Beacon Roofing Supply, Inc. BECN was a big mover last session, as the company saw its shares rise nearly 9% on the day. The move came on solid volume too with far more shares changing hands than in a normal session. This stock, which remained volatile and traded within the range of $39.64–$47.30 in the past one-month time frame, witnessed a sharp increase on Friday.
The company’s shares continued their upmove after Beacon Roofing revealed an agreement to buy CRH plc's Allied Building Products Corp. subsidiary – one of the country's largest exterior and interior building products distributors – for $2.624 billion in cash.
The company has seen eight negative estimate revisions in the past few weeks, while its Zacks Consensus Estimate for the current quarter has also moved lower over the past few weeks, suggesting there may be trouble down the road. So make sure to keep an eye on this stock going forward, to see if this recent move higher can last.
Beacon Roofing currently has a Zacks Rank #4 (Sell) while its Earnings ESP is 0.00%.
Beacon Roofing Supply, Inc. Price
Beacon Roofing Supply, Inc. Price | Beacon Roofing Supply, Inc. Quote
A better-ranked stock in the same industry is Lumber Liquidators Holdings, Inc. LL, holding a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
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