Beacon Roofing Supply, Inc. (BECN - Free Report) unveiled its branches in two new locations, Conroe, TX, and Goldsboro, NC, at the end of December 2023.
BECN’s new Texas branch is positioned in the Houston metropolitan area, aiming to satiate the demands of the growing population. This will be done by supporting the area’s contractors through the residential and commercial roofing products and services.
On the other hand, the new North Carolina branch is set up to focus on the demands of the lumberyard customers. Beacon is ready to meet this area’s customer needs with its product range, delivery fleet and specialized employees.
This strategic expansion initiative aligns with its Ambition 2025 plan as well as its goal of driving above-market growth to better serve customers.
Expansion Initiatives Bode Well
Beacon has undertaken several strategic initiatives to drive its long-term ambition of growing and enhancing customer experience. One of the primary initiatives includes footprint expansion and increasing its market reach. The company has been focusing on this initiative since the launch of its Ambition 2025 targets, which include operational excellence, above-market growth trajectory and accelerated stockholder value creation.
Beacon has been focusing on business expansion through bolt-on acquisitions and divestitures along with new branch openings. During 2023, the company expanded its footprint by adding 49 branches, having a mix of 28 new locations and acquisition of 21 branches through nine transactions.
Shares of this publicly-traded distributor of residential and non-residential roofing materials rose 52.3% in the past year, outperforming the Zacks Building Products - Retail industry’s 11.7% growth. As its footprint expansion initiatives bode well for growth momentum, Beacon intends to continue its focus on expansion to drive growth through acquisitions and the addition of greenfield locations.
Zacks Rank & Key Picks
Beacon currently carries a Zacks Rank #3 (Hold).
Here are some better-ranked stocks from the Retail-Wholesale sector.
Shake Shack Inc. (SHAK - Free Report) sports a Zacks Rank #1 (Strong Buy) at present. You can see the complete list of today’s Zacks Rank #1 stocks here.
It has a trailing four-quarter earnings surprise of 80.8%, on average. The stock has risen 19.9% in the past year. The Zacks Consensus Estimate for SHAK’s 2024 sales and earnings per share (EPS) indicates an increase of 15.2% and 39%, respectively, from the year-ago levels.
Arcos Dorados Holdings Inc. (ARCO - Free Report) currently flaunts a Zacks Rank of 1. It has a trailing four-quarter earnings surprise of 28.3%, on average. The stock has risen 39% in the past year.
The Zacks Consensus Estimate for ARCO’s 2024 sales and EPS indicates a rise of 10.6% and 15.5%, respectively, from the year-ago levels.
The Gap, Inc. (GPS - Free Report) currently sports a Zacks Rank of 1. It has a trailing four-quarter earnings surprise of 137.9%, on average. The stock has risen 52.6% in the past year.
The Zacks Consensus Estimate for GPS’ fiscal 2024 sales implies an improvement of 0.9% from the year-ago level. The consensus estimate for EPS indicates a decline of 0.7% from the year-ago actuals.
Research Chief Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
This company targets millennial and Gen Z audiences, generating nearly $1 billion in revenue last quarter alone. A recent pullback makes now an ideal time to jump aboard. Of course, all our elite picks aren’t winners but this one could far surpass earlier Zacks’ Stocks Set to Double like Nano-X Imaging which shot up +129.6% in little more than 9 months.
Free: See Our Top Stock And 4 Runners Up
Beacon Roofing Supply, Inc. (BECN - Free Report) unveiled its branches in two new locations, Conroe, TX, and Goldsboro, NC, at the end of December 2023.
BECN’s new Texas branch is positioned in the Houston metropolitan area, aiming to satiate the demands of the growing population. This will be done by supporting the area’s contractors through the residential and commercial roofing products and services.
On the other hand, the new North Carolina branch is set up to focus on the demands of the lumberyard customers. Beacon is ready to meet this area’s customer needs with its product range, delivery fleet and specialized employees.
This strategic expansion initiative aligns with its Ambition 2025 plan as well as its goal of driving above-market growth to better serve customers.
Expansion Initiatives Bode Well
Beacon has undertaken several strategic initiatives to drive its long-term ambition of growing and enhancing customer experience. One of the primary initiatives includes footprint expansion and increasing its market reach. The company has been focusing on this initiative since the launch of its Ambition 2025 targets, which include operational excellence, above-market growth trajectory and accelerated stockholder value creation.
Beacon has been focusing on business expansion through bolt-on acquisitions and divestitures along with new branch openings. During 2023, the company expanded its footprint by adding 49 branches, having a mix of 28 new locations and acquisition of 21 branches through nine transactions.
Shares of this publicly-traded distributor of residential and non-residential roofing materials rose 52.3% in the past year, outperforming the Zacks Building Products - Retail industry’s 11.7% growth. As its footprint expansion initiatives bode well for growth momentum, Beacon intends to continue its focus on expansion to drive growth through acquisitions and the addition of greenfield locations.
Zacks Rank & Key Picks
Beacon currently carries a Zacks Rank #3 (Hold).
Here are some better-ranked stocks from the Retail-Wholesale sector.
Shake Shack Inc. (SHAK - Free Report) sports a Zacks Rank #1 (Strong Buy) at present. You can see the complete list of today’s Zacks Rank #1 stocks here.
It has a trailing four-quarter earnings surprise of 80.8%, on average. The stock has risen 19.9% in the past year. The Zacks Consensus Estimate for SHAK’s 2024 sales and earnings per share (EPS) indicates an increase of 15.2% and 39%, respectively, from the year-ago levels.
Arcos Dorados Holdings Inc. (ARCO - Free Report) currently flaunts a Zacks Rank of 1. It has a trailing four-quarter earnings surprise of 28.3%, on average. The stock has risen 39% in the past year.
The Zacks Consensus Estimate for ARCO’s 2024 sales and EPS indicates a rise of 10.6% and 15.5%, respectively, from the year-ago levels.
The Gap, Inc. (GPS - Free Report) currently sports a Zacks Rank of 1. It has a trailing four-quarter earnings surprise of 137.9%, on average. The stock has risen 52.6% in the past year.
The Zacks Consensus Estimate for GPS’ fiscal 2024 sales implies an improvement of 0.9% from the year-ago level. The consensus estimate for EPS indicates a decline of 0.7% from the year-ago actuals.
Research Chief Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
This company targets millennial and Gen Z audiences, generating nearly $1 billion in revenue last quarter alone. A recent pullback makes now an ideal time to jump aboard. Of course, all our elite picks aren’t winners but this one could far surpass earlier Zacks’ Stocks Set to Double like Nano-X Imaging which shot up +129.6% in little more than 9 months.
Free: See Our Top Stock And 4 Runners Up
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