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 $234,000 were sold by Taylor Jason L on Oct 07 ’24. At $90.00 per share, Taylor Jason L sold 2,600 shares. The insider’s holdings dropped to 9,131 shares worth approximately $0.83 million following the completion of this transaction.
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Also, JASON TAYLOR purchased 2,600 shares, netting a total of over 230,750 in proceeds.
Before that, Taylor Jason L had sold 2,500 shares from its account. In a trade valued at $199,451, the President, West Division traded Beacon Roofing Supply Inc shares for $79.78 each. Upon closing the transaction, the insider’s holdings decreased to 2,500 shares, worth approximately $1.06 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 surge of approximately 4.79%. Over the course of the year, Beacon Roofing Supply Inc shares have jumped approximately 4.32%. Shares of the company reached a 52-week high of $105.42 on 07/31/24 and a 52-week low of $77.54 on 08/05/24. A 50-day SMA is recorded $86.37, while a 200-day SMA reached $90.74. Nevertheless, trading volume fell to 0.76 million shares from 0.62 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 88.64, which, if violated, would cause prices to drop to 86.50. In the upper region, resistance lies at 92.30. The next price resistance is at 93.82. RSI (Relative Strength Index) is 56.00 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 5.09, which suggests the price will increase in the coming days. Percent R is at 47.79%, indicating low price movement. Stochastics %K at holding indicates that the stock is to be held.
