How to Buy Beacon Roofing Supply Stock
Beacon Roofing Supply Inc
Beacon Roofing Supply, Inc. , together with its subsidiaries, distributes residential and non-residential roofing materials, and complementary building products to contractors, home builders, building owners, lumberyards, and retailers.
Beacon Roofing Supply stock last closed at $81.58, down 1.94% from the previous day, and has increased 3.88% in one year. It has underperformed other stocks in the Industrial Distribution industry by 0.1 percentage points. Beacon Roofing Supply stock is currently +19.09% from its 52-week low of $68.50, and -22.61% from its 52-week high of $105.42.
There are currently 61.87M BECN shares outstanding. The market value of BECN is $5.05B. In the last 24 hours, 565,618 BECN shares were traded.
How to Buy Beacon Roofing Supply Stock
Wondering how to invest in Beacon Roofing Supply stock? Here's how.
- Decide where to buy Beacon Roofing Supply stock: You need to pick a stock brokerage, but don't worry - we've analyzed dozens of online brokerages and apps to help you choose where to buy Beacon Roofing Supply stock.
- Create your brokerage account: Sign up for 0% fee trading with the highest-rated brokerage we've selected.
- Deposit money your brokerage account: Choose your payment method and add your details.
- Research Beacon Roofing Supply stock: The Beacon Roofing Supply ticker symbol is BECN. Is Beacon Roofing Supply stock a good investment? Should you buy shares of BECN? How do BECN's underlying business fundamentals look? Do top analysts think Beacon Roofing Supply is a good buy? Why has BECN's stock price moved recently? (Hint: Our stock market research tools can help you evaluate if BECN is a good stock to buy).
- Make your BECN purchase: Decide if you will purchase BECN shares at the current market price or use a limit order to purchase BECN stock at a particular price.
- Watch your BECN position: Create a watchlist to track your investment in Beacon Roofing Supply shares.
Step 1: Decide where to buy Beacon Roofing Supply stock
You need an online brokerage account to access the NASDAQ market and buy BECN stock.
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Open eToro AccountStep 2: Create your brokerage account
Now that you've picked your brokerage, you need to fill out some personal details so you are able to buy BECN today.
How to Open a New Account on eToro
- Click here to get started.eToro is a multi-asset investment platform. The value of your investments may go up or down. Your capital is at risk.
- Provide your personal info to open your new brokerage account.
- Submit your info by hitting the "Create Account" button. Get started with eToro today
Step 3: Deposit money your brokerage account
Now that you've filled out your info on apps for stocks, you can securely and quickly fund your account:
Check out the video below to see the process of transferring money into your new investment account.
Step 4: Research Beacon Roofing Supply stock
Once you have figured out the best place to buy Beacon Roofing Supply stock, it's crucial to analyze their stock before you buy, so you can understand the risk as well as the opportunity.
Beacon Roofing Supply shares at a glance
Beacon Roofing Supply Due Diligence Checks
WallStreetZen was designed to help everyday investors do more in-depth fundamental analysis in less time.
You can view all of the due diligence checks on BECN's stock page.
What is the fair value of BECN stock?
Investors use a variety of different financial metrics, analyses, models, and charts to gauge BECN's intrinsic value.
Using relative valuations methods:
- BECN may be undervalued based on its P/B ratio of 2.88x, relative to Industrial Distribution industry P/B ratio of 6.23x
You can do additional valuation research on BECN's stock here.
BECN Financial Health Summary
Pros:
- There are more short-term assets than short-term liabilities on the BECN balance sheet.
- There are more short-term assets than long-term liabilities on the BECN balance sheet.
Cons:
- BECN's operating cash flow of $239.90M allows it to safely service it's debt of $3.70B.
- BECN earnings of $675.80M is not sufficient to cover its interest payments.
- Total BECN debt is higher than 5 years ago, relative to shareholder equity.
- BECN profit margin has gone down from 3.9% to -0.4% in the past year.
- BECN has a relatively high debt to equity ratio of 3.18.
Is it a good time to buy BECN stock, according to analysts?
Out of 8 Wall Street analysts who give recommendations on BECN, the consensus analyst rating on Beacon Roofing Supply is a Buy
It's important to keep in mind that analyst ratings are not stock recommendations, nor are they investment advice.
Latest BECN Analyst Ratings
Reuben Garner, a top 6% analyst from Benchmark initiates coverage on BECN with a strong buy rating and announces their BECN price target of $135.00, on Apr 18, 2024.
Ketan Mamtora, a top 17% analyst from BMO Capital maintains BECN with a buy rating and raises their BECN price target from $95.00 to $120.00, on Apr 11, 2024.
Garik Shmois, a top 9% analyst from Loop Capital maintains BECN with a strong buy rating and raises their BECN price target from $110.00 to $115.00, on Apr 1, 2024.
Loop Capital's Garik Shmois raised their price target on Beacon Roofing Supply (NASDAQ: BECN) by 4.5% from $110 to $115 on 2024/04/01. The analyst maintained their Strong Buy rating on the stock.
In a Building Products sector review note, Shmois said they hiked their estimates on Beacon Roofing Supply after "another round of better-than-expected roofing channel checks."
The analyst said that Loop Capital's research shows an upside to current consensus estimates on Beacon Roofing Supply for Q1 2024 volume and FY 2024 pricing.
Looking ahead, Shmois added that "the broader read-throughs" for Beacon Roofing Supply from Home Depot's acquisition of privately held SRS Distribution are positive onboth valuation and competitiveness.
You can dive deeper into what analysts are forecasting on the Beacon Roofing Supply stock forecast page.
BECN Technical Indicators
BECN Growth Metrics
Last year, BECN revenue was $9.47B. In the last five year, BECN's revenue has increased by 6.2% per year. This was slower than the Industrial Distribution industry average of 22.95%.
Learn more about BECN's earnings and revenue performance here.
Who is buying/selling BECN?
Over the past year, insiders at BECN have sold more shares than they have bought.
Prithvi Gandhi, EVP CFO of BECN, was the latest BECN insider to buy. They bought $411,450.00 worth of BECN stock on Aug 7, 2024.
Dig into more about who owns BECN stock here.
Can I rely on BECN as an income stream?
No, Beacon Roofing Supply doesn't provide an income stream by paying out dividends.
What others are saying about BECN
One of the biggest reasons eToro is our top-rated brokerage is because of its social trading community.
Click below to see what other investors have to say.
Step 5: Make your BECN purchase
You have two main options:
- Market order: A market order is an order to buy or sell a security at the best available price.
Market orders are generally fine. - Limit order: A limit order is an order to buy or sell a stock at a specific price (or better).
If you want to ensure you're buying or selling at an exact price limit, place a limit order.
Click the Open button and your broker will execute your order.
If you require more assistance buying stocks on eToro, click the helpful video below:
Step 6: Watch your BECN position
Now that you own some BECN stock, you'll want to keep up with your new investment.
Put BECN on a watchlist to get the latest updates about your BECN stock.
BECN Feed
How to Buy Stock in Beacon Roofing Supply
To reiterate, here are the 6 steps to buy stock in Beacon Roofing Supply:
- Decide where to buy Beacon Roofing Supply stock
- Create your brokerage account
- Deposit money your brokerage account
- Research Beacon Roofing Supply stock
- Make your BECN purchase
- Watch your BECN position
If you are looking for a brokerage, eToro is our recommended venue.
Get Started with eToro TodayIf you would like to keep an eye on your investment in Beacon Roofing Supply, click the button below.
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