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BECN

Beacon Roofing

$39.77

-0.19 (-0.48%)

14:21
07/16/18
07/16
14:21
07/16/18
14:21

Beacon Roofing acquires Atlas Supply

Beacon Roofing Supply announced that it has acquired Atlas Supply, the Pacific Northwest's leading distributor of sealants, coatings, adhesives and related waterproofing products. Founded in Seattle in 1917, Atlas has grown to six locations, with stores in Seattle, Tacoma, Spokane, and Mountlake Terrace in Washington, as well as locations in Portland, Oregon and Boise, Idaho.

BECN Beacon Roofing
$39.77

-0.19 (-0.48%)

07/12/18
WBLR
07/12/18
NO CHANGE
WBLR
Outperform
William Blair cautious into Beacon earnings after roofing survey
William Blair analyst Ryan Merkel says his firm's latest roofing survey was softer than expected for volumes and price/cost. The analyst lowered his 2018 earnings per share estimate for Beacon Roofing Supply to $3.05 and 2019 estimate to $4.21 and sees the company's fiscal Q3 earnings at $1.19, below the consensus at $1.33, due to lower sales and gross margin. While expectations are low, low-single-digit organic sales growth and negative price/cost of 40-60 basis points could cause shares to trade lower, Merkel tells investors in a pre-earnings research note. Ultimately, he believes a "softer 2018 is payback for a stellar roofing market in 2017." The analyst, however, does not think the core re-roofing market cycle is slowing and believes negative price/cost is temporary. While cautious into the Q3 earnings print, Merkel still sees upside in the stock to $47 using 10.5 times his 2019 adjusted EBITDA estimate. He keeps an Outperform rating on Beacon Roofing.
07/10/18
JEFF
07/10/18
NO CHANGE
JEFF
Buy
Roofing margin concerns overblown, says Jefferies
Jefferies analyst Philip Ng attributes the recent pullback in shares of Owens Corning (OC) and Beacon Roofing (BECN) to concerns over roofing margins with inflation rising. However, the analyst's roofing distributor survey indicates these concerns are overblown. Small and medium-sized distributors throughout the country have been able to realize 15% price increase cumulatively from March, May, and June, Ng tells investors in a research note. The analyst sees strong pricing momentum in roofing and insulation, but notes that roofing demand has been mixed. He keeps Buy ratings on Owens Corning, Beacon Roofing and TopBuild (BLD).
07/03/18
BARD
07/03/18
DOWNGRADE
BARD
Baird downgrades industrial and building distributors as cyclical risks rise
As previously reported, Baird analyst David Manthey downgraded several industrial supply distributors and building products distributors based on elevated later-cycle risks. The analyst thinks the cycle and individual company results could remain solid for quarters or years to come, but he believes the cycle is in its later stages, thereby elevating risks to gross margins, rising labor costs, and earnings deceleration in 2019. Manthey downgraded Watsco (WSO), SiteOne Landscape (SITE), Pool (POOL), Fastenal (FAST), BMC Stock Holdings (BMCH), Grainger (GWW) and GMS (GMS), all to Neutral from Outperform. He lowered his price target on Grainger to $318 from $327 and also lowered his price target on Beacon Roofing (BECN) to $59 from $68. However, Manthey said Beacon, on which he kept an Outperform rating, remains a Fresh Pick and his top tactical idea.
06/28/18
06/28/18
DOWNGRADE

On The Fly: Top five analyst downgrades
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. AeroVironment (AVAV) downgraded to Hold from Buy at Stifel with analyst Joseph DeNardi citing valuation, but he continues to maintain a positive bias on the stock. 2. Beacon Roofing (BECN) downgraded to Sector Perform from Outperform at RBC Capital with analyst Michael Eisen saying he sees a threat to consensus estimates based on the higher oil price and freight costs amid declining industry demand. 3. Green Plains (GPRE) downgraded to Equal Weight from Overweight at Stephens with analyst Farha Aslam stating that its restructuring plan is a long-term positive, but in the near-term the company may be "forced to cut muscle." 4. Mattel (MAT) downgraded to Underperform from Neutral at DA Davidson with analyst Linda Bolton Weiser noting that the stock price has risen 29% from its April low even though the company's fundamentals have not improved. 5. Aquinox (AQXP) downgraded to Hold from Buy at Needham with analyst Alan Carr noting that the company's Phase 3 trial of rosiptor in Interstitial Cyrstitis failed to demonstrate efficacy, with no evidence of activity at any point or within any subset of patient subset. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here

TODAY'S FREE FLY STORIES

SAIL

SailPoint

$24.30

-1.24 (-4.86%)

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ALB

Albemarle

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KORS

Michael Kors

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TPR

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AMZN

Amazon.com

$1,636.70

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Amazon.com launches 2nd GovCloud region in the U.S. »

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FHN

First Horizon

$16.09

-0.22 (-1.35%)

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TI

Telecom Italia

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0.09 (1.52%)

20:04
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Telecom Italia board to meet on Tuesday to consider CEO ouster, Bloomberg says »

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CVX

Chevron

$117.47

-2.065 (-1.73%)

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ConocoPhillips

$65.20

-1.54 (-2.31%)

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Exxon Mobil, Chevron, Conoco considering bid for Endeavor Energy, Bloomberg says »

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Chevron

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ConocoPhillips

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Exxon Mobil

$79.87

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RDS.A

Royal Dutch Shell

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ATTO

Atento

$5.96

0.075 (1.28%)

19:00
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Earnings
Atento reports Q3 recurring EPS 25c, consensus 20c »

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VKTX

Viking Therapeutics

$11.73

-0.605 (-4.91%)

18:57
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Viking Therapeutics says VK2809 study achieves primary, secondary endpoints »

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KEX

Kirby

$74.20

-1.83 (-2.41%)

18:31
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Kirby to acquire CGBM's inland tank barge fleet, terms not disclosed »

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HUYA

Huya

$18.50

-0.5 (-2.63%)

, MFIN

Medallion Financial

$6.80

-0.23 (-3.27%)

18:31
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Fly Intel: After Hours Movers »

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HUYA

Huya

$18.50

-0.5 (-2.63%)

MFIN

Medallion Financial

$6.80

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EB

Eventbrite

$30.90

-1.6 (-4.92%)

YRD

Yirendai

$15.47

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KRNT

Kornit Digital

$19.15

-0.88 (-4.39%)

MHLD

Maiden Holdings

$2.40

-1.12 (-31.82%)

SAGE

Sage Therapeutics

$121.50

-9.46 (-7.22%)

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OMAB

OMA Airports

$40.18

0.41 (1.03%)

18:18
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OMA Airports names Ricardo Duenas as new CEO »

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TEUM

Pareteum

$2.13

-0.09 (-4.05%)

, IPAS

iPass

$1.14

(0.00%)

18:03
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Pareteum to acquire iPass in all-stock transaction »

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iPass

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NINE

Nine Energy Services

$33.58

-1.6 (-4.55%)

18:01
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Earnings
Nine Energy Service reports Q3 EPS 56c, consensus 56c »

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TEUM

Pareteum

$2.13

-0.09 (-4.05%)

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iPass

$1.14

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18:00
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Hot Stocks
Breaking Hot Stocks news story on Pareteum, iPass »

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BMWYY

BMW

$0.00

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17:57
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BMW in talks to sell branded credit-card unit, Bloomberg says »

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NVDA

Nvidia

$189.37

-16.25 (-7.90%)

17:54
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GLD

SPDR Gold Trust

$113.66

-0.82 (-0.72%)

17:51
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SPDR Gold Trust holdings rise to 762.00MT from 755.23MT »

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TSLA

Tesla

$331.15

-19.54 (-5.57%)

17:45
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HUYA

Huya

$18.50

-0.5 (-2.63%)

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VLKAY

Volkswagen

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Daimler AG

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Trump close to auto tariffs in a move that may have 'massive' fallout, BI says »

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NSANY

Nissan

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TM

Toyota

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F

Ford

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HMC

Honda

$28.16

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GM

General Motors

$35.71

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FCAU

Fiat Chrysler

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MPVD

Mountain Province Diamonds

$1.42

-0.03 (-2.07%)

17:32
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Mountain Province Diamonds reports Q3 EPS 8c, one estimate 6c »

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HUYA

Huya

$18.50

-0.5 (-2.63%)

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YY

YY

$61.39

-3.34 (-5.16%)

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