Stifel resumed coverage on Beacon Roofing Supply with a new price target
$BECN
RETAIL: Building Materials
Consumer Discretionary
Stifel resumed coverage of Beacon Roofing Supply with a rating of Buy and set a new price target of $115.00
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| Date | Price Target | Rating | Analyst |
|---|---|---|---|
| 4/2/2025 | Outperform → Sector Perform | RBC Capital Mkts | |
| 2/7/2025 | $131.00 → $122.55 | Buy → Hold | Stifel |
| 1/8/2025 | $115.00 | Buy | Stifel |
| 4/18/2024 | $135.00 | Buy | The Benchmark Company |
| 2/29/2024 | $99.00 → $115.00 | Neutral → Outperform | Robert W. Baird |
| 1/8/2024 | Mkt Perform → Outperform | William Blair | |
| 12/14/2023 | $86.00 → $103.00 | Neutral → Overweight | JP Morgan |
| 10/5/2023 | $91.00 → $94.00 | Sector Perform → Outperform | RBC Capital Mkts |
QXO, Inc. (NYSE:QXO) announced today that it is extending its all-cash tender offer to acquire all outstanding shares of Beacon Roofing Supply, Inc. (NASDAQ:BECN) for $124.35 per share. Beacon's board of directors unanimously recommends that all shareholders tender their shares into the offer. The tender offer will remain open until 5:00 p.m. (New York City time) on April 21, 2025. The transaction is expected to close at or near the end of April, subject to a majority of Beacon shares tendering in the offer and other customary closing conditions. The acquisition has received antitrust clearance in the U.S. and Canada. Computershare Trust Company, N.A., the depositary and paying agent for
QXO, Inc. (NYSE:QXO) announced today that it is extending its all-cash tender offer to acquire all outstanding shares of Beacon Roofing Supply, Inc. (NASDAQ:BECN) and amending the terms of its pending tender offer to reflect the terms of the previously announced definitive merger agreement between Beacon and QXO, including to increase the offer price to $124.35 per share in cash and reflect such other changes as contemplated by the merger agreement. Beacon's board of directors unanimously recommends that all shareholders tender their shares into the offer, and has amended its recommendation statement on Schedule 14D-9 in support of the amended offer. The tender offer will remain open until
QXO, Inc. (NYSE:QXO) and Beacon Roofing Supply, Inc. (NASDAQ:BECN) today announced that they have entered into a definitive merger agreement under which QXO will acquire Beacon for $124.35 per share in cash. Beacon is a leading distributor of roofing, waterproofing and exterior products, with nearly 600 branches across the U.S. and Canada. The boards of directors of both companies have unanimously approved the transaction, which values Beacon at approximately $11 billion, including all its outstanding debt. The transaction is expected to close by the end of April, subject to a majority of Beacon shares tendering in the offer and other customary closing conditions. Beacon's board unanimo
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RBC Capital Mkts downgraded Beacon Roofing Supply from Outperform to Sector Perform
Stifel downgraded Beacon Roofing Supply from Buy to Hold and set a new price target of $122.55 from $131.00 previously
Stifel resumed coverage of Beacon Roofing Supply with a rating of Buy and set a new price target of $115.00
Ambition 2025 initiatives delivered growth in a challenging environment with higher sales across all business lines Strong execution drove fourth quarter results, with contributions from operational excellence initiatives and newly opened greenfield and acquired branches Margin enhancing private label and digital channel achieved record fourth quarter and full year sales and penetration Strong fourth quarter cash flow, prudent balance sheet management, and ample liquidity Management to provide strategic review, growth drivers and financial targets at Investor Day on March 13th Beacon (NASDAQ:BECN) (the "Company", "we", "our"), the leading publicly-traded wholesale distri
Beacon (NASDAQ:BECN) (the "Company") announced today that, consistent with last year, its earnings results for the quarter and full year ended December 31, 2024 will be released before the market opens on Thursday, February 27, 2025. The Company will host a conference call and webcast to discuss its financial results at 8:30 a.m. Eastern Time that same day. Analysts, investors and interested parties are invited to register and listen to the earnings call and view accompanying slides on the Company's website at the below link. Details for the earnings release event are as follows: What: Beacon Fourth Quarter and Full Year 2024 Earnings Call When: Thursday, February
Beacon (NASDAQ:BECN) (the "Company"), the leading publicly-traded specialty wholesale distributor of roofing, waterproofing and related exterior products, announced today that its Board of Directors (the "Board") has unanimously adopted a limited duration stockholder rights agreement (the "Rights Agreement") to protect stockholder interests and maximize value for all stockholders. The Board adopted the Rights Agreement in response to the tender offer previously announced by QXO, Inc. ("QXO"). The Rights Agreement is intended to protect Beacon and its stockholders from anyone seeking to opportunistically gain control of Beacon without paying all stockholders an appropriate control premium.
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Four greenfield branches expand service area in Indiana, Wisconsin, Florida and Texas Further supports Ambition 2025 Plan to drive above market growth by significantly enhancing customer reach Beacon (NASDAQ:BECN), the leading publicly-traded specialty wholesale distributor of roofing, waterproofing and related exterior products, announced today that it has opened four greenfield branches to better serve both residential and non-residential roofing customers. New branches in Lafayette, Indiana and La Crosse, Wisconsin will serve these upper Midwest markets. "Both locations are well positioned to provide a full range of exterior products to new and current customers seeking to grow the
Beacon (the "Company") (NASDAQ:BECN) the leading publicly-traded wholesale distributor specializing in roofing, waterproofing and exterior products, announced today a partnership with the U.S. Army Partnership for Your Success (PaYS) Program to provide military service members with career pathways in the roofing industry following their military service. This alliance underscores Beacon's commitment to supporting Veterans and providing career opportunities to those who have served our nation. As a PaYS Partner, Beacon will actively recruit Veterans for roles across the company, offering them the chance to build rewarding careers throughout the Company's nationwide footprint. This press rel
Expands service for commercial contractors in Los Angeles Beacon (NASDAQ:BECN) announced today that it has completed the acquisition of Roofers Mart of Southern California, Inc. ("Roofers Mart") located in Walnut, California. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20240710314693/en/Roofers Mart of Southern California, Inc. Roofers Mart has a 40-year history serving roofing contractors in the Los Angeles metro market. "We are excited to join the Beacon team. Our customers trust us to deliver top quality, which will be enhanced as we combine with Beacon to extend our expertise, scope, and size," commented Greg Robles, CEO