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 $565,921 were purchased by CLEMENT MUNROE BEST III on Nov 06 ’24. At $100.39 per share, CLEMENT MUNROE BEST III acquired 5,637 shares.
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Also, JAMES JAKE GOSA purchased 12,734 shares, netting a total of over 1,276,851 in proceeds.
Before that, Taylor Jason L had sold 2,600 shares from its account. In a trade valued at $234,000, the President, West Division traded Beacon Roofing Supply Inc shares for $90.00 each. Upon closing the transaction, the insider’s holdings decreased to 2,600 shares, worth approximately $0.92 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 5.50%. Over the course of the year, Beacon Roofing Supply Inc shares have jumped approximately 15.74%. 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 $89.34, while a 200-day SMA reached $91.51. Nevertheless, trading volume fell to 1.12 million shares from 0.38 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 98.18, which, if violated, would cause prices to drop to 95.64. In the upper region, resistance lies at 103.04. The next price resistance is at 105.36. RSI (Relative Strength Index) is 66.97 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 2.07, which suggests the price will increase in the coming days. Percent R is at 18.50%, indicating bullish price movement. Stochastics %K at holding indicates that the stock is to be held.
