Has Beacon Roofing Supply (BECN) Outpaced Other Retail-Wholesale Stocks This Year?
The Retail-Wholesale group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Has Beacon Roofing Supply (BECN) been one of those stocks this year? A quick glance at the company's year-to-date performance in comparison to the rest of the Retail-Wholesale sector should help us answer this question.
Beacon Roofing Supply is a member of the Retail-Wholesale sector. This group includes 221 individual stocks and currently holds a Zacks Sector Rank of #8. The Zacks Sector Rank includes 16 different groups and is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors.
The Zacks Rank emphasizes earnings estimates and estimate revisions to find stocks with improving earnings outlooks. This system has a long record of success, and these stocks tend to be on track to beat the market over the next one to three months. Beacon Roofing Supply is currently sporting a Zacks Rank of #1 (Strong Buy).
Over the past three months, the Zacks Consensus Estimate for BECN's full-year earnings has moved 10.8% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
According to our latest data, BECN has moved about 60.2% on a year-to-date basis. Meanwhile, stocks in the Retail-Wholesale group have gained about 24.9% on average. As we can see, Beacon Roofing Supply is performing better than its sector in the calendar year.
Another Retail-Wholesale stock, which has outperformed the sector so far this year, is Solo Brands, Inc. (DTC). The stock has returned 47% year-to-date.
In Solo Brands, Inc.'s case, the consensus EPS estimate for the current year increased 22.6% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
Looking more specifically, Beacon Roofing Supply belongs to the Building Products - Retail industry, a group that includes 8 individual stocks and currently sits at #92 in the Zacks Industry Rank. Stocks in this group have gained about 19.6% so far this year, so BECN is performing better this group in terms of year-to-date returns.
In contrast, Solo Brands, Inc. falls under the Internet - Commerce industry. Currently, this industry has 42 stocks and is ranked #32. Since the beginning of the year, the industry has moved +50.7%.
Investors interested in the Retail-Wholesale sector may want to keep a close eye on Beacon Roofing Supply and Solo Brands, Inc. as they attempt to continue their solid performance.
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Beacon Roofing Supply, Inc. (BECN) : Free Stock Analysis Report
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