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DALLAS, Oct. 1, 2013 /PRNewswire/ --Roofing Supply Group, LLC ("RSG"), a national leader in the wholesale distribution of roofing supplies and related materials, announced today that it has opened a new location in Jacksonville, FL. This branch will service the Greater Northeast Florida area, including the communities of Jacksonville, St. Augustine, and Lake City, as well as the Southeastern portions of Georgia.
This location is the 19th branch in the Southeast Region under the direction of Tim Perryman, Regional Senior Vice President.
Perryman said, "We are very excited to continue our expansion efforts in the Southeast Region with the opening of our fourth location so far this year. One of RSG's top talents, Kevin Crawford, is our Branch Manager in Jacksonville and is he is building an exceptional team that shares his passion for the roofing industry and commitment to providing outstanding service and quality products to local roofing contractors, remodelers and homebuilders. We look forward to making noteworthy contributions to the economic growth of the community here in the greater Jacksonville area."
The opening of this latest branch in the Jacksonville area aligns strategically with RSG's overall expansion initiative which includes organic growth, opening of new locations and planned acquisitions.
About Roofing Supply GroupOwned by parent company Clayton, Dubilier & Rice, LLC, Roofing Supply Group, LLC ("RSG") is headquartered in Dallas, Texas, and is one of the largest wholesale distributors of roofing supplies and related materials in the United States. Through its network of 66 locations in 24 states nationwide, RSG provides one-step distribution services from roofing product manufacturers to roofing contractors and homebuilders. Each branch carries a complete line of roofing products for residential and commercial roofing, including composition asphalt shingles, underlayment and associated ancillary products. For more information regarding Greenfields & Acquisitions, please contact Jeff Clay at jclay@rsgroof.com | 214.956.5184 VP Strategic Planning & Corporate Development.
About Clayton, Dubilier & RiceFounded in 1978, Clayton, Dubilier & Rice is a private equity firm with an investment strategy predicated on producing financial returns through building stronger, more profitable businesses. The Firm's partners and advisors include a combination of skilled investment decision-makers and seasoned corporate leaders from major global enterprises. Since inception, CD&R has managed the investment of more than $18 billion in 56 businesses with an aggregate transaction value of approximately $90 billion. The Firm has offices in New York and London. For more information, please visit http://www.cdr-inc.com.
Chicago, IL October 2, 2013 Zacks Equity Research highlights Herbalife (HLF-Free Report) as the Bull of the Day and Beacon Roofing (BECN-Free Report) as the Bear of the Day. In addition, Zacks Equity Research provides analysis on the Astellas Pharma, Inc. (ALPMY-Free Report), Pfizer Inc. (PFE-Free Report) and Merck & Co, Inc. (MRK-Free Report).
Here is a synopsis of all five stocks:
Bull of the Day:
Herbalife (HLF-Free Report) the subject of a lot of controversy but it is also a Zacks Rank #1 (Strong Buy).
Herbalife has topped the Zacks Consensus Estimate in each of the last 28 quarters which is a pretty unique accomplishment.
The last two beats were $0.20 and $0.22 -- but put in better perspective when you look at the percentage surprise. The March 2013 quarter came in 18.7% ahead of expectations and the June 2013 quarter was 18.5% ahead of analysts estimates. Those are some pretty big beats.
Herbalife is a network marketing company that sells weight management, nutritional supplements, energy, sports and fitness, and personal care products worldwide. Herbalife offers its products through retail stores, sales representatives, sales officers, and independent service providers. The company was founded in 1980 and is based in Grand Cayman, the Cayman Islands.
In a mid-December 2011 conference, Bill Ackman disclosed that he is short approximately 20 million shares of Herbalife. The total short interest as of the end of December was approximately 37 million shares. Ackman asserts that the company is nothing short of a pyramid scheme and will end up at $0.00. To further substantiate this claim, Ackman needs the FTC to investigate the company and despite recent rumors and Freedom of Information Acts, there has been no such investigation. Bear of the Day: Beacon Roofing (BECN-Free Report) has seen estimates for 2013 and 2014 fall recently. A recent downgrade has pushed the Zacks Rank to the lowest level. BECN is a Zacks Rank #5 (Strong Sell). It is the Bear of the Day.
The stock fell a significant amount the other day due to a downgrade from Robert W. Baird. The investment firm lowered their rating on the stock to Neutral from Outperform and took their target down to $39 from $42 based on lower estimates. Lowered estimates are a key reason stocks become Zacks Rank #5 (Strong Sell).
Beacon Roofing Supply, Inc. distributes residential and non-residential roofing materials to contractors, home builders, building owners, and other resellers. As of August 9, 2013, it operated through a network of 231 branches in 38 states of the United States, and Canada. Beacon Roofing Supply, Inc. was founded in 1928 and is based in Peabody, Massachusetts.
Original post:
Herbalife, Beacon Roofing, Astellas Pharma, Pfizer and Merck & Co highlighted as Zacks Bull and Bear of the Day
Beacon Roofing (BECN) has seen estimates for 2013 and 2014 fall recently. A recent downgrade has pushed the Zacks Rank to the lowest level. BECN is a Zacks Rank #5 (Strong Sell). It is the Bear of the Day.
Recent Downgrade
The stock fell a significant amount the other day due to a downgrade from Robert W. Baird. The investment firm lowered their rating on the stock to Neutral from Outperform and took their target down to $39 from $42 based on lower estimates. Lowered estimates are a key reason stocks become Zacks Rank #5 (Strong Sell).
Company Description
Beacon Roofing Supply, Inc. distributes residential and non-residential roofing materials to contractors, home builders, building owners, and other resellers. As of August 9, 2013, it operated through a network of 231 branches in 38 states of the United States, and Canada. Beacon Roofing Supply, Inc. was founded in 1928 and is based in Peabody, Massachusetts.
Earnings History
BECN has hit a rough patch in what is a spotty-to-good earnings history. The last three reports have all come in under the Zacks Consensus Estimate, with the most recent miss being the biggest in quite a while. The company reported earnings of $0.55 vs. the $0.71 estimate, for a miss of $0.16 or 22% below expectations. On that earnings release the company also lowered guidance, further reducing expectations for the future.
Over the last 5 quarters, the topline has been challenged as well. While still posting year over year growth in the last two quarters, the company has not been able to beat the Zacks Consensus revenue estimate since the March 2012 quarter.
Earnings Estimates Slip
Estimates for BECN have been sliding of late. Starting in April, the 2013 Zacks Consensus Estimate was $1.87, but that soon fell to $1.80 the following month. Estimates dropped to $1.79 in July and are now at $1.55.
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Bear of the Day: Beacon Roofing (BECN)
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Petaluma, CA (PRWEB) October 01, 2013
Heritage Homes of Petaluma kicked off their 2013 Preservation Award Ceremony Sept. 15 at the Petaluma Masonic Center. Among this years honorees was the historically authentic roof restoration completed by San Francisco Bay Area roofing contractor, Wedge Roofing, on an 89-year-old Craftsman Bungalow home in Petaluma.
Ralph Wedge, president of Wedge Roofing, accepted the 2013 Preservation Award on behalf of homeowners Tiffany and Zack Matley. Presenting the award, Alicia Walters, Board Member of Heritage Homes, outlined the details of the Bungalows historic roof restoration, noting the delicate balance of functionality and aesthetic appeal that earned the home its Honorable Mention award.
While many awards went to large-scale renovations spanning all aspects of these Petaluma buildings, the Craftsman Bungalows Honorable Mention Award singled out perhaps the most vital component in long-term structural preservation: the roofing system, as the roof is considered not only one of the most prominent visual aspects of a historic site but also the most important defense against moisture, the leading cause of structural damage.
Wedge Roofings portfolio of historical roof restoration projects include buildings in San Francisco, Marin County, Sonoma County and Napa Valley designated as historic landmarks by the National Register of Historical Places, California Register of Historic Resources and Heritage Homes of Petaluma.
Every two years, Heritage Homes presents awards to Preservation Heroes, owners of residential and commercial buildings whose restoration projects serve to preserve Petaluma's unique architectural and historic heritage. Founded in 1967, the non-profit, architectural preservation organization encourages the restoration of vintage Petaluma buildings that have historic, architectural or cultural significance.
Heritage Homes of Petaluma closed the event with a reminder that historic sites are part of the fabric that defines Petaluma, and hoped the event would raise awareness of the importance of preserving historical structures. Next up for the organization is their annual Holiday Parlor Tour of historic homes in Petaluma. For more information, please visit Heritage Homes of Petaluma or call 707-762-3456.
About Wedge Roofing: Founded in 1976, Wedge Roofing offers a wide range of roofing solutions for residential, commercial and industrial clients throughout the San Francisco Bay Area. Wedge Roofing is a full-service licensed roofing, insulation and general contractor (License # 416737) bonded and insured with an A+ BBB rating. For more information, please visit Wedge Roofing or call (888) 763-7663.
Excerpt from:
San Francisco Bay Area Roofing Contractor Recognized for Historical Roof Restoration
HERNDON, Va.--(BUSINESS WIRE)--
Beacon Roofing Supply, Inc. (the Company) (BECN) announced today the relocation of its corporate headquarters from Peabody, Massachusetts to its existing Herndon, Virginia corporate offices located at 505 Huntmar Park Drive, Suite 300, Herndon, Virginia, 20170.
Paul Isabella, the Companys President & Chief Executive Officer, stated: We are pleased to announce the relocation of our corporate headquarters to our existing corporate offices in Herndon, Virginia. The recent move of our Companys finance department from our Peabody, Massachusetts corporate offices to Herndon, Virginia under the leadership of our new CFO Joe Nowicki made todays start of our 2014 Fiscal Year the perfect time formally to relocate our headquarters to our Herndon, Virginia offices. Having Beacons finance team join our human resources, information technology, legal, and sales and marketing team leaders in Herndon, Virginia for the first time will allow us to provide even more effective support for our operating regions through more efficient communication and improved team building, exchange of ideas and personal interaction. This is a small but important step in executing our long-term growth plan.
Beacon Roofing Supply, Inc. is a leading distributor of roofing materials and complementary building products, operating 236 branches located in 39 states in the United States and six provinces in Canada. The Companys fiscal year 2012 sales exceeded $2.0 billion.
Forward-Looking Statements:This release contains information about management's view of the Company's future expectations, plans and prospects that constitute forward-looking statements for purposes of the safe harbor provisions under the Private Securities Litigation Reform Act of 1995. Actual results may differ materially from those indicated by such forward-looking statements as a result of various important factors, including, but not limited to, those set forth in the "Risk Factors" section of the Company's latest Form 10-K. In addition, the forward-looking statements included in this press release represent the Company's views as of the date of this press release and these views could change. However, while the Company may elect to update these forward-looking statements at some point, the Company specifically disclaims any obligation to do so, other than as required by federal securities laws. These forward-looking statements should not be relied upon as representing the Company's views as of any date subsequent to the date of this press release.
BECN-F
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Beacon Roofing Supply Designates its Herndon, Virginia Corporate Offices as its Corporate Headquarters
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