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Monitoring Beacon Roofing Supply Inc (BECN) after recent insider movements

Beacon Roofing Supply Inc’s recent filing unveils that 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 $16401.44.

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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 $1.04 million.

The Benchmark Company initiated its Beacon Roofing Supply Inc [BECN] rating to a Buy in a research note published on April 18, 2024; the price target was $135. A number of analysts have revised their coverage, including Robert W. Baird’s analysts, who increased its forecast for the stock in late February from “a Neutral” to “an Outperform”. William Blair also remained covering BECN and has increased its forecast on January 08, 2024 with a “an Outperform” recommendation from previously “Mkt perform” rating. JP Morgan revised its rating on December 14, 2023. It rated BECN as “an Overweight” which previously was an “a Neutral”.

Price Performance Review of BECN

On Monday, Beacon Roofing Supply Inc [NASDAQ:BECN] saw its stock jump 0.26% to $93.19. Over the last five days, the stock has lost -2.38%. Beacon Roofing Supply Inc shares have risen nearly 7.09% since the year began. Nevertheless, the stocks have risen 57.20% over the past one year. While a 52-week high of $103.75 was reached on 05/03/24, a 52-week low of $57.88 was recorded on 01/24/24. SMA at 50 days reached $94.36, while 200 days put it at $84.12. A total of 0.7 million shares were traded, compared to the trading of 0.5 million shares in the previous session.

Levels Of Support And Resistance For BECN Stock

The 24-hour chart illustrates a support level at 92.21, which if violated will result in even more drops to 91.24. On the upside, there is a resistance level at 94.93. A further resistance level may holdings at 96.67. The Relative Strength Index (RSI) on the 14-day chart is 41.57, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -2.74, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bearish at 91.10%. Stochastics %K at 8.76% indicates the stock is a buying.

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