QXO (QXO) has announced an extension of its all-cash tender offer aimed at acquiring all outstanding shares of Beacon Roofing Supply (BECN, Financial) at $124.35 per share. This strategic move has gained the full backing of Beacon's board of directors, who have unanimously urged shareholders to tender their shares in favor of the deal.
The revised deadline for the tender offer is set for 5:00 p.m. (New York City time) on April 28. The acquisition is anticipated to be finalized around the end of the month, provided that a majority of Beacon’s shares are tendered and other standard closing conditions are met.
Importantly, the deal has successfully secured antitrust clearance from both U.S. and Canadian regulators, paving the way for the transaction's completion.
Wall Street Analysts Forecast
Based on the one-year price targets offered by 11 analysts, the average target price for Beacon Roofing Supply Inc (BECN, Financial) is $123.93 with a high estimate of $140.00 and a low estimate of $111.71. The average target implies an upside of 0.07% from the current price of $123.85. More detailed estimate data can be found on the Beacon Roofing Supply Inc (BECN) Forecast page.
Based on the consensus recommendation from 14 brokerage firms, Beacon Roofing Supply Inc's (BECN, Financial) average brokerage recommendation is currently 2.9, indicating "Hold" status. The rating scale ranges from 1 to 5, where 1 signifies Strong Buy, and 5 denotes Sell.
Based on GuruFocus estimates, the estimated GF Value for Beacon Roofing Supply Inc (BECN, Financial) in one year is $100.53, suggesting a downside of 18.83% from the current price of $123.85. GF Value is GuruFocus' estimate of the fair value that the stock should be traded at. It is calculated based on the historical multiples the stock has traded at previously, as well as past business growth and the future estimates of the business' performance. More detailed data can be found on the Beacon Roofing Supply Inc (BECN) Summary page.
