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BECN

Beacon Roofing

$34.99

0.17 (0.49%)

10:19
01/15/20
01/15
10:19
01/15/20
10:19

Beacon Roofing sees $135M-$140M non-cash charge on brand change

As previously reported, Beacon announced that its 40 brands across the U.S. and Canada that sell exterior products will now be named Beacon Building Products. In connection with the rebranding, the company has determined that it will incur non-cash accelerated intangible asset amortization of approximately $135M-$140M related to the write-off of certain tradenames, primarily Allied, Roofing Supply Group and JGA. The accelerated amortization will be recognized in the company's fiscal quarter ending March 31, 2020. The physical rebranding of branch locations and equipment is expected to result in cash expenditures of approximately $5M, the company added in a regulatory filing.

  • 11

    Feb

BECN Beacon Roofing
$34.99

0.17 (0.49%)

01/06/20
LOOP
01/06/20
INITIATION
Target $37
LOOP
Buy
Beacon Roofing initiated with a Buy at Loop Capital
Loop Capital analyst Garik Shmois initiated coverage of Beacon Roofing Supply with a Buy rating and $37 price target.
01/07/20
NRCS
01/07/20
UPGRADE
Target $40
NRCS
Buy
Beacon Roofing upgraded to Buy from Neutral at Northcoast
Northcoast analyst Kevin Hocevar upgraded Beacon Roofing to Buy from Neutral with a $40 price target.
01/07/20
LOOP
01/07/20
INITIATION
Target $37
LOOP
Buy
Beacon Roofing initiated with a Buy at Loop Capital
Loop Capital analyst Garik Shmois initiated coverage of Beacon Roofing with a Buy rating and $37 price target. In a research note to investors, Shmois says Beacon Roofing is a show-me turnaround story, and that if gross and EBITDA margins show sequential stability in Q1 and y/y improvement in 2H20, he sees the upside potential in the stock as compelling especially given the relative underperformance over the last year versus his coverage universe due to challenges both self-inflicted and market inflicted. He believes that with a new management team, Beacon can gradually begin to return to sustained organic growth with some more focus on basic blocking and tackling, preserving market share through stronger customer engagement and tighter inventory and pricing controls.
01/14/20
BREN
01/14/20
INITIATION
Target $31
BREN
Hold
Beacon Roofing initiated with a Hold at Berenberg
Berenberg analyst Daniel Wang initiated coverage of Beacon Roofing with a Hold rating and $31 price target.

TODAY'S FREE FLY STORIES

SJM

J.M. Smucker

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-0.77 (-0.71%)

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MYGN

Myriad Genetics

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  • 13

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HSY

Hershey

$152.45

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  • 30

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DCPH

Deciphera

$66.79

0.2 (0.30%)

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BGS

B&G Foods

$16.25

0.195 (1.21%)

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CVGW

Calavo Growers

$80.49

0.23 (0.29%)

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LW

Lamb Weston

$91.19

0.01 (0.01%)

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  • 29

    Jan

FLO

Flowers Foods

$21.75

-0.27 (-1.23%)

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Initiation
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K

Kellogg

$70.25

-0.32 (-0.45%)

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  • 06

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GIS

General Mills

$53.97

-0.37 (-0.68%)

, WMT

Walmart

$116.10

0.53 (0.46%)

18:12
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Initiation
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GIS

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WMT

Walmart

$116.10

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K

Kellogg

$70.25

-0.32 (-0.45%)

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  • 06

    Feb

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    Feb

JJSF

J & J Snack Foods

$183.94

-0.28 (-0.15%)

18:07
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  • 28

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THS

TreeHouse

$46.83

-0.085 (-0.18%)

18:04
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  • 13

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HBM

Hudbay Minerals

$3.41

-0.12 (-3.40%)

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Upgrade
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  • 22

    Jan

TRQ

Turquoise Hill

$0.68

-0.0221 (-3.15%)

18:02
01/22/20
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Upgrade
Turquoise Hill rating change  »

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  • 22

    Jan

STLD

Steel Dynamics

$32.02

0.11 (0.34%)

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Earnings
Steel Dynamics CEO says company 'constructive' regarding NA steel market »

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  • 23

    Jan

STLD

Steel Dynamics

$32.02

0.11 (0.34%)

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Earnings
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  • 23

    Jan

SQ

Square

$68.74

0.42 (0.61%)

, BITCOIN

Bitcoin

$0.00

(0.00%)

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SQ

Square

$68.74

0.42 (0.61%)

BITCOIN

Bitcoin

$0.00

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GBTC

Bitcoin Investment Trust

$0.00

(0.00%)

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  • 26

    Feb

NVCR

Novocure

$94.80

-0.83 (-0.87%)

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NovoCure chairman sells 133,777 ordinary shares »

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  • 27

    Feb

KHC

Kraft Heinz

$30.65

-0.37 (-1.19%)

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SQ

Square

$68.74

0.42 (0.61%)

17:50
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Periodicals
Square wins U.S patent for crypto-to-fiat payments network, Coindesk says »

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  • 26

    Feb

QCRH

QCR Holdings

$41.92

0.13 (0.31%)

17:50
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  • 23

    Jan

CPB

Campbell Soup

$48.56

-0.01 (-0.02%)

17:48
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Initiation
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CAG

Conagra Brands

$32.29

-0.475 (-1.45%)

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Initiation
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  • 17

    Feb

AMZN

Amazon.com

$1,887.32

-4.96 (-0.26%)

17:43
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Periodicals
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  • 27

    Jan

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    Jan

  • 10

    Feb

BYND

Beyond Meat

$122.48

-6.76 (-5.23%)

17:43
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Initiation
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