William Blair analyst Ryan Merkel has maintained their neutral stance on BECN stock, giving a Hold rating on April 1.
Ryan Merkel’s rating is based on a combination of factors influencing Beacon Roofing Supply’s performance. The company’s first-quarter roofing survey showed a decline of 3% year-over-year, with residential roofing volumes down by 5% despite a 2% price increase. Nonresidential volumes also fell by 3%, with prices slightly decreasing. However, March saw a significant recovery with double-digit volume increases, which helped offset the sluggish performance in January and February.
Despite the challenges, April’s performance appears promising, with residential pricing up by 3% and positive realization on recent OEM price increases. Additionally, concerns over tariffs have not yet impacted consumer spending, maintaining a “business as usual” environment. These mixed signals, with both positive and negative trends, contribute to the Hold rating, as the stock’s potential is balanced by existing uncertainties.
Merkel covers the Industrials sector, focusing on stocks such as Aaon, Beacon Roofing Supply, and Fastenal Company. According to TipRanks, Merkel has an average return of 8.1% and a 55.56% success rate on recommended stocks.
In another report released on April 1, RBC Capital also downgraded the stock to a Hold with a $124.35 price target.