Beacon Roofing Supply (BECN) Shares are Up 1.75%

Beacon Roofing Supply (BECN) has been under a strong bear grip, hence the stock is down -3.77% when compared to the S&P 500 in the past 4 weeks. However, in the near-term, buying emerged at lower levels and the stock has outperformed the S&P 500 by 1.78% in the past 1 week. The stock has risen by 1.75% in the past week indicating that the buyers are active at lower levels, but the stock is down -3.4% in the past 4 weeks.

Beacon Roofing Supply, Inc. is up 10.25% in the last 3-month period. Year-to-Date the stock performance stands at 13.11%. The stock has recorded a 20-day Moving Average of 0.07% and the 50-Day Moving Average is 1.49%.

Beacon

Beacon Roofing Supply (NASDAQ:BECN): During Fridays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $46.39 and $45.90 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $46.71. The buying momentum continued till the end and the stock did not give up its gains. It closed at $46.58, notching a gain of 0.26% for the day. The total traded volume was 308,446 . The stock had closed at $46.46 on the previous day.

Also, Jefferies initiates coverage on Beacon Roofing Supply (NASDAQ:BECN).The analysts at the brokerage house have a current rating of Hold on the shares. In a recent information released to the investors, Jefferies announces the price target of $46 per share. The rating by the firm was issued on July 6, 2016.

Beacon Roofing Supply, Inc. is engaged in distributing residential and non-residential roofing materials in the United States and Canada. The Company also distributes other complementary building materials, including siding, windows, specialty lumber products and waterproofing systems for residential and nonresidential building exteriors. As of September 30, 2013, the Company operated 236 branches in 39 states and six Canadian provinces, carrying up to 11,000 stock keeping units (SKUs). It is a distributor of roofing materials in metropolitan markets in the Northeast, Mid-Atlantic, Midwest, Central Plains, West, South and Southwest regions of the United States and across Canada. The Companys customer base consists of more than 47,000 contractors, home builders, building owners, and other resellers primarily in the Northeast, Mid-Atlantic, Midwest, Central Plains, West, South and Southwest regions of the United States and across Canada.

Comments (0)

Leave a Reply

Your email address will not be published. Required fields are marked *