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Fly News Breaks for November 27, 2019
BECN
Nov 27, 2019 | 07:44 EDT
As previously reported, Raymond James analyst Samuel Darkatsh downgraded Beacon Roofing to Market Perform from Outperform following the company's Q4 report, stating that the "biggest disappointment" was its sequentially worse price/cost that led to gross margins at their lowest Q4 level in years. Beacon's inability to pass through price, or effectively measure real-time pricing, is concerning, said Darkatsh, who was not previously concerned about FY19 deterioration through Q3 but now is based on the miss on this "one key metric."
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