Beacon Roofing Supply Stock (NASDAQ: BECN)

Beacon Roofing Supply Stock (NASDAQ:BECN), Trade Ideas

Beacon Roofing Supply

Beacon Roofing Supply Inc manufactures and sells roofing and building materials throughout the United States and Canada. Beacon's key customers consist of contractors, home builders, lumberyards, retailers, wholesale distributors, and building materials suppliers. The company's product portfolio includes both residential and non-residential roofing materials, siding, windows, and waterproofing systems. The majority of revenue is generated from residential and non-residential roofing products. The vast majority of Beacon's revenue comes from the United States.

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BECN

CENT

TSCO

Tractor Supply Company (NASDAQ: TSCO) is likely to register an increase in the top and bottom lines when it reports first-quarter 2024 results on Apr 25, before market open. The Zacks Consensus Estimate for revenues is pegged at $3.40 billion, indicating a 3% jump from the year-ago reported figure.


Here&#39;s How Tractor Supply Is Placed Before Q1 Earnings

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Analyst Ratings

RBC Capital analyst Mike Dahl upgraded Beacon Roofing Supply Inc (NASDAQ: BECN) from Sector Perform to Outperform at an 

This Beacon Roofing Analyst Sees The Stock Touching Roof On Strong Residential Market Fundamentals

Beacon Roofing Supply, Inc. - Common Stock

Beacon Roofing Supply Inc

Tractor Supply Company (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/tsco#NASDAQ">TSCO</a>) is likely to register an increase in the top and bottom lines when it reports first-quarter 2024 results on Apr 25, before market open. The Zacks Consensus Estimate for revenues is pegged at $3.40 billion, indicating a 3% jump from the year-ago reported figure. 
The bottom line of the largest rural lifestyle retailer in the United States is expected to have risen year over year. The Zacks Consensus Estimate for earnings per share for the first quarter has remained stable at $1.70 in the past 30 days, suggesting 3% growth from the year-ago period&#39;s reported figure. 
Tractor Supply has a trailing four-quarter earnings surprise of 0.5%, on average. In the last reported quarter, this Brentwood, TN-based company&#39;s earnings missed the Zacks Consensus Estimate by 2.6%.
<h3>Key Factors to Note</h3>
Tractor Supply has been experiencing momentum, driven by sturdy demand and strong market share gains. The company has been gaining from demand for its core merchandise, including consumable, usable and edible products. Its buyout of Orscheln Farm and Home, and store openings have been aiding its performance. The company has been benefiting from its Life Out Here Strategy and the Neighbor&#39;s Club membership program, which is likely to have driven its sales in the to-be-reported quarter. The strategy is essentially based on five key pillars: customers, digitization, execution, team members and total shareholder return. 
Tractor Supply has been focusing on its growth initiatives, which include the expansion of its store base and the incorporation of technological advancements to induce traffic and drive the top line. The company&#39;s Project Fusion and Side Lot model transformations have been significant investments toward stores. These store investments target achieving higher market share and boosting productivity across the existing and new stores. 
TSCO&#39;s &lsquo;ONETractor&#39; strategy, which is aimed at connecting stores and online shopping, appears encouraging too. Its omnichannel investments include curbside pickup, same-day and next-day delivery, a re-launched website and a new mobile app. The company&#39;s rebranding of Petsense by Tractor Supply and the expansion of its Neighbor&#39;s Club program to Petsense stores received positive customer feedback. This move is likely to have enabled it to gain pet customers for both banners. 
However, Tractor Supply has been grappling with higher depreciation and amortization costs, impacts of higher medical claims and inflationary pressures. Consequently, the company has been witnessing higher selling, general and administrative (SG&amp;A) expenses. Our model indicates a 3.6% rise in SG&amp;A expenses and a 50-bps increase in SG&amp;A expense rate on a year-over-year basis for the first quarter. Nonetheless, all the aforesaid strengths are likely to have boosted the company&#39;s performance in the first quarter.
<h3>What the Zacks Model Unveils</h3>
Our proven model conclusively predicts an earnings beat for Tractor Supply this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the chances of an earnings beat. You can uncover the best stocks to buy or sell before they&#39;re reported with our Earnings ESP Filter.
<div class="chart_embed">
<h3>Tractor Supply Company Price and EPS Surprise</h3>
<a href="https://www.zacks.com/stock/chart/TSCO/price-eps-surprise?icid=chart-TSCO-price-eps-surprise"><img alt="Tractor Supply Company Price and EPS Surprise" src="https://staticx-tuner.zacks.com/images/charts/a0/1713791837.png" style="height:263px; width:544px" title="" /> </a>
Tractor Supply Company price-eps-surprise | Tractor Supply Company Quote
</div>
Tractor Supply has an Earnings ESP of +0.50% and a Zacks Rank of 2 at present.
<h3>Other Stocks Poised to Beat Earnings Estimates</h3>
Here are a few more companies that have the right combination of elements to post an earnings beat: 
Central Garden &amp; Pet (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/cent#NASDAQ">CENT</a>) currently has an Earnings ESP of +4.32% and a Zacks Rank of 1. CENT is likely to register bottom-line growth when it reports second-quarter fiscal 2024 results. The Zacks Consensus Estimate for its quarterly revenues is pegged at $894.5 million, suggesting a 1.6% drop from the figure reported in the year-ago quarter. 
The consensus estimate for CENT&#39;s fiscal second-quarter earnings is pegged at 83 cents a share, up 15.3% from the year-ago quarter. The consensus mark has risen a couple of cents in the past 30 days. 
Chipotle Mexican Grill (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/cmg#NYSE">CMG</a>) currently has an Earnings ESP of +1.86% and a Zacks Rank of 3. The company is expected to register top and bottom-line growth when it reports first-quarter 2024 numbers. The Zacks Consensus Estimate for CMG&#39;s quarterly revenues is pegged at $2.67 billion, which implies growth of 12.8% from the year-ago quarter&#39;s reported figure. 
The consensus estimate for Chipotle&#39;s earnings has increased 0.4% to $11.56 per share in the past seven days. The consensus estimate for earnings suggests growth of 10.1% from the year-ago quarter&#39;s reported figure. CMG has delivered an earnings beat of 9.1%, on average, in the trailing four quarters. 
Beacon Roofing Supply (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/becn#NASDAQ">BECN</a>) has an Earnings ESP of +0.82% and a Zacks Rank of 3 at present. BECN is likely to register top-line growth when it reports first-quarter 2024 results. The Zacks Consensus Estimate for its quarterly revenues is pegged at $1.88 billion, suggesting 8.5% growth from the figure reported in the year-ago quarter. 
The consensus estimate for Beacon Roofing&#39;s first-quarter earnings is pegged at 35 cents per share, suggesting a 47.8% decline from the figure reported in the year-ago quarter. The consensus estimate for earnings has remained unchanged in the past 30 days. BECN has delivered an earnings beat of 10.3%, on average, in the trailing four quarters.
<a href="https://www.zacks.com/stock/news/2259361/here-s-how-tractor-supply-tsco-is-placed-before-q1-earnings?cid=CS-BENZ-FT-analyst_blog|earnings_preview-2259361">To read this article on Zacks.com click here.</a>

Here's How Tractor Supply Is Placed Before Q1 Earnings

<a href="https://cts.businesswire.com/ct/CT?id=smartlink&amp;url=https%3A%2F%2Fwww.becn.com%2F&amp;esheet=53943811&amp;newsitemid=20240422328918&amp;lan=en-US&amp;anchor=Beacon&amp;index=1&amp;md5=3527e6429d3d68f2ed7120915af985bc">Beacon</a> (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BECN#NASDAQ">BECN</a>) announced today the appointment of Prithvi (Prith) Gandhi as Executive Vice President and Chief Financial Officer. Mr. Gandhi will join Beacon on May 1, 2024, and assume his role as Chief Financial Officer on or about May 6, 2024.
This press release features multimedia. View the full release here: <a href="https://www.businesswire.com/news/home/20240422328918/en/">https://www.businesswire.com/news/home/20240422328918/en/</a>
Prior to joining Beacon, Mr. Gandhi was VP, Finance and Chief Financial Officer at TAMKO Building Products, a roofing products manufacturer and supplier for the last two years where he led initiatives that drove business insights and financial leverage resulting in improved operational performance. Prior to TAMKO, he served as Chief Financial Officer of Fast Radius, a 3D printing business that went public in 2022. Before joining Fast Radius, he worked for eight years at Owens Corning (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/OC#NYSE">OC</a>) serving in progressively more senior finance roles, including VP, FP&amp;A &amp; Corporate Strategy and VP, Corporate Development and culminating as Interim Chief Financial Officer. Earlier in his career, Mr. Gandhi held corporate strategy and development roles at Dover Corp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DOV#NYSE">DOV</a>) and Zebra Technologies Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ZBRA#NASDAQ">ZBRA</a>) and Morgan Stanley where he was VP, Proprietary Investments. Mr. Gandhi earned a bachelor's degree in mathematics and economics at the University of California-Berkeley, a master's degree in international economics at Georgetown University and a master's degree in business administration from the Wharton School of the University of Pennsylvania.
"I am very pleased to welcome Prith to the Beacon executive leadership team," said Julian Francis, President and CEO, Beacon. "Prith's strong growth orientation, extensive M&amp;A experience and capital markets expertise will strengthen Beacon as we complete Ambition 2025 and continue to grow above the market. His proven track record in financial leadership, particularly in the building products industry, will be invaluable as we continually improve service to customers in our two core markets, residential roofing, and commercial roofing."
Commenting on his appointment, Mr. Gandhi said, "It is an honor to join the highly experienced and successful leadership team at Beacon, a company that is recognized as a high-performing innovator in building products distribution. I am excited about the opportunity to work with Julian again following our collaboration at Owens Corning and am eager to drive Beacon's strategic plan forward to create value for all stakeholders."

Management

ZBRA

Beacon Appoints Prithvi Gandhi As Executive Vice President And Chief Financial Officer, Will Assume The Role On Or About May 6, 2024

U.S. stocks closed mixed on Friday, with the S&amp;P 500 falling for a sixth straight session. The index fell over 3% last week to record its worst weekly performance since March 2023. However, the Dow Jones index edged higher by 0.01% for the week.
Wall Street analysts make new stock picks on a daily basis. Unfortunately for investors, not all analysts have particularly impressive track records at predicting market movements. Even when it comes to one single stock, analyst ratings and price targets can vary widely, leaving investors confused about which analyst&#8217;s opinion to trust.
Benzinga&#8217;s Analyst Ratings API is a collection of the highest-quality stock ratings curated by the Benzinga news desk via direct partnerships with major sell-side banks. Benzinga displays overnight ratings changes on a daily basis three hours prior to the U.S. equity market opening. Data specialists at investment dashboard provider Toggle.ai recently uncovered that the analyst insights Benzinga Pro subscribers and Benzinga readers regularly receive can successfully be used as trading indicators to outperform the stock market.
Top Analyst Picks: Fortunately, any Benzinga reader can access the latest analyst ratings on the <a href="https://www.benzinga.com/analyst-ratings/analyst-color/22/09/28888638/exclusive-study-finds-benzinga-analyst-ratings-data-yields-market-beating-strategie">Analyst Stock Ratings</a> page. One of the ways traders can sort through Benzinga&#8217;s extensive database of analyst ratings is by analyst accuracy. Here&#8217;s a look at the most recent stock picks from each of the five most accurate Wall Street analysts, according to Benzinga <a href="https://www.benzinga.com/analyst-stock-ratings">Analyst Stock</a> Ratings.
Analyst: Jay McCanless
<ul>
<li>Analyst Firm: Wedbush</li>
<li>Ratings Accuracy: 86%</li>
<li>Latest Rating: Reiterated an Underperform rating on  &lt;b> D.R. Horton, Inc.&lt;/b> (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DHI#NYSE">DHI</a>) with a price target of $130 on April 18, 2024. This analyst sees around 9% downside in the stock.</li>
<li>Recent News: On April 18, D.R. Horton reported better-than-expected second-quarter financial results.</li>
</ul>
Analyst: Reuben Garner
<ul>
<li>Analyst Firm: Benchmark</li>
<li>Ratings Accuracy: 85%</li>
<li>Latest Rating: Initiated coverage on Beacon Roofing Supply, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BECN#NASDAQ">BECN</a>) with a Buy rating and a price target of $135 on April 18, 2024. This analyst sees around 43% upside in the stock.</li>
<li>Recent News: Beacon said it will release earnings results for the quarter ended March 31, 2024 after the closing bell on May 2, 2024.</li>
</ul>
Analyst: Matt Bryson
<ul>
<li>Analyst Firm: Wedbush</li>
<li>Ratings Accuracy: 85%</li>
<li>Latest Rating: Reiterated an Outperform rating on Advanced Micro Devices, Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMD#NASDAQ">AMD</a>) with a price target of $200 on April 17, 2024. This analyst sees over 37% upside in the stock.</li>
<li>Recent News: AMD recently announced the new AMD Ryzen PRO 8040 Series with x86 processors built for business laptops and mobile workstations, and the AMD Ryzen PRO 8000 Series desktop processor, the first AI-enabled desktop processor for business users constructed with the advanced 4-nanometer technology.</li>
</ul>
Analyst: Aaron Rakers
<ul>
<li>Analyst Firm: Wells Fargo</li>
<li>Ratings Accuracy: 84%</li>
<li>Latest Rating: Maintained an Equal-Weight rating on Hewlett Packard Enterprise Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HPE#NYSE">HPE</a>) and boosted the price target from $17 to $19 on April 17, 2024. This analyst sees about 14% gain in the stock.</li>
<li>Recent News: On Feb. 29, Hewlett Packard Enterprise reported worse-than-expected first-quarter revenue results and issued FY24 EPS guidance below estimates.</li>
</ul>
Analyst: Robert Mason
<ul>
<li>Analyst Firm: Baird</li>
<li>Ratings Accuracy: 84%</li>
<li>Latest Rating: Maintained an Outperform rating on Atmus Filtration Technologies Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ATMU#NYSE">ATMU</a>) and increased the price target from $29 to $37 on April 17, 2024. This analyst sees more than 20% upside in the stock.</li>
<li>Recent News: Atmus Filtration Technologies said it will report financial results for the first quarter 2024 before the opening bell on May 3, 2024.</li>
</ul>
Read More: <a href="http://AVI kapoor benzinga">Albertsons Companies, Nucor And 3 Stocks To Watch Heading Into Monday</a>

This Analyst With 85% Accuracy Rate Sees More Than 37% Upside In AMD - Here Are 5 Stock Picks For Last Week From Wall Street's Most Accurate Analysts

In the last three months, 4 analysts have published ratings on Beacon Roofing Supply (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BECN#NASDAQ">BECN</a>), offering a diverse range of perspectives from bullish to bearish.
The table below offers a condensed view of their recent ratings, showcasing the changing sentiments over the past 30 days and comparing them to the preceding months.
<table>
<thead>
<tr>
<th></th>
<th style="text-align: right;">Bullish</th>
<th style="text-align: right;">Somewhat Bullish</th>
<th style="text-align: right;">Indifferent</th>
<th style="text-align: right;">Somewhat Bearish</th>
<th style="text-align: right;">Bearish</th>
</tr>
</thead>
<tbody>
<tr>
<td>Total Ratings</td>
<td style="text-align: right;">2</td>
<td style="text-align: right;">2</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>Last 30D</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>1M Ago</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>2M Ago</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>3M Ago</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
</tbody>
</table>
Analysts have set 12-month price targets for Beacon Roofing Supply, revealing an average target of $121.25, a high estimate of $135.00, and a low estimate of $115.00. Marking an increase of 19.66%, the current average surpasses the previous average price target of $101.33. 
<img src="https://www.benzinga.com/files/images/story/2024/1713441632_0.png" alt="price target chart" />
<h2>Understanding Analyst Ratings: A Comprehensive Breakdown</h2>
The analysis of recent analyst actions sheds light on the perception of Beacon Roofing Supply by financial experts. The following summary presents key analysts, their recent evaluations, and adjustments to ratings and price targets.
<table>
<thead>
<tr>
<th>Analyst</th>
<th>Analyst Firm</th>
<th>Action Taken</th>
<th>Rating</th>
<th>Current Price Target</th>
<th>Prior Price Target</th>
</tr>
</thead>
<tbody>
<tr>
<td>Reuben Garner</td>
<td>Benchmark</td>
<td>Announces</td>
<td>Buy</td>
<td>$135.00</td>
<td>-</td>
</tr>
<tr>
<td>Ketan Mamtora</td>
<td>BMO Capital</td>
<td>Raises</td>
<td>Outperform</td>
<td>$120.00</td>
<td>$95.00</td>
</tr>
<tr>
<td>Garik Shmois</td>
<td>Loop Capital</td>
<td>Raises</td>
<td>Buy</td>
<td>$115.00</td>
<td>$110.00</td>
</tr>
<tr>
<td>David Manthey</td>
<td>Baird</td>
<td>Raises</td>
<td>Outperform</td>
<td>$115.00</td>
<td>$99.00</td>
</tr>
</tbody>
</table>
<h3>Key Insights:</h3>
<ul>
<li>Action Taken: Analysts respond to changes in market conditions and company performance, frequently updating their recommendations. Whether they 'Maintain', 'Raise' or 'Lower' their stance, it reflects their reaction to recent developments related to Beacon Roofing Supply. This information offers a snapshot of how analysts perceive the current state of the company.</li>
<li>Rating: Analysts assign qualitative assessments to stocks, ranging from 'Outperform' to 'Underperform'. These ratings convey the analysts' expectations for the relative performance of Beacon Roofing Supply compared to the broader market.</li>
<li>Price Targets: Analysts gauge the dynamics of price targets, providing estimates for the future value of Beacon Roofing Supply's stock. This comparison reveals trends in analysts' expectations over time.</li>
</ul>
Assessing these analyst evaluations alongside crucial financial indicators can provide a comprehensive overview of Beacon Roofing Supply's market position. Stay informed and make well-judged decisions with the assistance of our Ratings Table.
<a href="https://www.benzinga.com/quote/BECN/analyst-ratings?utm_source=Benzinga Insights">Stay up to date on Beacon Roofing Supply analyst ratings.</a>
<h2>About Beacon Roofing Supply</h2>
Beacon Roofing Supply Inc manufactures and sells roofing and building materials throughout the United States and Canada. Beacon's key customers consist of contractors, home builders, lumberyards, retailers, wholesale distributors, and building materials suppliers. The company's product portfolio includes both residential and non-residential roofing materials, siding, windows, and waterproofing systems. The majority of revenue is generated from residential and non-residential roofing products. The vast majority of Beacon's revenue comes from the United States.
<h3>A Deep Dive into Beacon Roofing Supply's Financials</h3>
Market Capitalization Analysis: Reflecting a smaller scale, the company's market capitalization is positioned below industry averages. This could be attributed to factors such as growth expectations or operational capacity.
Positive Revenue Trend: Examining Beacon Roofing Supply's financials over 3 months reveals a positive narrative. The company achieved a noteworthy revenue growth rate of 16.76% as of 31 December, 2023, showcasing a substantial increase in top-line earnings. As compared to competitors, the company surpassed expectations with a growth rate higher than the average among peers in the Industrials sector.
Net Margin: Beacon Roofing Supply's net margin lags behind industry averages, suggesting challenges in maintaining strong profitability. With a net margin of 4.14%, the company may face hurdles in effective cost management.
Return on Equity (ROE): Beacon Roofing Supply's ROE falls below industry averages, indicating challenges in efficiently using equity capital. With an ROE of 5.33%, the company may face hurdles in generating optimal returns for shareholders.
Return on Assets (ROA): The company's ROA is below industry benchmarks, signaling potential difficulties in efficiently utilizing assets. With an ROA of 1.49%, the company may need to address challenges in generating satisfactory returns from its assets.
Debt Management: With a below-average debt-to-equity ratio of 1.6, Beacon Roofing Supply adopts a prudent financial strategy, indicating a balanced approach to debt management.
<h2>What Are Analyst Ratings?</h2>
Ratings come from analysts, or specialists within banking and financial systems that report for specific stocks or defined sectors (typically once per quarter for each stock). Analysts usually derive their information from company conference calls and meetings, financial statements, and conversations with important insiders to reach their decisions.
Some analysts publish their predictions for metrics such as growth estimates, earnings, and revenue to provide additional guidance with their ratings. When using analyst ratings, it is important to keep in mind that stock and sector analysts are also human and are only offering their opinions to investors.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Where Beacon Roofing Supply Stands With Analysts

Benchmark analyst Reuben Garner initiates coverage on Beacon Roofing Supply (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BECN#NASDAQ">BECN</a>) with a Buy rating and announces Price Target of $135.

Initiation

Benchmark Initiates Coverage On Beacon Roofing Supply with Buy Rating, Announces Price Target of $135

Beacon Acquires General Siding Supply; Financial Terms Not Disclosed

Beacon Roofing Supply's (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BECN#NYSE">BECN</a>) short percent of float has fallen 10.7% since its last report. The company recently reported that it has 1.49 million shares sold short, which is 3.59% of all regular shares that are available for trading. Based on its trading volume, it would take traders 2.79 days to cover their short positions on average.
<h3>Why Short Interest Matters</h3>
Short interest is the number of shares that have been sold short but have not yet been covered or closed out. <a href="https://www.benzinga.com/money/how-to-short-a-stock/">Short selling</a> is when a trader sells shares of a company they do not own, with the hope that the price will fall. Traders make money from short selling if the price of the stock falls and they lose if it rises.
Short interest is important to track because it can act as an indicator of market sentiment towards a particular stock. An increase in short interest can signal that investors have become more bearish, while a decrease in short interest can signal they have become more bullish.
See Also: <a href="https://www.benzinga.com/short-interest">List of the most shorted stocks</a>
<h3>Beacon Roofing Supply Short Interest Graph (3 Months)</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1712847622_0.png" alt="short_fig" />
As you can see from the chart above the percentage of shares that are sold short for Beacon Roofing Supply has declined since its last report. This does not mean that the stock is going to rise in the near-term but traders should be aware that less shares are being shorted.
<h3>Comparing Beacon Roofing Supply's Short Interest Against Its Peers</h3>
Peer comparison is a popular technique amongst analysts and investors for gauging how well a company is performing. A company's peer is another company that has similar characteristics to it, such as industry, size, age, and financial structure. You can find a company's peer group by reading its 10-K, proxy filing, or by doing your own similarity analysis.
According to <a href="https://pro.benzinga.com/">Benzinga Pro</a>, Beacon Roofing Supply's peer group average for short interest as a percentage of float is 4.42%, which means the company has less short interest than most of its peers.
Did you know that increasing short interest can actually be bullish for a stock? <a href="https://www.benzinga.com/money/how-to-make-money-on-a-short-squeeze/">This post by Benzinga Money explains how you can profit from it.</a>
This article was generated by Benzinga's automated content engine and was reviewed by an editor.

Short Sellers

Short Ideas

Peering Into Beacon Roofing Supply's Recent Short Interest

BMO Capital analyst Ketan Mamtora maintains Beacon Roofing Supply (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BECN#NASDAQ">BECN</a>) with a Outperform and raises the price target from $95 to $120.

BMO Capital Maintains Outperform on Beacon Roofing Supply, Raises Price Target to $120

Branches in New Brunswick and Spring Lake Park now open to support building and roofing contractors
<a href="https://cts.businesswire.com/ct/CT?id=smartlink&amp;url=https%3A%2F%2Fwww.becn.com%2F&amp;esheet=53923408&amp;newsitemid=20240408454620&amp;lan=en-US&amp;anchor=Beacon&amp;index=1&amp;md5=e8151d1cb240d8d37df5afec4c79697a">Beacon</a> (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BECN#NASDAQ">BECN</a>), the only publicly traded specialty roofing distributor, announced today that it has opened new locations in Dieppe, New Brunswick, Canada and Spring Lake Park, Minnesota to serve residential and commercial roofing contractors.
The new branch in <a href="https://cts.businesswire.com/ct/CT?id=smartlink&amp;url=https%3A%2F%2Fwww.beacon-canada.com%2Fen%2F&amp;esheet=53923408&amp;newsitemid=20240408454620&amp;lan=en-US&amp;anchor=Dieppe%2C+New+Brunswick&amp;index=2&amp;md5=fd4bf37d8924f68a1c4e93cc0845dffc">Dieppe, New Brunswick</a> will serve the Atlantic Canada region. "We are pleased to add service in our seventh Canadian province. Construction is on an upswing in this market due to population growth and our branch is well positioned to provide a strong catalog of both residential and commercial roofing products. Contractors will appreciate our team's knowledge and service commitment to help them grow their businesses," commented Charles Michaud, Beacon's Regional Vice President, Canada.
The new branch in <a href="https://cts.businesswire.com/ct/CT?id=smartlink&amp;url=https%3A%2F%2Flocations.becn.com%2FMN%2FSpring-Lake-Park%2FSpring-Lake-Park-MN-55432-488%3Futm_source%3DWeb%26utm_medium%3DProfile%26utm_term%3Dna%26utm_content%3DResidential-Spring-Lake-Park-MN-1927%26utm_campaign%3DLocations&amp;esheet=53923408&amp;newsitemid=20240408454620&amp;lan=en-US&amp;anchor=Spring+Lake+Park%2C+Minnesota&amp;index=3&amp;md5=5f1bb67e9dac01a53c666eeefaefc617">Spring Lake Park, Minnesota</a> adds residential and commercial roofing and complementary products and services in the north Minneapolis metro market. "We are seeing construction trends in this attractive area that require the building materials and services that are our specialty. Contractors will appreciate our commitment to customer success, including the industry-leading Beacon PRO+ app for online ordering and delivery tracking," commented Brett Kinning, Beacon's Regional Vice President, Northern Plains.
Beacon has opened five new locations, completed two acquisitions adding seven branches, and signed a purchase agreement for a third acquisition to date in 2024. Footprint expansion is an important element of our <a href="https://cts.businesswire.com/ct/CT?id=smartlink&amp;url=https%3A%2F%2Fs24.q4cdn.com%2F883548305%2Ffiles%2Fdoc_earnings%2F2023%2Fq4%2Fpresentation%2FBeacon-2023-Q4-Earnings-Presentation-final.pdf&amp;esheet=53923408&amp;newsitemid=20240408454620&amp;lan=en-US&amp;anchor=Ambition+2025&amp;index=4&amp;md5=11db725f5eba125b61f14e3415738388">Ambition 2025</a> plan. We continue to deliver on our commitments to drive above-market growth to better serve customers. The company exceeded its Ambition 2025 revenue and shareholder return targets two years early and is advancing on achievement of its full plan.

Global

Beacon Adds Service In Atlantic Canada And Minneapolis Markets

Closing the contemplated transaction requires a majority vote of the plan's Participants giving the ESOP Trustee authorization to approve the sale.

Beacon Roofing Supply Signs Purchase Agreement To Acquire Smalley & Company; Financial Terms Not Disclosed

Loop Capital analyst Garik Shmois maintains Beacon Roofing Supply (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BECN#NASDAQ">BECN</a>) with a Buy and raises the price target from $110 to $115.

Loop Capital Maintains Buy on Beacon Roofing Supply, Raises Price Target to $115

Beacon Roofing Supply's (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BECN#NYSE">BECN</a>) short percent of float has fallen 10.22% since its last report. The company recently reported that it has 1.89 million shares sold short, which is 4.57% of all regular shares that are available for trading. Based on its trading volume, it would take traders 3.07 days to cover their short positions on average.
<h3>Why Short Interest Matters</h3>
Short interest is the number of shares that have been sold short but have not yet been covered or closed out. <a href="https://www.benzinga.com/money/how-to-short-a-stock/">Short selling</a> is when a trader sells shares of a company they do not own, with the hope that the price will fall. Traders make money from short selling if the price of the stock falls and they lose if it rises.
Short interest is important to track because it can act as an indicator of market sentiment towards a particular stock. An increase in short interest can signal that investors have become more bearish, while a decrease in short interest can signal they have become more bullish.
See Also: <a href="https://www.benzinga.com/short-interest">List of the most shorted stocks</a>
<h3>Beacon Roofing Supply Short Interest Graph (3 Months)</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1711374317_0.png" alt="short_fig" />
As you can see from the chart above the percentage of shares that are sold short for Beacon Roofing Supply has declined since its last report. This does not mean that the stock is going to rise in the near-term but traders should be aware that less shares are being shorted.
<h3>Comparing Beacon Roofing Supply's Short Interest Against Its Peers</h3>
Peer comparison is a popular technique amongst analysts and investors for gauging how well a company is performing. A company's peer is another company that has similar characteristics to it, such as industry, size, age, and financial structure. You can find a company's peer group by reading its 10-K, proxy filing, or by doing your own similarity analysis.
According to <a href="https://pro.benzinga.com/">Benzinga Pro</a>, Beacon Roofing Supply's peer group average for short interest as a percentage of float is 3.76%, which means the company has more short interest than most of its peers.
Did you know that increasing short interest can actually be bullish for a stock? <a href="https://www.benzinga.com/money/how-to-make-money-on-a-short-squeeze/">This post by Benzinga Money explains how you can profit from it.</a>
This article was generated by Benzinga's automated content engine and was reviewed by an editor.

(BECN) - Analyzing Beacon Roofing Supply's Short Interest

Beacon Roofing Supply's (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BECN#NYSE">BECN</a>) short percent of float has fallen 10.22% since its last report. The company recently reported that it has 1.89 million shares sold short, which is 4.57% of all regular shares that are available for trading. Based on its trading volume, it would take traders 3.07 days to cover their short positions on average.
<h3>Why Short Interest Matters</h3>
Short interest is the number of shares that have been sold short but have not yet been covered or closed out. <a href="https://www.benzinga.com/money/how-to-short-a-stock/">Short selling</a> is when a trader sells shares of a company they do not own, with the hope that the price will fall. Traders make money from short selling if the price of the stock falls and they lose if it rises.
Short interest is important to track because it can act as an indicator of market sentiment towards a particular stock. An increase in short interest can signal that investors have become more bearish, while a decrease in short interest can signal they have become more bullish.
See Also: <a href="https://www.benzinga.com/short-interest">List of the most shorted stocks</a>
<h3>Beacon Roofing Supply Short Interest Graph (3 Months)</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1709757010_0.png" alt="short_fig" />
As you can see from the chart above the percentage of shares that are sold short for Beacon Roofing Supply has declined since its last report. This does not mean that the stock is going to rise in the near-term but traders should be aware that less shares are being shorted.
<h3>Comparing Beacon Roofing Supply's Short Interest Against Its Peers</h3>
Peer comparison is a popular technique amongst analysts and investors for gauging how well a company is performing. A company's peer is another company that has similar characteristics to it, such as industry, size, age, and financial structure. You can find a company's peer group by reading its 10-K, proxy filing, or by doing your own similarity analysis.
According to <a href="https://pro.benzinga.com/">Benzinga Pro</a>, Beacon Roofing Supply's peer group average for short interest as a percentage of float is 4.48%, which means the company has more short interest than most of its peers.
Did you know that increasing short interest can actually be bullish for a stock? <a href="https://www.benzinga.com/money/how-to-make-money-on-a-short-squeeze/">This post by Benzinga Money explains how you can profit from it.</a>
This article was generated by Benzinga's automated content engine and was reviewed by an editor.

Beacon Roofing Supply (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BECN#NASDAQ">BECN</a>) has been analyzed by 4 analysts in the last three months, revealing a diverse range of perspectives from bullish to bearish.
The following table summarizes their recent ratings, shedding light on the changing sentiments within the past 30 days and comparing them to the preceding months.
<table>
<thead>
<tr>
<th></th>
<th style="text-align: right;">Bullish</th>
<th style="text-align: right;">Somewhat Bullish</th>
<th style="text-align: right;">Indifferent</th>
<th style="text-align: right;">Somewhat Bearish</th>
<th style="text-align: right;">Bearish</th>
</tr>
</thead>
<tbody>
<tr>
<td>Total Ratings</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">3</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>Last 30D</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>1M Ago</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>2M Ago</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>3M Ago</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
</tbody>
</table>
The 12-month price targets, analyzed by analysts, offer insights with an average target of $108.5, a high estimate of $119.00, and a low estimate of $97.00. This current average has increased by 7.69% from the previous average price target of $100.75. 
<img src="https://www.benzinga.com/files/images/story/2024/1709208034_0.png" alt="price target chart" />
<h2>Investigating Analyst Ratings: An Elaborate Study</h2>
The standing of Beacon Roofing Supply among financial experts is revealed through an in-depth exploration of recent analyst actions. The summary below outlines key analysts, their recent evaluations, and adjustments to ratings and price targets.
<table>
<thead>
<tr>
<th>Analyst</th>
<th>Analyst Firm</th>
<th>Action Taken</th>
<th>Rating</th>
<th>Current Price Target</th>
<th>Prior Price Target</th>
</tr>
</thead>
<tbody>
<tr>
<td>David Manthey</td>
<td>Baird</td>
<td>Raises</td>
<td>Outperform</td>
<td>$115.00</td>
<td>$99.00</td>
</tr>
<tr>
<td>Michael Rehaut</td>
<td>JP Morgan</td>
<td>Lowers</td>
<td>Overweight</td>
<td>$97.00</td>
<td>$103.00</td>
</tr>
<tr>
<td>Stanley Elliott</td>
<td>Stifel</td>
<td>Raises</td>
<td>Buy</td>
<td>$119.00</td>
<td>$115.00</td>
</tr>
<tr>
<td>Michael Rehaut</td>
<td>JP Morgan</td>
<td>Raises</td>
<td>Overweight</td>
<td>$103.00</td>
<td>$86.00</td>
</tr>
</tbody>
</table>
<h3>Key Insights:</h3>
<ul>
<li>Action Taken: Analysts frequently update their recommendations based on evolving market conditions and company performance. Whether they 'Maintain', 'Raise' or 'Lower' their stance, it reflects their reaction to recent developments related to Beacon Roofing Supply. This information provides a snapshot of how analysts perceive the current state of the company.</li>
<li>Rating: Delving into assessments, analysts assign qualitative values, from 'Outperform' to 'Underperform'. These ratings communicate expectations for the relative performance of Beacon Roofing Supply compared to the broader market.</li>
<li>Price Targets: Analysts explore the dynamics of price targets, providing estimates for the future value of Beacon Roofing Supply's stock. This examination reveals shifts in analysts' expectations over time.</li>
</ul>
Capture valuable insights into Beacon Roofing Supply's market standing by understanding these analyst evaluations alongside pertinent financial indicators. Stay informed and make strategic decisions with our Ratings Table.
<a href="https://www.benzinga.com/quote/BECN/analyst-ratings?utm_source=Benzinga Insights">Stay up to date on Beacon Roofing Supply analyst ratings.</a>
<h2>Unveiling the Story Behind Beacon Roofing Supply</h2>
Beacon Roofing Supply Inc manufactures and sells roofing and building materials throughout the United States and Canada. Beacon's key customers consist of contractors, home builders, lumberyards, retailers, wholesale distributors, and building materials suppliers. The company's product portfolio includes both residential and non-residential roofing materials, siding, windows, and waterproofing systems. The majority of revenue is generated from residential and non-residential roofing products. The vast majority of Beacon's revenue comes from the United States.
<h3>Financial Insights: Beacon Roofing Supply</h3>
Market Capitalization Analysis: Below industry benchmarks, the company's market capitalization reflects a smaller scale relative to peers. This could be attributed to factors such as growth expectations or operational capacity.
Revenue Growth: Beacon Roofing Supply's remarkable performance in 3 months is evident. As of 30 September, 2023, the company achieved an impressive revenue growth rate of 7.0%. This signifies a substantial increase in the company's top-line earnings. As compared to competitors, the company encountered difficulties, with a growth rate lower than the average among peers in the Industrials sector.
Net Margin: Beacon Roofing Supply's net margin falls below industry averages, indicating challenges in achieving strong profitability. With a net margin of -10.17%, the company may face hurdles in effective cost management.
Return on Equity (ROE): Beacon Roofing Supply's ROE is below industry averages, indicating potential challenges in efficiently utilizing equity capital. With an ROE of -13.93%, the company may face hurdles in achieving optimal financial returns.
Return on Assets (ROA): Beacon Roofing Supply's ROA is below industry averages, indicating potential challenges in efficiently utilizing assets. With an ROA of -4.03%, the company may face hurdles in achieving optimal financial returns.
Debt Management: Beacon Roofing Supply's debt-to-equity ratio is below the industry average. With a ratio of 1.73, the company relies less on debt financing, maintaining a healthier balance between debt and equity, which can be viewed positively by investors.
<h2>The Core of Analyst Ratings: What Every Investor Should Know</h2>
Analysts work in banking and financial systems and typically specialize in reporting for stocks or defined sectors. Analysts may attend company conference calls and meetings, research company financial statements, and communicate with insiders to publish "analyst ratings" for stocks. Analysts typically rate each stock once per quarter.
In addition to their assessments, some analysts extend their insights by offering predictions for key metrics such as earnings, revenue, and growth estimates. This supplementary information provides further guidance for traders. It is crucial to recognize that, despite their specialization, analysts are human and can only provide forecasts based on their beliefs.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Evaluating Beacon Roofing Supply: Insights From 4 Financial Analysts

Baird analyst David Manthey upgrades Beacon Roofing Supply (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BECN#NASDAQ">BECN</a>) from Neutral to Outperform and raises the price target from $99 to $115.

Baird Upgrades Beacon Roofing Supply to Outperform, Raises Price Target to $115

Beacon Roofing Supply (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BECN#NASDAQ">BECN</a>) reported its Q4 earnings results on Tuesday, February 27, 2024 at 04:00 PM.
Here's what investors need to know about the announcement.
<h3>Earnings</h3>
Beacon Roofing Supply beat estimated earnings by 4.0%, reporting an EPS of $1.72 versus an estimate of $1.66.
Revenue was up $331.00 million from the same period last year.
<h3>Past Earnings Performance</h3>
Last quarter the company beat on EPS by $0.24 which was followed by a 1.0% increase in the share price the next day.
Here's a look at Beacon Roofing Supply's past performance:

<table>
<thead>
<tr>
<th>Quarter</th>
<th>Q3 2023</th>
<th>Q2 2023</th>
<th>Q1 2023</th>
<th>Q4 2022</th>
</tr>
</thead>
<tbody>
<tr>
<td>EPS Estimate</td>
<td>2.61</td>
<td>2.27</td>
<td>0.62</td>
<td>1.21</td>
</tr>
<tr>
<td>EPS Actual</td>
<td>2.85</td>
<td>2.66</td>
<td>0.67</td>
<td>1.40</td>
</tr>
<tr>
<td>Revenue Estimate</td>
<td>2.59B</td>
<td>2.50B</td>
<td>1.79B</td>
<td>2.03B</td>
</tr>
<tr>
<td>Revenue Actual</td>
<td>2.58B</td>
<td>2.51B</td>
<td>1.73B</td>
<td>1.97B</td>
</tr>
</tbody>
</table>

To track all earnings releases for Beacon Roofing Supply <a href="https://www.benzinga.com/quote/BECN/earnings">visit their earnings calendar here.</a> 
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Recap: Beacon Roofing Supply Q4 Earnings

Beacon Roofing Supply (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BECN#NASDAQ">BECN</a>) reported quarterly earnings of $1.72 per share which beat the analyst consensus estimate of $1.66 by 3.61 percent. The company reported quarterly sales of $2.30 billion which beat the analyst consensus estimate of $2.26 billion by 1.57 percent. This is a 16.81 percent increase over sales of $1.97 billion the same period last year.

Earnings Beats

Beacon Roofing Supply Q4 2023 Adj EPS $1.72 Beats $1.66 Estimate, Sales $2.30B Beat $2.26B Estimate

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Earnings Scheduled For February 27, 2024

Beacon Roofing Supply's (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BECN#NYSE">BECN</a>) short percent of float has risen 26.93% since its last report. The company recently reported that it has 2.11 million shares sold short, which is 5.09% of all regular shares that are available for trading. Based on its trading volume, it would take traders 2.09 days to cover their short positions on average.
<h3>Why Short Interest Matters</h3>
Short interest is the number of shares that have been sold short but have not yet been covered or closed out. <a href="https://www.benzinga.com/money/how-to-short-a-stock/">Short selling</a> is when a trader sells shares of a company they do not own, with the hope that the price will fall. Traders make money from short selling if the price of the stock falls and they lose if it rises.
Short interest is important to track because it can act as an indicator of market sentiment towards a particular stock. An increase in short interest can signal that investors have become more bearish, while a decrease in short interest can signal they have become more bullish.
See Also: <a href="https://www.benzinga.com/short-interest">List of the most shorted stocks</a>
<h3>Beacon Roofing Supply Short Interest Graph (3 Months)</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1708093812_0.png" alt="short_fig" />
As you can see from the chart above the percentage of shares that are sold short for Beacon Roofing Supply has grown since its last report. This does not mean that the stock is going to fall in the near-term but traders should be aware that more shares are being shorted.
<h3>Comparing Beacon Roofing Supply's Short Interest Against Its Peers</h3>
Peer comparison is a popular technique amongst analysts and investors for gauging how well a company is performing. A company's peer is another company that has similar characteristics to it, such as industry, size, age, and financial structure. You can find a company's peer group by reading its 10-K, proxy filing, or by doing your own similarity analysis.
According to <a href="https://pro.benzinga.com/">Benzinga Pro</a>, Beacon Roofing Supply's peer group average for short interest as a percentage of float is 4.67%, which means the company has more short interest than most of its peers.
Did you know that increasing short interest can actually be bullish for a stock? <a href="https://www.benzinga.com/money/how-to-make-money-on-a-short-squeeze/">This post by Benzinga Money explains how you can profit from it.</a>
This article was generated by Benzinga's automated content engine and was reviewed by an editor.

Beacon announced today the pricing of the previously announced underwritten secondary public offering of 5,218,134 shares of Beacon&#39;s common stock by CD&amp;R Boulder Holdings, L.P., an entity affiliated with Clayton, Dubilier&nbsp;&amp; Rice, LLC. RBC Capital Markets is acting as the sole underwriter in the registered public offering of these shares. The offering is expected to close on&nbsp;January 22, 2024, subject to the satisfaction of customary closing conditions.

Beacon Prices Secondary Offering Of 5,218,134 Common Shares

Beacon Roofing Supply Inc (BECN) leads the Building Products and Equipment industry with an overall score of 83. BECN is up 54.66% so far this year after the company closed yesterday at $88.42.  The overall score measures the company's performance based-off both short and long term indicators and means that BECN scores bet

Is Beacon Roofing Supply Inc (BECN) a Winner in the Building Products & Equipment Industry?

Core & Main Pops Higher On Earnings, But Further Upside Is Unlikely

MSC Industrial Direct: A Downgrade After A Solid Run

Beacon Roofing Supply Inc (BECN) leads the Building Products and Equipment industry with an overall score of 84. BECN is up 67.10% so far this year after the company closed yesterday at $98.02.  The overall score measures the company's performance based-off both short and long term indicators and means that BECN scores bet

Is Beacon Roofing Supply Inc (BECN) The Right Choice in Building Products & Equipment?

Beacon announces opening of two new locations

Robert W. Baird analyst David Manthey has maintained their bullish stance on BECN stock, giving a Buy rating on April 1. David Manthey has given hi...

Buy Rating for Beacon Roofing Supply Amid Strong Growth and Positive Industry Outlook

Beacon completes acquisition of General Siding Supply

Beacon appoints Prithvi Gandhi as executive vice president and CFO

An announcement from Beacon Roofing Supply (BECN) is now available. The company has announced the appointment of Mr. Gandhi as the new Chief Financ...

Beacon Roofing Supply Welcomes New CFO, Eyes Strategic Shift

Most preferred stocks in industrial distribution and building products - Baird

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Press Releases

Beacon Reports Fourth Quarter and Full Year 2023 Results

Beacon Announces 1st Annual Supplier Partner Award Winners

Beacon Launches Fourth Annual Campaign Recognizing Female Roofing Professionals

Beacon Announces Three New Locations

Beacon Announces Agreement to Purchase Smalley & Company, a Regional Specialty Waterproofing Distributor

Beacon Adds Service in Atlantic Canada and Minneapolis Markets

Beacon Announces Acquisition of General Siding Supply

Beacon to Announce First Quarter 2024 Earnings on May 2, 2024

Beacon Appoints Prithvi Gandhi as Executive Vice President and Chief Financial Officer

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