Taking full advantage of the stock market and investing with confidence are common goals for new and old investors alike.
Achieving those goals is made easier with the Zacks Style Scores, a unique set of guidelines that rates stocks based on popular investing methodologies, namely value, growth, and momentum. The Style Scores can help you narrow down which stocks are better for your portfolio and which ones can beat the market over the long-term.
Why This 1 Growth Stock Should Be On Your Watchlist
For growth investors, a company’s financial strength, overall health, and future outlook take precedence, so they’ll want to zero in on the Growth Style Score. This Score examines things like projected and historical earnings, sales, and cash flow to find stocks that will generate 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, along with complementary building products in the United States and Canada. The company is one of the oldest and most recognized distributors in the industry. 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 #1 (Strong Buy) stock, with a Growth Style Score of B and VGM Score of A. Earnings are expected to grow 36.2% year-over-year for the current fiscal year, with sales growth of 23.5%.
Eight analysts revised their earnings estimate upwards in the last 60 days, and the Zacks Consensus Estimate has increased $1.23 to $6.58 per share for 2022. BECN boasts an average earnings surprise of 28.1%.
Looking at cash flow, Beacon Roofing Supply is expected to report cash flow growth of 62.7% this year; BECN has generated cash flow growth of 11.7% over the past three to five years.
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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Source: https://finance.yahoo.com/news/heres-why-beacon-roofing-supply-134501864.html