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Beacon (BECN) on an Expansion Spree, Debuts in Two Locations
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Since the announcement of the Ambition 2025 plan on Feb 24, 2022, Beacon Roofing Supply, Inc. (BECN - Free Report) has been intently focusing on seeking and capturing opportunities to fulfill the stated targets and foster its growth along the way. One of the primary strategies under the Ambition 2025 plan includes footprint expansion, through which it can offer diversified products to its customers, add shareholder value and increase its productivity in new and existing markets.
In alignment with this geographic footprint expansion strategy, Beacon recently announced its expansion into two new locations comprising Attleboro, MA and Mississauga, Ontario, Canada.
The newly opened branch in Attleboro will expand residential and commercial roofing along with complementary products and services into the Providence, Rhode Island metro and the southeastern Massachusetts markets. On the other hand, the new branch in Mississauga will offer similar services to the Greater Toronto Area.
Ambition 2025 Targets – Growth Driver
Beacon has been intently focusing on several strategic initiatives to drive its long-term ambition of growing and enhancing customer experience, expanding its top line and margin, and boosting value for customers, suppliers, employees and shareholders. To add value to the aforementioned expectations, the company is currently focusing on delivering the expected targets summed up through the Ambition 2025 plan.
To achieve its Ambition 2025 targets, Beacon has been focusing on expansion through bolt-on acquisitions and divestitures along with new branch locations. On May 1, 2024, the company announced the acquisition of Smalley & Company, which is expected to enhance its rapidly growing nationwide waterproofing platform. This strategic transaction adds 11 new locations across Colorado, Arizona, California, Nevada, New Mexico and Utah to BECN’s portfolio, thus expanding its footprint. Furthermore, in the trailing 12 months, ended on Mar 31, 2024, the company acquired 21 branches and opened 28 new locations.
Image Source: Zacks Investment Research
Shares of this publicly traded distributor of residential and non-residential roofing materials have increased 11.7% in the year-to-date period against the Zacks Building Products - Retail industry’s 4.3% decline. The company’s focus on organic and inorganic growth initiatives is aiding its uptrend.
Zacks Rank & Key Picks
Beacon currently carries a Zacks Rank #3 (Hold).
Here are some better-ranked stocks from the Zacks Retail-Wholesale sector.
ANF has a trailing four-quarter earnings surprise of 715.6%, on average. The stock has hiked 401.4% in the past year. The consensus estimate for ANF’s fiscal 2024 sales and earnings per share (EPS) indicates a 6.4% and a 24.2% rise, respectively, from the year-ago period’s levels.
Wingstop Inc. (WING - Free Report) currently sports a Zacks Rank of 1. WING has a trailing four-quarter earnings surprise of 21.4%, on average. The stock has risen 91.2% in the past year.
The Zacks Consensus Estimate for WING’s 2024 sales and EPS suggests growth of 27.5% and 36.7%, respectively, from the year-ago period’s levels.
The Gap, Inc. (GPS - Free Report) currently sports a Zacks Rank of 1. GPS has a trailing four-quarter earnings surprise of 180.9%, on average. The stock has surged 151.5% in the past year.
The Zacks Consensus Estimate for GPS’ fiscal 2024 sales and EPS suggests a decline of 0.3% and 3.5%, respectively, from the year-ago period’s levels.
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Beacon (BECN) on an Expansion Spree, Debuts in Two Locations
Since the announcement of the Ambition 2025 plan on Feb 24, 2022, Beacon Roofing Supply, Inc. (BECN - Free Report) has been intently focusing on seeking and capturing opportunities to fulfill the stated targets and foster its growth along the way. One of the primary strategies under the Ambition 2025 plan includes footprint expansion, through which it can offer diversified products to its customers, add shareholder value and increase its productivity in new and existing markets.
In alignment with this geographic footprint expansion strategy, Beacon recently announced its expansion into two new locations comprising Attleboro, MA and Mississauga, Ontario, Canada.
The newly opened branch in Attleboro will expand residential and commercial roofing along with complementary products and services into the Providence, Rhode Island metro and the southeastern Massachusetts markets. On the other hand, the new branch in Mississauga will offer similar services to the Greater Toronto Area.
Ambition 2025 Targets – Growth Driver
Beacon has been intently focusing on several strategic initiatives to drive its long-term ambition of growing and enhancing customer experience, expanding its top line and margin, and boosting value for customers, suppliers, employees and shareholders. To add value to the aforementioned expectations, the company is currently focusing on delivering the expected targets summed up through the Ambition 2025 plan.
To achieve its Ambition 2025 targets, Beacon has been focusing on expansion through bolt-on acquisitions and divestitures along with new branch locations. On May 1, 2024, the company announced the acquisition of Smalley & Company, which is expected to enhance its rapidly growing nationwide waterproofing platform. This strategic transaction adds 11 new locations across Colorado, Arizona, California, Nevada, New Mexico and Utah to BECN’s portfolio, thus expanding its footprint. Furthermore, in the trailing 12 months, ended on Mar 31, 2024, the company acquired 21 branches and opened 28 new locations.
Image Source: Zacks Investment Research
Shares of this publicly traded distributor of residential and non-residential roofing materials have increased 11.7% in the year-to-date period against the Zacks Building Products - Retail industry’s 4.3% decline. The company’s focus on organic and inorganic growth initiatives is aiding its uptrend.
Zacks Rank & Key Picks
Beacon currently carries a Zacks Rank #3 (Hold).
Here are some better-ranked stocks from the Zacks Retail-Wholesale sector.
Abercrombie & Fitch Co. (ANF - Free Report) currently sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks Rank #1 stocks here.
ANF has a trailing four-quarter earnings surprise of 715.6%, on average. The stock has hiked 401.4% in the past year. The consensus estimate for ANF’s fiscal 2024 sales and earnings per share (EPS) indicates a 6.4% and a 24.2% rise, respectively, from the year-ago period’s levels.
Wingstop Inc. (WING - Free Report) currently sports a Zacks Rank of 1. WING has a trailing four-quarter earnings surprise of 21.4%, on average. The stock has risen 91.2% in the past year.
The Zacks Consensus Estimate for WING’s 2024 sales and EPS suggests growth of 27.5% and 36.7%, respectively, from the year-ago period’s levels.
The Gap, Inc. (GPS - Free Report) currently sports a Zacks Rank of 1. GPS has a trailing four-quarter earnings surprise of 180.9%, on average. The stock has surged 151.5% in the past year.
The Zacks Consensus Estimate for GPS’ fiscal 2024 sales and EPS suggests a decline of 0.3% and 3.5%, respectively, from the year-ago period’s levels.