We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Beacon (BECN) Opens Three New Branches, Expands Footprint
Read MoreHide Full Article
Beacon Roofing Supply, Inc. (BECN - Free Report) continues to expand footprint, unveiling three new locations in Lebanon, NH, Elyria, OH and Roanoke, VA. These openings will serve residential contractors and lumberyards.
Nestled in Grafton County on the Vermont border, the new branch in Lebanon, NH introduces contractors to Beacon's exceptional customer service, product range and digital tools like Beacon PRO+. The branch in Elyria, OH, situated in Lorain County on the western side of town, strengthens support for customers in Cleveland by providing a convenient location that aligns with their needs.
In Roanoke, VA, the branch is situated along Interstate 81 and dedicated to serving lumberyard customers. Co-located with the Beacon exterior building products branch, this location optimizes inventory range and trucking routes, catering to the specific requirements of regional lumberyard customers.
Focus on Ambition 2025
The company focuses on its Ambition 2025 targets (announced on Feb 24, 2022), which emphasize operational excellence, above-market growth trajectory and accelerated stockholder value creation. The financial targets of Ambition 2025 project that sales will reach $9 billion (8% CAGR) and $1 billion of EBITDA (10% CAGR), which would translate into 11% EBITDA margins (up 100 basis points from 2021 levels).
As part of this initiative, Beacon has been focusing on business expansion through bolt-on acquisitions and divestitures. The company expanded its branch footprint through the completion of four acquisitions and the opening of 10 greenfields so far in 2023. ItThe company anticipates to open at least 15 new locations during the fiscal 2023 end, as part of its Ambition 2025 goals.
Price Performance
Image Source: Zacks Investment Research
Shares of Beacon — the largest distributor of residential and non-residential roofing materials in the United States and Canada — have surged 52.1% year to date compared with the industry’s 2.9% rise. The company is benefiting from solid expansion plans and digital initiatives.
Zacks Rank & Key Picks
Beacon Roofing Supply carries a Zacks Rank #3 (Hold).
The Zacks Consensus Estimate for PLAY’s 2023 sales and EPS indicates a rise of 17.1% and 25.5%, respectively, from the year-ago period’s levels.
Abercrombie & Fitch Co. (ANF - Free Report) carries a Zacks Rank #1. The company has a trailing four-quarter earnings surprise of 480.6%, on average. Shares of ANF have increased 98.1% in the past year.
The Zacks Consensus Estimate for ANF’s 2023 sales and EPS indicates a rise of 3.4% and 732%, respectively, from the year-ago period’s levels.
Chipotle Mexican Grill, Inc. (CMG - Free Report) carries a Zacks Rank #1. The company has a trailing four-quarter earnings surprise of 4.7%, on average. Shares of CMG have increased 60.3% in the past year.
The Zacks Consensus Estimate for CMG’s 2023 sales and EPS indicates a rise of 14.1% and 34.1%, respectively, from the year-ago period’s levels.
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
Beacon (BECN) Opens Three New Branches, Expands Footprint
Beacon Roofing Supply, Inc. (BECN - Free Report) continues to expand footprint, unveiling three new locations in Lebanon, NH, Elyria, OH and Roanoke, VA. These openings will serve residential contractors and lumberyards.
Nestled in Grafton County on the Vermont border, the new branch in Lebanon, NH introduces contractors to Beacon's exceptional customer service, product range and digital tools like Beacon PRO+. The branch in Elyria, OH, situated in Lorain County on the western side of town, strengthens support for customers in Cleveland by providing a convenient location that aligns with their needs.
In Roanoke, VA, the branch is situated along Interstate 81 and dedicated to serving lumberyard customers. Co-located with the Beacon exterior building products branch, this location optimizes inventory range and trucking routes, catering to the specific requirements of regional lumberyard customers.
Focus on Ambition 2025
The company focuses on its Ambition 2025 targets (announced on Feb 24, 2022), which emphasize operational excellence, above-market growth trajectory and accelerated stockholder value creation. The financial targets of Ambition 2025 project that sales will reach $9 billion (8% CAGR) and $1 billion of EBITDA (10% CAGR), which would translate into 11% EBITDA margins (up 100 basis points from 2021 levels).
As part of this initiative, Beacon has been focusing on business expansion through bolt-on acquisitions and divestitures. The company expanded its branch footprint through the completion of four acquisitions and the opening of 10 greenfields so far in 2023. ItThe company anticipates to open at least 15 new locations during the fiscal 2023 end, as part of its Ambition 2025 goals.
Price Performance
Image Source: Zacks Investment Research
Shares of Beacon — the largest distributor of residential and non-residential roofing materials in the United States and Canada — have surged 52.1% year to date compared with the industry’s 2.9% rise. The company is benefiting from solid expansion plans and digital initiatives.
Zacks Rank & Key Picks
Beacon Roofing Supply carries a Zacks Rank #3 (Hold).
Some better-ranked stocks from the Zacks Retail and Wholesale sector are:
Dave & Buster's Entertainment, Inc. (PLAY - Free Report) carries a Zacks Rank #1. PLAY has a trailing four-quarter earnings surprise of 6.8%, on average. Shares of PLAY have gained 27.5% in the past year. You can see the complete list of today’s Zacks #1 Rank stocks here.
The Zacks Consensus Estimate for PLAY’s 2023 sales and EPS indicates a rise of 17.1% and 25.5%, respectively, from the year-ago period’s levels.
Abercrombie & Fitch Co. (ANF - Free Report) carries a Zacks Rank #1. The company has a trailing four-quarter earnings surprise of 480.6%, on average. Shares of ANF have increased 98.1% in the past year.
The Zacks Consensus Estimate for ANF’s 2023 sales and EPS indicates a rise of 3.4% and 732%, respectively, from the year-ago period’s levels.
Chipotle Mexican Grill, Inc. (CMG - Free Report) carries a Zacks Rank #1. The company has a trailing four-quarter earnings surprise of 4.7%, on average. Shares of CMG have increased 60.3% in the past year.
The Zacks Consensus Estimate for CMG’s 2023 sales and EPS indicates a rise of 14.1% and 34.1%, respectively, from the year-ago period’s levels.