He believes this "should calm investor fears about gross margin compress" and keeps an Outperform rating on the shares.
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