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Beacon (BECN) Expands in California by Acquiring Roofers Mart
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Beacon Roofing Supply, Inc. (BECN - Free Report) boosts its commercial roofing product offering by acquiring Roofers Mart of Southern California, Inc., situated in Walnut, CA.
Roofers Mart has been serving roofing contractors in the Los Angeles metro market for the past 40 years. Leveraging the market reach of Roofers Mart will enable Beacon to broaden its Los Angeles Beacon OTC Network service area.
The company is optimistic about this strategic buyout and holds onto the synergies the buyout will bring to its business expansion initiatives. Moreover, this acquisition aligns with BECN’s Ambition 2025 plan, advancing it further to achieve the target.
Beacon’s Ambition 2025 Plan
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.
Ambition 2025 targets encompass Beacon’s focus on expansion through bolt-on acquisitions and new branch locations. Year to date, the company has already made seven acquisitions, which aided its geographic footprint expansion and moved it toward achieving its Ambition 2025 targets. On Jul 1, 2024, it announced the acquisition of Extreme Metal Fabricators, LLC and Integrity Metals, LLC, which will expand its metal roofing product offering and expand its market reach in Florida. On May 1, 2024, the company announced the acquisition of Smalley & Company, which will likely enhance its rapidly growing nationwide waterproofing platform.
Image Source: Zacks Investment Research
Shares of this publicly traded distributor of residential and non-residential roofing materials have gained 8.7% in the year-to-date period against the Zacks Building Products - Retail industry’s 1.5% 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 210.3%, on average. The stock has surged 394.5% in the past year. The Zacks Consensus Estimate for ANF’s fiscal 2024 sales and earnings per share (EPS) indicates growth of 10.4% and 47.3%, respectively, from the year-ago period’s levels.
Walmart Inc. (WMT - Free Report) currently sports a Zacks Rank of 1. WMT has a trailing four-quarter earnings surprise of 8.3%, on average. The stock has risen 34.7% in the past year.
The consensus estimate for WMT’s fiscal 2024 sales and EPS indicates growth of 4.3% and 9.5%, 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 202.7%, on average. The stock has gained 151.6% in the past year.
The Zacks Consensus Estimate for GPS’ fiscal 2024 sales and EPS indicates a rise of 0.2% and 21.7%, respectively, from the year-ago period’s levels.
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Beacon (BECN) Expands in California by Acquiring Roofers Mart
Beacon Roofing Supply, Inc. (BECN - Free Report) boosts its commercial roofing product offering by acquiring Roofers Mart of Southern California, Inc., situated in Walnut, CA.
Roofers Mart has been serving roofing contractors in the Los Angeles metro market for the past 40 years. Leveraging the market reach of Roofers Mart will enable Beacon to broaden its Los Angeles Beacon OTC Network service area.
The company is optimistic about this strategic buyout and holds onto the synergies the buyout will bring to its business expansion initiatives. Moreover, this acquisition aligns with BECN’s Ambition 2025 plan, advancing it further to achieve the target.
Beacon’s Ambition 2025 Plan
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.
Ambition 2025 targets encompass Beacon’s focus on expansion through bolt-on acquisitions and new branch locations. Year to date, the company has already made seven acquisitions, which aided its geographic footprint expansion and moved it toward achieving its Ambition 2025 targets. On Jul 1, 2024, it announced the acquisition of Extreme Metal Fabricators, LLC and Integrity Metals, LLC, which will expand its metal roofing product offering and expand its market reach in Florida. On May 1, 2024, the company announced the acquisition of Smalley & Company, which will likely enhance its rapidly growing nationwide waterproofing platform.
Image Source: Zacks Investment Research
Shares of this publicly traded distributor of residential and non-residential roofing materials have gained 8.7% in the year-to-date period against the Zacks Building Products - Retail industry’s 1.5% 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 #1 Rank stocks here.
ANF has a trailing four-quarter earnings surprise of 210.3%, on average. The stock has surged 394.5% in the past year. The Zacks Consensus Estimate for ANF’s fiscal 2024 sales and earnings per share (EPS) indicates growth of 10.4% and 47.3%, respectively, from the year-ago period’s levels.
Walmart Inc. (WMT - Free Report) currently sports a Zacks Rank of 1. WMT has a trailing four-quarter earnings surprise of 8.3%, on average. The stock has risen 34.7% in the past year.
The consensus estimate for WMT’s fiscal 2024 sales and EPS indicates growth of 4.3% and 9.5%, 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 202.7%, on average. The stock has gained 151.6% in the past year.
The Zacks Consensus Estimate for GPS’ fiscal 2024 sales and EPS indicates a rise of 0.2% and 21.7%, respectively, from the year-ago period’s levels.