- Truist analyst Keith Hughes downgraded Beacon Roofing Supply, Inc. (NASDAQ:BECN) to Hold from Buy and lowered the price target to $58 (an upside of 11%), from $65.
- Hughes mentions that the company has benefited from substantial price/cost and management actions, including divestiture and debt paydown along with improving under-performing branches, but these benefits are set to subside in FY22, limiting upside to his FY22 EBITDA estimate.
- Hughes adds that the valuation on the stock is “slightly sub-average” at 8.8-times expected FY22 EBITDA, and he doesn’t see an expansion given the variability of residential roofing demand after a good year.
- Price Action: BECN shares are trading lower by 3.18% at $52.06 on the last check Monday.
Alphabet Q2 EPS $1.21 Misses $1.31 Estimate, Sales $69.98B Miss $70.35B Estimate
Alphabet (NASDAQ:GOOG) reported quarterly earnings of $1.21 per share which missed the analyst consensus estimate of $1.31 by 7.63 percent. This is a 11.03 percent decrease over earnings of $1.36 per share from the same
