Taking a look at what insiders are doing to gauge the Beacon Roofing Supply Inc. (BECN)’s direction – Knox Daily
Investors can expect a company’s stock to rise or fall based on the buying and selling of stock by its insiders. Beacon Roofing Supply Inc. shares valued at $239,126 were sold by Nelson Christopher Carl on Nov 15. At $58.71 per share, Nelson Christopher Carl sold 4,073 shares. The insider’s holdings dropped to 1,450 shares worth approximately $76995.0 following the completion of this transaction.
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Also, Nelson Christopher Carl sold 12,643 shares, netting a total of over 740,126 in proceeds. Following the sale of shares at $58.54 each, the insider now holds 0 shares.
Before that, Harrell Martin S. had added 9,009 shares to its account. In a trade valued at $500,000, the President, Waterproofing bought Beacon Roofing Supply Inc. shares for $55.50 each. Upon closing the transaction, the insider’s holdings increased to 9,009 shares, worth approximately $0.48 million.
As published in a research note from Robert W. Baird on October 14, 2022, Beacon Roofing Supply Inc. [BECN] has been rated down from an Outperform to a Neutral and the price target has been revised to $65 from $77. This represents a 18.31% premium over Thursday’s closing price. Analysts at Deutsche Bank started covering the stock with ‘”a Buy”‘ outlook in a report released in mid August. As of July 19, 2022, William Blair has decreased its “an Outperform” rating to a “Mkt perform” for BECN. Earlier on June 22, 2022, RBC Capital Mkts downgraded its rating. Their new recommendation was “a Sector perform” for BECN stock which previously was a “an Outperform”.
Analyzing BECN Stock Performance
On Thursday, Beacon Roofing Supply Inc. [NASDAQ: BECN] plunged -3.61% to $53.10. The stock’s lowest price that day was $52.86, but it reached a high of $55.02 in the same session. During the last five days, there has been a drop of approximately -2.12%. Over the course of the year, Beacon Roofing Supply Inc. shares have jumped approximately 0.59%. Shares of the company reached a 52-week high of $56.05 on 01/18/23 and a 52-week low of $50.42 on 01/10/23. A 50-day SMA is recorded $55.99, while a 200-day SMA reached $57.03. Nevertheless, trading volume fell to 0.5 million shares from 0.29 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 52.30, which, if violated, …….