Why This 1 Growth Stock Could Be a Great Addition to Your Portfolio
Taking full advantage of the stock market and investing with confidence are common goals for new and old investors alike.
Many investors also have a go-to methodology that helps guide their buy and sell decisions. One way to find winning stocks based on your preferred way of investing is to use the Zacks Style Scores, which are indicators that rate stocks based on three widely-followed investing types: value, growth, and momentum.
Why This 1 Growth Stock Should Be On Your Watchlist
Growth investors build their portfolios around companies that are financially strong and have a bright future, and the Growth Style Score helps take projected and historical earnings, sales, and cash flow into account to uncover stocks that will see long-term, sustainable growth.
Beacon Roofing Supply (BECN)
Incorporated on Aug 22, 1997, Beacon Roofing Supply is the largest publicly-traded distributor of residential and non-residential roofing materials, along with complementary building products in the United States and Canada. The company is one of the oldest and most recognized distributors in the industry. Beacon purchases products from a large number of manufacturers and then distributes these goods to customers including contractors, home builders, retailers as well as building materials suppliers.
BECN boasts a Growth Style Score of A and VGM Score of A, and holds a Zacks Rank #3 (Hold) rating. Its bottom-line is projected to rise 43.7% year-over-year for 2022, while Wall Street anticipates its top line to improve by 25.4%.
Eight analysts revised their earnings estimate upwards in the last 60 days for fiscal 2022. The Zacks Consensus Estimate has increased $0.32 to $6.94 per share. BECN boasts an average earnings surprise of 23.3%.
On a historic basis, Beacon Roofing Supply has generated cash flow growth of 11.7%, and is expected to report cash flow expansion of 62.7% this year.
With solid fundamentals, a good Zacks Rank, and top-tier Growth and VGM Style Scores, BECN should be on investors' short lists.
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Beacon Roofing Supply, Inc. (BECN) : Free Stock Analysis Report
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