What Can We Expect After Beacon Roofing Supply (NASDAQ:BECN)’s Downgrade By KeyBanc?

August 10, 2018 - By Mona Holcomb

Beacon Roofing Supply, Inc. (NASDAQ:BECN) Logo

Investors sentiment decreased to 0.86 in 2018 Q1. Its down 0.52, from 1.38 in 2017Q4. It dropped, as 36 investors sold Beacon Roofing Supply, Inc. shares while 89 reduced holdings. 36 funds opened positions while 71 raised stakes. 63.59 million shares or 1.89% less from 64.82 million shares in 2017Q4 were reported.

Credit Suisse Ag accumulated 82,399 shares or 0% of the stock. Howe And Rusling Inc reported 61 shares. Basswood Cap Mngmt Ltd Liability Com stated it has 0.81% of its portfolio in Beacon Roofing Supply, Inc. (NASDAQ:BECN). Moreover, Indexiq Limited Liability Co has 0.06% invested in Beacon Roofing Supply, Inc. (NASDAQ:BECN). Personal Cap Advsrs Corp holds 33,604 shares. Dekabank Deutsche Girozentrale holds 0.01% in Beacon Roofing Supply, Inc. (NASDAQ:BECN) or 14,560 shares. Nomura Asset Ltd has 0.01% invested in Beacon Roofing Supply, Inc. (NASDAQ:BECN) for 19,660 shares. Diligent Investors Limited Liability Corporation holds 0.25% of its portfolio in Beacon Roofing Supply, Inc. (NASDAQ:BECN) for 7,727 shares. Hood River Lc owns 349,930 shares for 1.04% of their portfolio. Moreover, Captrust Financial has 0% invested in Beacon Roofing Supply, Inc. (NASDAQ:BECN) for 817 shares. Stone Ridge Asset Management Limited Liability Com accumulated 21,774 shares or 0.07% of the stock. Mark Sheptoff Planning Lc reported 7,050 shares. Waddell Reed Fincl reported 0.14% of its portfolio in Beacon Roofing Supply, Inc. (NASDAQ:BECN). Advisory Research has invested 0.02% in Beacon Roofing Supply, Inc. (NASDAQ:BECN). Fiera Cap invested in 0.03% or 109,430 shares.

Since May 18, 2018, it had 2 insider purchases, and 0 selling transactions for $601,743 activity. FROST RICHARD W bought 11,820 shares worth $501,831.

Beacon Roofing Supply (NASDAQ:BECN) Receives a Downgrade

KeyBanc has given Beacon Roofing Supply (NASDAQ:BECN) shares a new Sector Weight rating in a research note sent to investors on Friday morning. This was a downgrade from the old Overweight rating.

Beacon Roofing Supply, Inc. (NASDAQ:BECN) Ratings Coverage

Among 10 analysts covering Beacon Roofing Supply (NASDAQ:BECN), 4 have Buy rating, 1 Sell and 5 Hold. Therefore 40% are positive. Beacon Roofing Supply has $6500 highest and $44 lowest target. $54.80’s average target is 48.19% above currents $36.98 stock price. Beacon Roofing Supply had 13 analyst reports since February 13, 2018 according to SRatingsIntel. The stock of Beacon Roofing Supply, Inc. (NASDAQ:BECN) earned “Neutral” rating by JP Morgan on Thursday, May 10. On Friday, July 20 the stock rating was upgraded by Stephens to “Overweight”. The firm has “Buy” rating given on Wednesday, May 9 by Wedbush. The rating was maintained by Wedbush on Wednesday, August 8 with “Outperform”. Wedbush upgraded Beacon Roofing Supply, Inc. (NASDAQ:BECN) on Tuesday, February 13 to “Outperform” rating. The firm has “Sector Perform” rating given on Thursday, June 28 by RBC Capital Markets. The firm has “Hold” rating given on Wednesday, May 9 by Jefferies. The firm has “Underperform” rating given on Wednesday, August 8 by Wells Fargo. The rating was reinitiated by Citigroup with “Buy” on Tuesday, June 19. The rating was downgraded by Northcoast to “Hold” on Monday, May 14.

The stock decreased 3.29% or $1.26 during the last trading session, reaching $36.98. About 1.64 million shares traded or 23.52% up from the average. Beacon Roofing Supply, Inc. (NASDAQ:BECN) has declined 14.29% since August 11, 2017 and is downtrending. It has underperformed by 26.86% the S&P500.

Beacon Roofing Supply, Inc., together with its subsidiaries, distributes residential and non-residential roofing materials, and other complementary building materials to contractors, home builders, retailers, and building materials suppliers. The company has market cap of $2.52 billion. The companyÂ’s residential roofing products include asphalt shingles, synthetic slates and tiles, clay and concrete tiles, slates, nail base insulations, metal roofing, felts, synthetic underlayment, wood shingles and shakes, nails and fasteners, metal edgings and flashings, prefabricated flashings, ridges and soffit vents, and other accessories. It has a 28.23 P/E ratio. The Company’s non-residential roofing products comprise single-ply roofing, asphalt, metal, modified bitumen, and build-up roofing products; cements and coatings; flat stock and tapered insulations; commercial fasteners; metal edges and flashings; smoke/roof hatches; roofing tools; sheet metal products, including copper, aluminum, and steel; and PVC, thermoplastic olefin, and ethylene propylene diene monomer membrane products.

More notable recent Beacon Roofing Supply, Inc. (NASDAQ:BECN) news were published by: Benzinga.com which released: “Benzinga’s Top Upgrades, Downgrades For August 8, 2018” on August 08, 2018, also Streetinsider.com with their article: “After-Hours Stock Movers 08/07: (AAOI) (DDD) (MTCH) Higher; (AMPE) (BECN) (CUTR) Lower (more…)” published on August 07, 2018, 247Wallst.com published: “Top Analyst Upgrades and Downgrades: AECOM, CyberArk, Dillard’s, Hasbro, Mattel, Newell, Papa John’s, Shopify …” on August 08, 2018. More interesting news about Beacon Roofing Supply, Inc. (NASDAQ:BECN) were released by: Benzinga.com and their article: “40 Stocks Moving In Wednesday’s Pre-Market Session” published on August 08, 2018 as well as 247Wallst.com‘s news article titled: “Top Analyst Upgrades and Downgrades: AMD, ADT, BP, Campbell Soup, Funko, Intel, Overstock.com, Perrigo and More” with publication date: August 10, 2018.

Beacon Roofing Supply, Inc. (NASDAQ:BECN) Institutional Positions Chart

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