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 $725,792 were purchased by CLEMENT MUNROE BEST III on Nov 08 ’24. At $103.14 per share, CLEMENT MUNROE BEST III acquired 7,037 shares.
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Also, Best Clement Munroe III sold 7,037 shares, netting a total of over 725,796 in proceeds. Following the sale of shares at $103.14 each, the insider now holds 69,449 shares.
Before that, Best Clement Munroe III had sold 5,637 shares from its account. In a trade valued at $566,350, the President, South Division traded Beacon Roofing Supply Inc shares for $100.47 each. Upon closing the transaction, the insider’s holdings decreased to 5,637 shares, worth approximately $7.12 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 1.65%. Over the course of the year, Beacon Roofing Supply Inc shares have jumped approximately 17.65%. Shares of the company reached a 52-week high of $105.84 on 11/11/24 and a 52-week low of $77.54 on 08/05/24. A 50-day SMA is recorded $90.89, while a 200-day SMA reached $92.00. Nevertheless, trading volume fell to 0.66 million shares from 0.92 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 101.06, which, if violated, would cause prices to drop to 99.74. In the upper region, resistance lies at 104.74. The next price resistance is at 107.09. RSI (Relative Strength Index) is 64.27 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 6.08, which suggests the price will increase in the coming days. Percent R is at 24.08%, indicating bullish price movement. Stochastics %K at selling indicates that the stock is to be held.
