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BECN

Beacon Roofing

$33.37

-0.32 (-0.95%)

08:52
11/26/19
11/26
08:52
11/26/19
08:52

Beacon Roofing shares to decline 5%-10% this morning, says William Blair

William Blair analyst Ryan Merkel expects shares of Beacon Roofing Supply to to decline 5%-10% this morning after the company's fiscal Q4 earnings missed the Street by 14% and 2020 EBITDA estimates are coming down by 9%-10%. The analyst says that while management is hopeful that gross margin could rise by fiscal Q2, assuming no new inflation and improving demand, he's skeptical. With a flat market outlook for 2020, pricing will remain competitive Merkel tells investors in a research note. Beacon potentially has a nice margin expansion story ahead, but it could take a few quarters until we see tangible proof of progress, says the analyst. He keeps a Market Perform rating on the shares.

  • 11

    Dec

  • 18

    Dec

  • 19

    Dec

BECN Beacon Roofing
$33.37

-0.32 (-0.95%)

09/26/19
JPMS
09/26/19
DOWNGRADE
Target $29
JPMS
Underweight
JPMorgan calls Beacon Roofing expensive, downgrades shares to Underweight
JPMorgan analyst Michael Rehaut downgraded Beacon Roofing Supply to Underweight from Neutral with an unchanged $29 price target. Price/cost has worsened for the company, in contrast to most other building product companies, while its mix also remains a headwind, Rehaut tells investors in a research note. Increased competitive pressure due to softer sales stemming from adverse weather has driven a deterioration in Beacon's price cost spread, says the analyst, who also views the stock as expensive at current levels.
11/20/19
DBAB
11/20/19
INITIATION
Target $39
DBAB
Hold
Beacon Roofing initiated with a Hold at Deutsche Bank
Deutsche Bank initiated coverage of Beacon Roofing with a Hold rating and $39 price target.
11/26/19
WEDB
11/26/19
NO CHANGE
Target $29
WEDB
Neutral
Beacon Roofing price target lowered to $29 from $33 at Wedbush
Wedbush analyst Jay McCanless lowered his price target for Beacon Roofing Supply to $29 from $33 saying the company's fiscal Q4 sales and adjusted EBITDA missed his assumptions. Further, the company offered a "disappointing" Q1 outlook for gross margin and sales, McCanless tells investors in a research note. He believes Beacon's transformation to an organic growth company from an acquisition driven company, combined with a pending CFO change, represent operational risks for 2020 that investors did not expect ahead of last night's call. McCanless keeps a Neutral rating on the shares.
11/26/19
RHCO
11/26/19
NO CHANGE
Target $38
RHCO
Buy
Beacon Roofing price target lowered to $38 from $40 at SunTrust
SunTrust analyst Keith Hughes lowered his price target on Beacon Roofing to $38 after its Q4 results "substantially missed" for the 2nd consecutive quarter due to weak price/cost factors in the residential segment in spite of solid revenue growth. The analyst cites the management's view that it was difficult to pass high supplier cost pricing to consumer and also believes that the company's attractive pricing was used to pick up market share. Hughes still keeps his Buy rating on Beacon Roofing and views the quarter as "clearing the decks" under the new CEO, stating that the company's investment story remains that of an "operational and organic growth turnaround".

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LULU

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