Stifel Nicolaus Raises Price Target for Beacon Roofing Supply to $91.00
December 24, 2022
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Beacon Roofing Supply ($NASDAQ:BECN) is a leading distributor of residential and commercial roofing materials, including shingles, metal, tile, and related accessories. The company serves contractors and professional builders by providing a wide range of roofing materials and supplies at competitive prices. Recently, Stifel Nicolaus has increased their price target for Beacon Roofing Supply to $91.00. According to Stifel Nicolaus analyst Robert Wetenhall, this new price target reflects recent strong results and the potential for continued growth. Beacon Roofing Supply’s stock has been trending up since the news broke. Analysts are optimistic about the company’s prospects, and believe that the stock could continue to rise as the company continues to execute its growth plans.
Beacon Roofing Supply has been growing rapidly in recent years, with acquisitions and organic growth driving their expansion. The company has made several strategic acquisitions in the past year, further strengthening their market position and expanding their product offering. The company is well-positioned for future growth, and analysts believe that their current valuation does not accurately reflect their potential. It will be interesting to see how the stock performs in the coming weeks and months.
Price History
The news has so far been mostly positive, with investors showing enthusiasm for the stock. On Tuesday, Beacon Roofing Supply opened at $55.9 and closed at $55.0, down by 1.7% from the last closing price of 56.0. The stock has seen a steady increase in its value since its initial public offering, and this news could potentially lead to an even higher price target in the future. Investors who have been following the company’s progress may see this as an opportunity to invest further in the stock, as the potential upside remains strong. Beacon Roofing Supply has been seeing increased demand for their products in recent months, with more consumers opting for their services than ever before.
The company has been able to capitalize on this demand by expanding their offerings and increasing their production capabilities. This has helped them to gain a larger share of the market and remain competitive with other roofing suppliers. The company’s stock could potentially reach new highs as more investors recognize its potential and start to invest in the company. As long as the demand for its services continues to rise, Beacon Roofing Supply will likely continue to see positive returns on its investments. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for BECN. More…
| Total Revenues | Net Income | Net Margin |
| 6.82k | 219 | 4.4% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for BECN. More…
| Operations | Investing | Financing |
| 166.7 | 716.4 | -1.12k |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for BECN. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 5.85k | 3.7k | 31.22 |
Key Ratios Snapshot
Some of the financial key ratios for BECN are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| -0.9% | 36.3% | 6.0% |
| FCF Margin | ROE | ROA |
| 1.4% | 11.7% | 4.6% |
VI Analysis
Company fundamentals provide an important insight into its long-term potential and the VI app provides a simple analysis of the same. The VI Star Chart for BEACON ROOFING SUPPLY reveals it to be strong in growth and medium in asset, profitability, and dividend. BEACON ROOFING SUPPLY is classified as an ‘elephant’ company, meaning it has a large asset base after deducting off liabilities. Investors who are interested in such companies may be those looking for capital appreciation, income generation or a combination of both. The company’s Health Score of 8/10 with regard to its cashflows and debt shows that it is capable of sustaining future operations in times of crisis. Therefore, investors who are looking for a steady return or capital appreciation can consider investing in BEACON ROOFING SUPPLY. The company’s fundamentals suggest that it has the potential to yield good returns in the long run. More…
VI Peers
Beacon Roofing Supply Inc is one of the largest roofing distributors in North America. The company has more than 500 locations across the United States and Canada. The company was founded in 1928 and is headquartered in Herndon, Virginia. Beacon Roofing Supply Inc’s main competitors are BlueLinx Holdings Inc, Jiangsu Canlon Building Materials Co Ltd, and Armstrong Flooring Inc.
– BlueLinx Holdings Inc ($NYSE:BXC)
BlueLinx Holdings Inc is a holding company. Through its subsidiaries, the Company is engaged in the distribution of building and industrial products in North America. It offers its products to customers in the United States and Canada. The Company’s segments include Wholesale and Retail. The Wholesale segment is engaged in selling, marketing and distribution of building products to lumber yards, building material suppliers, professional lumber dealers and industrial users primarily in the United States. The Retail segment is engaged in selling, marketing and distribution of building products to lumber yards, building material suppliers and professional lumber dealers in Canada.
– Jiangsu Canlon Building Materials Co Ltd ($SZSE:300715)
Jiangsu Canlon Building Materials Co Ltd is a Chinese company that produces building materials. The company has a market cap of 5.15B as of 2022 and a Return on Equity of -0.94%. The company’s products include windows, doors, curtain walls, and sunrooms.
Summary
Beacon Roofing Supply is a leading distributor of residential and commercial roofing materials in the United States with operations in Canada and the United Kingdom. The company offers a wide range of products, including asphalt shingles, slate and tile roofing, metal roofing, gutters, ventilation products, and other building materials to both residential and commercial customers. Beacon Roofing Supply’s stock has been on a tear over the last year, as the company has been able to capitalize on favorable industry trends and strong demand for its products. With Stifel Nicolaus raising its price target to $91.00, investors are becoming increasingly bullish on the company’s prospects. The company’s strong financial performance, robust product offerings, and continued global expansion should continue to buoy its stock price. Investors looking for exposure to Beacon Roofing Supply may do so through an exchange traded fund (ETF) that tracks the company’s stock. The ETF provides investors with diversified exposure to the company’s stock without having to purchase individual shares of the company. Investors should also consider buying shares of Beacon Roofing Supply directly. This allows investors to benefit from any potential appreciation in the stock price as well as any dividend payments that the company may make.
In addition, investors can also set up dividend reinvestment plans that allow them to take advantage of compounding returns over time. With Stifel Nicolaus raising its price target to $91.00, investors should consider taking a closer look at the company and potentially adding it to their portfolios.
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