Beacon Roofing Supply Stock (NASDAQ: BECN)

Beacon Roofing Supply (NASDAQ:BECN) Stock

Beacon Roofing Supply

Beacon Roofing Supply Inc manufactures and sells roofing and building materials throughout the United States and Canada. Beacon's key customers consist of contractors, home builders, lumberyards, retailers, wholesale distributors, and building materials suppliers. The company's product portfolio includes both residential and non-residential roofing materials, siding, windows, and waterproofing systems. The majority of revenue is generated from residential and non-residential roofing products. The vast majority of Beacon's revenue comes from the United States.

Data.

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BECN

QXO, Inc. (NYSE: QXO) has proposed an all-cash tender offer of $124.25 per share for Beacon Roofing Supply, Inc. (NASDAQ: BECN), valuing the transaction at approximately $11 billion.

Tech Service Provider QXO Launches $11B Cash Bid For Beacon Roofing

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Beacon Roofing Supply, Inc. - Common Stock

Beacon Roofing Supply Inc

Beacon Roofing Supply's (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BECN#NYSE">BECN</a>) short percent of float has fallen 23.92% since its last report. The company recently reported that it has 1.27 million shares sold short, which is 2.64% of all regular shares that are available for trading. Based on its trading volume, it would take traders 1.03 days to cover their short positions on average.
<h3>Why Short Interest Matters</h3>
Short interest is the number of shares that have been sold short but have not yet been covered or closed out. <a href="https://www.benzinga.com/money/how-to-short-a-stock/">Short selling</a> is when a trader sells shares of a company they do not own, with the hope that the price will fall. Traders make money from short selling if the price of the stock falls and they lose if it rises.
Short interest is important to track because it can act as an indicator of market sentiment towards a particular stock. An increase in short interest can signal that investors have become more bearish, while a decrease in short interest can signal they have become more bullish.
See Also: <a href="https://www.benzinga.com/short-interest">List of the most shorted stocks</a>
<h3>Beacon Roofing Supply Short Interest Graph (3 Months)</h3>
<img src="https://www.benzinga.com/files/images/story/2025/1739802611_0.png" alt="short_fig" />
As you can see from the chart above the percentage of shares that are sold short for Beacon Roofing Supply has declined since its last report. This does not mean that the stock is going to rise in the near-term but traders should be aware that less shares are being shorted.
<h3>Comparing Beacon Roofing Supply's Short Interest Against Its Peers</h3>
Peer comparison is a popular technique amongst analysts and investors for gauging how well a company is performing. A company's peer is another company that has similar characteristics to it, such as industry, size, age, and financial structure. You can find a company's peer group by reading its 10-K, proxy filing, or by doing your own similarity analysis.
According to <a href="https://pro.benzinga.com/">Benzinga Pro</a>, Beacon Roofing Supply's peer group average for short interest as a percentage of float is 5.41%, which means the company has less short interest than most of its peers.
Did you know that increasing short interest can actually be bullish for a stock? <a href="https://www.benzinga.com/money/how-to-make-money-on-a-short-squeeze/">This post by Benzinga Money explains how you can profit from it.</a>
This article was generated by Benzinga's automated content engine and was reviewed by an editor.

Short Sellers

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How Is The Market Feeling About Beacon Roofing Supply?

Management

Beacon Reveals Receipt Of Notice From QXO About Nominations Of Ten Individuals To Stand For Election To Board, Says Nominations Represent Apparent Attempt to Pressure Board To Accept Offer

The company confirmed that the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act has expired and that it has received early termination of the waiting period from the Canadian Competition Bureau.

QXO Obtains Antitrust Clearance In Both US And Canada For Its Acquisition Of Beacon Roofing Supply

QXO Releases Letter To Beacon Roofing Supply Shareholders; Says Beacon Roofing's Board Stalls And Misleads

Stifel analyst W. Andrew Carter downgrades Beacon Roofing Supply (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BECN#NASDAQ">BECN</a>) from Buy to Hold and lowers the price target from $131 to $122.55.

Downgrades

Price Target

Analyst Ratings

Stifel Downgrades Beacon Roofing Supply to Hold, Lowers Price Target to $122.55

Offerings

Beacon Board Rejects QXO's Unsolicited Tender Offer To Acquire All Outstanding Shares For $124.25/Share

QXO Reaffirms Commitment To Acquiring Beacon For $124.25/Share In Cash

Beacon Board Of Directors Adopt limited Duration Stockholder Rights Agreement In Response To QXO Tender Offer

Technology services provider for manufacturing, QXO, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/QXO#NYSE">QXO</a>) revealed its intention to make an all-cash tender offer for Beacon Roofing Supply, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BECN#NASDAQ">BECN</a>), <a href="https://www.benzinga.com/pressreleases/25/01/g43223850/qxo-launches-11-billion-tender-offer-to-acquire-beacon-roofing-supply-for-124-25-per-share-in-cash">offering $124.25 per share</a>.
The deal&#8217;s total value is estimated at around $11 billion, as per the company&#8217;s statement.
This proposal represents a 37% premium over Beacon&#8217;s 90-day volume-weighted average share price of $91.02, as of November 15, 2024. 
QXO plans to finalize the acquisition promptly after the 20-business-day tender offer period ends. The company has assured that the deal is not contingent on financing or due diligence. 
&#8220;Our compelling offer would get cash into the hands of Beacon shareholders immediately at a significant premium to the unaffected share price,&#8221; said chairman and CEO Brad Jacobs.
We believe that Beacon would be a strong fit for QXO and a key part of our plan to become a forward-looking leader in building products distribution.&#8221;
Also Read: <a href="https://www.benzinga.com/news/contracts/25/01/43194823/intuitive-machines-secures-nasa-contract-for-lunar-mobility-solutions">Intuitive Machines Secures NASA Contract For Lunar Mobility Solutions</a>
QXO anticipates that the necessary regulatory waiting periods, including those under the Hart-Scott-Rodino Act and Canadian Competition Act, will either expire or be waived by the time the tender offer concludes.
The company has obtained financial backing from prominent financial institutions such as Goldman Sachs Group Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GS#NYSE">GS</a>), Morgan Stanley (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MS#NYSE">MS</a>), Citigroup Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/C#NYSE">C</a>) and others.
These funds, along with QXO&#8217;s available cash reserves, will cover the entire acquisition cost, including any refinancing of Beacon's debt and related transaction fees. 
QXO held $5.03 billion in cash and <a href="https://www.benzinga.com/pressreleases/24/11/g41934730/qxo-reports-third-quarter-2024-results">equivalents as of September 30, 2024</a>.
The tender offer is scheduled to expire at 12:00 midnight ET time on February 24, 2025, though it may be extended.
Price Action: QXO shares are trading higher by 0.22% at $13.76 in premarket at the last check Monday.
Read Next; <a href="https://www.benzinga.com/analyst-ratings/analyst-color/25/01/43199944/american-airlines-2025-forecast-promising-despite-q1-challenges-say-analysts">American Airlines&#8217; 2025 Forecast Promising Despite Q1 Challenges, Say Analysts</a>
Photo: Shutterstock

This price implies a 37% premium above Beacon's 90-day unaffected volume-weighted average price of $91.02 per share as of November 15, 2024. The total transaction enterprise value is approximately $11 billion.
QXO intends to complete the acquisition quickly after the tender offer expires in 20 business days, subject to the terms of the offer.
In addition, QXO reiterates that it intends to pursue all options to complete a transaction, including nominating directors for election at Beacon's Annual Meeting.
 &nbsp;
&nbsp;

QXO Commences All-cash Tender Offer To Acquire All Outstanding Shares Of Beacon Roofing Supply At $124.25/Share

<a href="https://www.wsj.com/business/deals/building-products-distributor-qxo-launching-hostile-bid-for-beacon-de024410#:~:text=QXO%20is%20planning%20to%20launch,roughly%20%2411%20billion%20including%20debt" title="https://www.wsj.com/business/deals/building-products-distributor-qxo-launching-hostile-bid-for-beacon-de024410#:~:text=QXO%20is%20planning%20to%20launch,roughly%20%2411%20billion%20including%20debt">https://www.wsj.com/business/deals/building-products-distributor-qxo-launching-hostile-bid-for-beacon-de024410#:~:text=QXO%20is%20planning%20to%20launch,roughly%20%2411%20billion%20including%20debt</a>.

The Wall Street Journal Reported Sunday, QXO Expected to Launch Tender Offer to Acquire All Outstanding Shares of Beacon for $124.25 Each on Monday

<a href="https://www.bloomberg.com/news/articles/2025-01-24/beacon-roofing-seeks-potential-rivals-to-qxo-takeover-bid" title="https://www.bloomberg.com/news/articles/2025-01-24/beacon-roofing-seeks-potential-rivals-to-qxo-takeover-bid">https://www.bloomberg.com/news/articles/2025-01-24/beacon-roofing-seeks-potential-rivals-to-qxo-takeover-bid</a>
Beacon Roofing Supply Inc. has started soliciting interest from potential buyers as it looks to fend off an $11 billion takeover bid from rival QXO Inc., people familiar with the matter said.

'Beacon Roofing Seeks Potential Rivals To QXO Takeover Bid' - Bloomberg News

Stifel analyst W. Andrew Carter maintains Beacon Roofing Supply (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BECN#NASDAQ">BECN</a>) with a Buy and raises the price target from $115 to $131.

Stifel Maintains Buy on Beacon Roofing Supply, Raises Price Target to $131

BMO Capital analyst Ketan Mamtora maintains Beacon Roofing Supply (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BECN#NASDAQ">BECN</a>) with a Outperform and raises the price target from $125 to $136.

BMO Capital Maintains Outperform on Beacon Roofing Supply, Raises Price Target to $136

<h3>Gainers</h3>
<ul>
<li>Safe &amp; Green Holdings (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SGBX#NASDAQ">SGBX</a>) shares moved upwards by 240.7% to $1.84 during Wednesday's pre-market session. The company's market cap stands at $8.0 million. </li>
<li>Richtech Robotics (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RR#NASDAQ">RR</a>) shares moved upwards by 15.38% to $3.0. The market value of their outstanding shares is at $284.4 million. </li>
<li>SES AI (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SES#NYSE">SES</a>) shares moved upwards by 13.21% to $0.93. The company's market cap stands at $332.1 million. </li>
<li>Nauticus Robotics (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/KITT#NASDAQ">KITT</a>) stock increased by 13.09% to $2.24. The company's market cap stands at $14.3 million. </li>
<li>Palladyne AI (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PDYN#NASDAQ">PDYN</a>) shares rose 11.61% to $10.09. The company's market cap stands at $303.8 million. </li>
<li>Beacon Roofing Supply (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BECN#NASDAQ">BECN</a>) shares increased by 11.16% to $121.0. The company's market cap stands at $7.4 billion. </li>
</ul>
<h3>Losers</h3>
<ul>
<li>Li-Cycle Holdings (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LICY#NYSE">LICY</a>) stock fell 39.5% to $0.92 during Wednesday's pre-market session. The company's market cap stands at $25.3 million. </li>
<li>Shoals Technologies Gr (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SHLS#NASDAQ">SHLS</a>) shares fell 11.98% to $5.0. The market value of their outstanding shares is at $833.4 million. </li>
<li>Nocera (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NCRA#NASDAQ">NCRA</a>) stock decreased by 10.29% to $0.96. The company's market cap stands at $13.4 million. </li>
<li>Energy Focus (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/EFOI#NASDAQ">EFOI</a>) shares fell 8.89% to $1.23. The market value of their outstanding shares is at $6.4 million. </li>
<li>Singularity Future Tech (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SGLY#NASDAQ">SGLY</a>) stock declined by 8.8% to $2.23. The market value of their outstanding shares is at $7.8 million. </li>
<li>Nuburu (AMEX:<a class="ticker" href="https://www.benzinga.com/stock/BURU#AMEX">BURU</a>) stock decreased by 8.55% to $0.43. The market value of their outstanding shares is at $8.7 million. 
See Also: <a href="http://www.benzinga.com/money/best-industrials-stocks/" title="www.benzinga.com/money/best-industrials-stocks/">www.benzinga.com/money/best-industrials-stocks/</a></li>
</ul>
This article was generated by Benzinga's automated content engine and reviewed by an editor.

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Proposal Significantly Undervalues the Company and is Not in the Best Interests of Beacon and its Shareholders
On Multiple Occasions Beacon Sought Substantive Engagement with QXO to Demonstrate Path to Value; QXO Refused
Beacon to Hold Investor Day on March 13, 2025, Where Company Will Provide 2028 Long-Term Financial Targets
Shareholders Do Not Need to Take Action At This Time
Beacon (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BECN#NASDAQ">BECN</a>) (the "Company") today confirmed that it has previously received and rejected an unsolicited, non-binding proposal from QXO, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QXO#NASDAQ">QXO</a>) to acquire all outstanding shares of the Company for $124.25 per share in cash.
QXO's proposal, publicized today, was received on November 11, 2024. Consistent with its fiduciary duties, and in consultation with its independent financial and legal advisors, Beacon's Board of Directors (the "Board") thoroughly evaluated the proposal. Following its review, the Board unanimously rejected the proposal and determined that it significantly undervalues the Company and its prospects for growth and future value creation. The Board therefore determined that QXO's proposal was not in the best interests of Beacon and its shareholders.
Contrary to QXO's assertions, Beacon offered on multiple occasions to engage, including to discuss price, subject only to a standard non-disclosure agreement (NDA). Additionally, Beacon:
<ul>
<li>Held repeated discussions between members of the Beacon executive team and QXO, as well as with the respective advisors of the parties.</li>
<li>Offered a standard NDA to share confidential management projections and other relevant company information to further develop QXO's valuation of Beacon. QXO refused to engage on multiple occasions, stating that it was not interested in any confidential information.</li>
<li>Offered to limit the duration of the customary confidentiality obligations as part of the NDA only through Beacon's planned Investor Day on March 13, at which point 2028 long-term targets will be presented.</li>
<li>Structured the NDA to preserve QXO's ability to run a proxy contest at the upcoming 2025 annual meeting of shareholders.</li>
</ul>

Beacon Confirms Receipt And Reiterates Rejection Of Unsolicited Proposal; Says "Proposal Significantly Undervalues The Company And Is Not In The Best Interests Of Beacon And Its Shareholders"

WIIM

Beacon Roofing Supply shares are trading higher after QXO announced a proposal to acquire the company for $124.25 per share in cash for a total valuation of approximately $11 billion.

QXO Proposes To Acquire Beacon Roofing Supply For $124.25/Share In Cash, Implying Total Transaction Valued Of ~$11B

Ratings for Beacon Roofing Supply (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BECN#NASDAQ">BECN</a>) were provided by 7 analysts in the past three months, showcasing a mix of bullish and bearish perspectives.
The table below provides a snapshot of their recent ratings, showcasing how sentiments have evolved over the past 30 days and comparing them to the preceding months.
<table>
<thead>
<tr>
<th></th>
<th align="right">Bullish</th>
<th align="right">Somewhat Bullish</th>
<th align="right">Indifferent</th>
<th align="right">Somewhat Bearish</th>
<th align="right">Bearish</th>
</tr>
</thead>
<tbody>
<tr>
<td>Total Ratings</td>
<td align="right">2</td>
<td align="right">4</td>
<td align="right">1</td>
<td align="right">0</td>
<td align="right">0</td>
</tr>
<tr>
<td>Last 30D</td>
<td align="right">1</td>
<td align="right">0</td>
<td align="right">0</td>
<td align="right">0</td>
<td align="right">0</td>
</tr>
<tr>
<td>1M Ago</td>
<td align="right">0</td>
<td align="right">0</td>
<td align="right">0</td>
<td align="right">0</td>
<td align="right">0</td>
</tr>
<tr>
<td>2M Ago</td>
<td align="right">0</td>
<td align="right">1</td>
<td align="right">1</td>
<td align="right">0</td>
<td align="right">0</td>
</tr>
<tr>
<td>3M Ago</td>
<td align="right">1</td>
<td align="right">3</td>
<td align="right">0</td>
<td align="right">0</td>
<td align="right">0</td>
</tr>
</tbody>
</table>
Analysts' evaluations of 12-month price targets offer additional insights, showcasing an average target of $121.0, with a high estimate of $140.00 and a low estimate of $103.00. This current average reflects an increase of 3.71% from the previous average price target of $116.67. 
<img src="https://www.benzinga.com/files/images/story/2025/1736362810_0.png" alt="price target chart" />
<h2>Understanding Analyst Ratings: A Comprehensive Breakdown</h2>
The perception of Beacon Roofing Supply by financial experts is analyzed through recent analyst actions. The following summary presents key analysts, their recent evaluations, and adjustments to ratings and price targets.
<table>
<thead>
<tr>
<th>Analyst</th>
<th>Analyst Firm</th>
<th>Action Taken</th>
<th>Rating</th>
<th>Current Price Target</th>
<th>Prior Price Target</th>
</tr>
</thead>
<tbody>
<tr>
<td>W. Andrew Carter</td>
<td>Stifel</td>
<td>Announces</td>
<td>Buy</td>
<td>$115.00</td>
<td>-</td>
</tr>
<tr>
<td>Michael Rehaut</td>
<td>JP Morgan</td>
<td>Raises</td>
<td>Overweight</td>
<td>$136.00</td>
<td>$119.00</td>
</tr>
<tr>
<td>Trey Grooms</td>
<td>Stephens &amp; Co.</td>
<td>Maintains</td>
<td>Equal-Weight</td>
<td>$103.00</td>
<td>$103.00</td>
</tr>
<tr>
<td>Michael Rehaut</td>
<td>JP Morgan</td>
<td>Raises</td>
<td>Overweight</td>
<td>$119.00</td>
<td>$110.00</td>
</tr>
<tr>
<td>Mike Dahl</td>
<td>RBC Capital</td>
<td>Raises</td>
<td>Outperform</td>
<td>$114.00</td>
<td>$113.00</td>
</tr>
<tr>
<td>Reuben Garner</td>
<td>Benchmark</td>
<td>Maintains</td>
<td>Buy</td>
<td>$140.00</td>
<td>$140.00</td>
</tr>
<tr>
<td>David Manthey</td>
<td>Baird</td>
<td>Raises</td>
<td>Outperform</td>
<td>$120.00</td>
<td>$115.00</td>
</tr>
</tbody>
</table>
<h3>Key Insights:</h3>
<ul>
<li>Action Taken: Analysts respond to changes in market conditions and company performance, frequently updating their recommendations. Whether they 'Maintain', 'Raise' or 'Lower' their stance, it reflects their reaction to recent developments related to Beacon Roofing Supply. This information offers a snapshot of how analysts perceive the current state of the company.</li>
<li>Rating: Gaining insights, analysts provide qualitative assessments, ranging from 'Outperform' to 'Underperform'. These ratings reflect expectations for the relative performance of Beacon Roofing Supply compared to the broader market.</li>
<li>Price Targets: Analysts predict movements in price targets, offering estimates for Beacon Roofing Supply's future value. Examining the current and prior targets offers insights into analysts' evolving expectations.</li>
</ul>
Understanding these analyst evaluations alongside key financial indicators can offer valuable insights into Beacon Roofing Supply's market standing. Stay informed and make well-considered decisions with our Ratings Table.
<a href="https://www.benzinga.com/quote/BECN/analyst-ratings?utm_source=Benzinga Insights">Stay up to date on Beacon Roofing Supply analyst ratings.</a>
<h2>Discovering Beacon Roofing Supply: A Closer Look</h2>
Beacon Roofing Supply Inc manufactures and sells roofing and building materials throughout the United States and Canada. Beacon's key customers consist of contractors, home builders, lumberyards, retailers, wholesale distributors, and building materials suppliers. The company's product portfolio includes both residential and non-residential roofing materials, siding, windows, and waterproofing systems. The majority of revenue is generated from residential and non-residential roofing products. The vast majority of Beacon's revenue comes from the United States.
<h3>Beacon Roofing Supply: Financial Performance Dissected</h3>
Market Capitalization Analysis: Falling below industry benchmarks, the company's market capitalization reflects a reduced size compared to peers. This positioning may be influenced by factors such as growth expectations or operational capacity.
Positive Revenue Trend: Examining Beacon Roofing Supply's financials over 3 months reveals a positive narrative. The company achieved a noteworthy revenue growth rate of 7.29% as of 30 September, 2024, showcasing a substantial increase in top-line earnings. When compared to others in the Industrials sector, the company faces challenges, achieving a growth rate lower than the average among peers.
Net Margin: Beacon Roofing Supply's net margin is below industry standards, pointing towards difficulties in achieving strong profitability. With a net margin of 5.24%, the company may encounter challenges in effective cost control.
Return on Equity (ROE): Beacon Roofing Supply's ROE is below industry standards, pointing towards difficulties in efficiently utilizing equity capital. With an ROE of 7.96%, the company may encounter challenges in delivering satisfactory returns for shareholders.
Return on Assets (ROA): Beacon Roofing Supply's ROA falls below industry averages, indicating challenges in efficiently utilizing assets. With an ROA of 1.97%, the company may face hurdles in generating optimal returns from its assets.
Debt Management: Beacon Roofing Supply's debt-to-equity ratio is below industry norms, indicating a sound financial structure with a ratio of 1.95.
<h2>The Core of Analyst Ratings: What Every Investor Should Know</h2>
Within the domain of banking and financial systems, analysts specialize in reporting for specific stocks or defined sectors. Their work involves attending company conference calls and meetings, researching company financial statements, and communicating with insiders to publish "analyst ratings" for stocks. Analysts typically assess and rate each stock once per quarter.
Some analysts publish their predictions for metrics such as growth estimates, earnings, and revenue to provide additional guidance with their ratings. When using analyst ratings, it is important to keep in mind that stock and sector analysts are also human and are only offering their opinions to investors.
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This article was generated by Benzinga's automated content engine and reviewed by an editor.

The Analyst Verdict: Beacon Roofing Supply In The Eyes Of 7 Experts

Stifel analyst W. Andrew Carter reinstates Beacon Roofing Supply (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BECN#NASDAQ">BECN</a>) with a Buy and announces $115 price target.

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