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Best Building Product & Equipment Stocks to Buy Now (2023)

Top building product & equipment stocks in 2023 ranked by overall Zen Score. See the best building product & equipment stocks to buy now, according to analyst forecasts for the building products & equipment industry.

According to Zen Score, the 3 best building product & equipment stocks to buy right now are:

Carlisle Companies (NYSE:CSL) is the top building product & equipment stock with a Zen Score of 61, which is 19 points higher than the building product & equipment industry average of 42. It passed 23 out of 38 due diligence checks and has strong fundamentals. Carlisle Companies has seen its stock lose -13.82% over the past year, underperforming other building product & equipment stocks by -19 percentage points.

Carlisle Companies has an average 1 year price target of $309.17, an upside of 36.84% from Carlisle Companies's current stock price of $225.93.

Carlisle Companies stock has a consensus Buy recommendation according to Wall Street analysts. Of the 6 analysts covering Carlisle Companies, 16.67% have issued a Strong Buy rating, 83.33% have issued a Buy, 0% have issued a hold, while 0% have issued a Sell rating, and 0% have issued a Strong Sell.

Beacon Roofing Supply (NASDAQ:BECN) is the second best building product & equipment stock with a Zen Score of 60, which is 18 points higher than the building product & equipment industry average of 42. It passed 19 out of 33 due diligence checks and has strong fundamentals. Beacon Roofing Supply has seen its stock return 6.68% over the past year, overperforming other building product & equipment stocks by 1 percentage points.

Beacon Roofing Supply has an average 1 year price target of $80.25, an upside of 19.37% from Beacon Roofing Supply's current stock price of $67.23.

Beacon Roofing Supply stock has a consensus Buy recommendation according to Wall Street analysts. Of the 4 analysts covering Beacon Roofing Supply, 50% have issued a Strong Buy rating, 0% have issued a Buy, 50% have issued a hold, while 0% have issued a Sell rating, and 0% have issued a Strong Sell.

Armstrong World Industries (NYSE:AWI) is the third best building product & equipment stock with a Zen Score of 57, which is 15 points higher than the building product & equipment industry average of 42. It passed 21 out of 38 due diligence checks and has strong fundamentals. Armstrong World Industries has seen its stock lose -25.24% over the past year, underperforming other building product & equipment stocks by -31 percentage points.

Armstrong World Industries has an average 1 year price target of $83.38, an upside of 28.86% from Armstrong World Industries's current stock price of $64.70.

Armstrong World Industries stock has a consensus Buy recommendation according to Wall Street analysts. Of the 8 analysts covering Armstrong World Industries, 37.5% have issued a Strong Buy rating, 12.5% have issued a Buy, 50% have issued a hold, while 0% have issued a Sell rating, and 0% have issued a Strong Sell.

Out of 13 building product & equipment stocks that have issued dividends in the past year, the 3 building product & equipment stocks with the highest dividend yields are:

Apogee Enterprises (NASDAQ:APOG) has an annual dividend yield of 2.3%, which is 1 percentage points higher than the building product & equipment industry average of 1.58%. Apogee Enterprises's dividend payout is stable, having never dropped by more than 10% in the last 10 years. Apogee Enterprises's dividend has shown consistent growth over the last 10 years.

Apogee Enterprises's dividend payout ratio of 19% indicates that its dividend yield is sustainable for the long-term.

Masco (NYSE:MAS) has an annual dividend yield of 2.2%, which is 1 percentage points higher than the building product & equipment industry average of 1.58%. Masco's dividend payout is stable, having never dropped by more than 10% in the last 10 years. Masco's dividend has shown consistent growth over the last 10 years.

Masco's dividend payout ratio of 31.4% indicates that its dividend yield is sustainable for the long-term.

Installed Building Products (NYSE:IBP) has an annual dividend yield of 1.91%, which is the same as the building product & equipment industry average of 1.58%.

Installed Building Products's dividend payout ratio of 25.9% indicates that its dividend yield is sustainable for the long-term.

Building product & equipment stocks were up 5.29% in the last day, and up 3.73% over the last week. Quanex Building Products was the among the top gainers in the building products & equipment industry, gaining 23.43% yesterday.

Shares of several companies in the broader industrials space are trading higher on overall market strength amid renewed economic optimism following US Senate passage of a debt limit bill and strong US jobs data.

Based on WallStreetZen's Valuation Score, the 3 most undervalued building product & equipment stocks right now are:

Patrick Industries (NASDAQ:PATK) is the most undervalued building product & equipment stock based on WallStreetZen's Valuation Score. Patrick Industries has a valuation score of 86, which is 41 points higher than the building product & equipment industry average of 45. It passed 6 out of 7 valuation due diligence checks.

Patrick Industries's stock has gained 19.51% in the past year. It has overperformed other stocks in the building product & equipment industry by 14 percentage points.

Beacon Roofing Supply (NASDAQ:BECN) is the second most undervalued building product & equipment stock based on WallStreetZen's Valuation Score. Beacon Roofing Supply has a valuation score of 71, which is 26 points higher than the building product & equipment industry average of 45. It passed 5 out of 7 valuation due diligence checks.

Beacon Roofing Supply's stock has gained 6.68% in the past year. It has overperformed other stocks in the building product & equipment industry by 1 percentage points.

Carlisle Companies (NYSE:CSL) is the third most undervalued building product & equipment stock based on WallStreetZen's Valuation Score. Carlisle Companies has a valuation score of 71, which is 26 points higher than the building product & equipment industry average of 45. It passed 5 out of 7 valuation due diligence checks.

Carlisle Companies's stock has dropped -13.82% in the past year. It has underperformed other stocks in the building product & equipment industry by -19 percentage points.