Beacon Roofing Supply, Inc. (NASDAQ:BECN) reported its Q4 results last week, with EPS coming in at $1.53, beating the consensus estimate of $1.50. However, the company’s shares have declined around 10% in the last two weeks as the company begins lapping significantly tougher volume/margin comps. Nevertheless, these headwinds were already well flagged, and management effectively assuaged any concerns of sharp margin reversal next year. Moreover, given residential shingles manufacturers are experiencing significant asphalt inflation, the analysts at Berenberg Bank think that additional vendor price announcements will take place next year.