Beacon Roofing Supply, Inc. (BECN)
BECN Price and Sentiment
BECN Latest news
Stocks like Toll Brothers (TOL), Dream Finders Homes (DFH) and Beacon Roofing Supply (BECN) are expected to benefit from a rise in homebuilder sentiment.
If you are looking for stocks that have gained strong momentum recently but are still trading at reasonable prices, Beacon Roofing (BECN) could be a great choice. It is one of the several stocks that passed through our 'Fast-Paced Momentum at a Bargain' screen.
Although continuous supply and labor woes put pressure on affordability, six months' sales prospects and current traffic have given a boost to homebuilders' sentiment.
RBC Capital analyst Mike Dahl upgraded Beacon Roofing Supply, Inc. (NASDAQ:BECN) to Outperform from Sector Perform with an unchanged price target of $63. Dahl states that the stock now trades at 9.1-times his 2022 EBITDA of $598, which has gone up 3% from his prior estimate, adding that this multiple is 1-3 times below its recent highs and in line with its long-term average in spite of the company's improvements to margins and the balance sheet.
Beacon Roofing (BECN) benefits from demand in the residential housing market and focuses on enhancing digital platforms. However, coronavirus-related woes and stiff competition remain concerns.
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Beacon Roofing Supply, Inc. (NASDAQ: BECN) has opened two new branches to expand service to customers in the Houston, Texas, and North Port-Bradenton-Sarasota, Florida market areas. The company noted that the expansion displays its focus on investing resources in key markets as part of its organic growth strategic initiative.
HERNDON, Va.--(BUSINESS WIRE)--Beacon announces the opening of two new branches.
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