It doesn’t matter your age or experience: taking full advantage of the stock market and investing with confidence are common goals for all investors.
Many investors also have a go-to methodology that helps guide their buy and sell decisions. One way to find winning stocks based on your preferred way of investing is to use the Zacks Style Scores, which are indicators that rate stocks based on three widely-followed investing types: value, growth, and momentum.
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 boasts a Growth Style Score of A and VGM Score of A, and holds a Zacks Rank #3 (Hold) rating. Its bottom-line is projected to rise 9.5% year-over-year for 2023, while Wall Street anticipates its top line to improve by 8%.
Six analysts revised their earnings estimate higher in the last 60 days for fiscal 2023, while the Zacks Consensus Estimate has increased $0.15 to $7.52 per share. BECN also boasts an average earnings surprise of 11.1%.
Looking at cash flow, Beacon Roofing Supply is expected to report cash flow growth of 25.2% this year; BECN has generated cash flow growth of 22.8% over the past three to five years.
Story continues
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
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Zacks Investment Research
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