Why Beacon Roofing Supply (BECN) is a Top Growth Stock for the Long-Term
Taking full advantage of the stock market and investing with confidence are common goals for new and old investors alike.
While you may have an investing style you rely on, finding great stocks is made easier with the Zacks Style Scores. These are complementary indicators that rate stocks based on value, growth, and/or momentum characteristics.
Why This 1 Growth Stock Should Be On Your Watchlist
Different than value or momentum investors, growth-oriented investors are concerned with a stock's future prospects, and the overall financial health and strength of a company. Thus, they'll want to focus on the Growth Style Score, which analyzes characteristics like projected and historical earnings, sales, and cash flow to find stocks that will see sustainable growth over time.
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 and complementary building products in the United States and Canada. The company is one of the industry's oldest and most recognized distributors. 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 9.5% year-over-year for 2023, while Wall Street anticipates its top line to improve by 7.9%.
Four analysts revised their earnings estimate upwards in the last 60 days for fiscal 2023. The Zacks Consensus Estimate has increased $0.02 to $7.52 per share. BECN boasts an average earnings surprise of 11.1%.
On a historic basis, Beacon Roofing Supply has generated cash flow growth of 22.8%, and is expected to report cash flow expansion of 25.2% 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
