The buying and selling of stock by a company’s insider give investors a sense that the stock will rise or fall in the future. Beacon Roofing Supply Inc shares valued at $306,767 were sold by Nelson Christopher Carl on Mar 28 ’24. At $93.87 per share, Nelson Christopher Carl sold 3,268 shares. The insider’s holdings dropped to 176 shares worth approximately $16441.920000000002 following the completion of this transaction.
Also, Taylor Jason L sold 1,805 shares, netting a total of over 171,475 in proceeds. Following the sale of shares at $95.00 each, the insider now holds 10,531 shares.
Before that, Taylor Jason L had sold 1,806 shares from its account. In a trade valued at $160,282, the President, West Division traded Beacon Roofing Supply Inc shares for $88.75 each. Upon closing the transaction, the insider’s holdings decreased to 1,806 shares, worth approximately $1.04 million.
As published in their initiating research note from The Benchmark Company on April 18, 2024, Beacon Roofing Supply Inc [BECN] has been a Buy and the price target has been revised to $135. Analysts at Robert W. Baird upgraded the stock from ‘”a Neutral”‘ to ‘”an Outperform”‘ outlook in a report released in late February. As of January 08, 2024, William Blair has increased its “Mkt perform” rating to a “an Outperform” for BECN. Earlier on December 14, 2023, JP Morgan upgraded its rating. Their new recommendation was “an Overweight” for BECN stock which previously was a “a Neutral”.
Analyzing BECN Stock Performance
During the last five days, there has been a drop of approximately -4.54%. Over the course of the year, Beacon Roofing Supply Inc shares have jumped approximately 7.35%. Shares of the company reached a 52-week high of $102.83 on 04/05/24 and a 52-week low of $81.61 on 01/24/24. A 50-day SMA is recorded $91.09, while a 200-day SMA reached $83.08. Nevertheless, trading volume fell to 0.9 million shares from 0.41 million shares the previous day.
Support And Resistance Levels for Beacon Roofing Supply Inc (BECN)
According to the 24-hour chart, there is a support level at 92.10, which, if violated, would cause prices to drop to 90.79. In the upper region, resistance lies at 94.63. The next price resistance is at 95.85. RSI (Relative Strength Index) is 44.31 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -4.53, which suggests the price will decrease in the coming days. Percent R is at 86.89%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.
