Why Beacon Roofing Supply (BECN) is a Top Growth Stock for the Long-Term
For new and old investors, taking full advantage of the stock market and investing with confidence are common goals.
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 is a Zacks Rank #2 (Buy) stock, with a Growth Style Score of A and VGM Score of A. Earnings are expected to grow 8.2% year-over-year for the current fiscal year, with sales growth of 7.2%.
Nine analysts revised their earnings estimate higher in the last 60 days for fiscal 2023, while the Zacks Consensus Estimate has increased $0.66 to $7.43 per share. BECN also boasts an average earnings surprise of 11.1%.
Beacon Roofing Supply is also cash rich. The company has generated cash flow growth of 22.8%, and is expected to report cash flow expansion of 25.2% in 2023.
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
