In a filing, Beacon Roofing Supply Inc revealed its EVP & CTO Nelson Christopher Carl unloaded Company’s shares for reported $0.31 million on Mar 28 ’24. In the deal valued at $93.87 per share,3,268 shares were sold. As a result of this transaction, Nelson Christopher Carl now holds 176 shares worth roughly $17550.72.
Then, Taylor Jason L sold 1,805 shares, generating $171,475 in total proceeds. Upon selling the shares at $95.00, the President, West Division now owns 10,531 shares.
Before that, Taylor Jason L sold 1,806 shares. Beacon Roofing Supply Inc shares valued at $160,282 were divested by the President, West Division at a price of $88.75 per share. As a result of the transaction, Taylor Jason L now holds 11,178 shares, worth roughly $1.11 million.
Robert W. Baird upgraded its Beacon Roofing Supply Inc [BECN] rating to an Outperform from a a Neutral in a research note published on February 29, 2024; the price target was increased to $115 from $99. A number of analysts have revised their coverage, including William Blair’s analysts, who increased its forecast for the stock in early January from “a Mkt perform” to “an Outperform”. JP Morgan also remained covering BECN and has increased its forecast on December 14, 2023 with a “an Overweight” recommendation from previously “Neutral” rating. RBC Capital Mkts revised its rating on October 05, 2023. It rated BECN as “an Outperform” which previously was an “a Sector perform”.
Price Performance Review of BECN
On Tuesday, Beacon Roofing Supply Inc [NASDAQ:BECN] saw its stock fall -1.52% to $99.72. Over the last five days, the stock has lost -0.31%. Beacon Roofing Supply Inc shares have risen nearly 14.59% since the year began. Nevertheless, the stocks have risen 81.64% over the past one year. While a 52-week high of $102.83 was reached on 04/05/24, a 52-week low of $54.90 was recorded on 01/24/24. SMA at 50 days reached $89.41, while 200 days put it at $82.58. A total of 0.56 million shares were traded, compared to the trading of 0.76 million shares in the previous session.
Levels Of Support And Resistance For BECN Stock
The 24-hour chart illustrates a support level at 98.82, which if violated will result in even more drops to 97.93. On the upside, there is a resistance level at 101.24. A further resistance level may holdings at 102.76. The Relative Strength Index (RSI) on the 14-day chart is 69.17, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 3.06, which suggests price will go up in the next trading period. Percent R suggests that price movement has been low at 30.40%. Stochastics %K at 84.47% indicates the stock is a selling.
How much short interest is there in Beacon Roofing Supply Inc?
A steep rise in short interest was recorded in Beacon Roofing Supply Inc stocks on Mar 28, 2024, dropping by -0.56 million shares to a total of 1.11 million shares. Yahoo Finance data shows the prior-month short interest on Feb 29, 2024 was 1.67 million shares. There was a decline of -50.45%, which implies that there is a negative sentiment for the stock. In spite of short shares comprising just 2.24% of the overall stock float, the days-to-cover ratio (short ratio) fell to 1.61.
