Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. Beacon Roofing Supply Inc shares valued at $269,230 were sold by Nelson Christopher Carl on Jun 28 ’24. At $91.11 per share, Nelson Christopher Carl sold 2,955 shares. The insider’s holdings dropped to 320 shares worth approximately $31472.0 following the completion of this transaction.
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Also, Francis Julian sold 9,841 shares, netting a total of over 963,532 in proceeds. Following the sale of shares at $97.91 each, the insider now holds 90,245 shares.
Before that, Nelson Christopher Carl had sold 3,268 shares from its account. In a trade valued at $306,767, the EVP & CTO traded Beacon Roofing Supply Inc shares for $93.87 each. Upon closing the transaction, the insider’s holdings decreased to 3,268 shares, worth approximately $17309.6.
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 surge of approximately 0.67%. Over the course of the year, Beacon Roofing Supply Inc shares have jumped approximately 13.02%. Shares of the company reached a 52-week high of $103.75 on 05/03/24 and a 52-week low of $81.61 on 01/24/24. A 50-day SMA is recorded $95.35, while a 200-day SMA reached $88.15. Nevertheless, trading volume fell to 0.57 million shares from 0.58 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 96.17, which, if violated, would cause prices to drop to 94.00. In the upper region, resistance lies at 100.42. The next price resistance is at 102.50. RSI (Relative Strength Index) is 55.61 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 1.78, which suggests the price will increase in the coming days. Percent R is at 35.04%, indicating low price movement. Stochastics%K at holding indicates that the stock is to be held.
