Beacon Roofing Supply (BECN) : Thursdays money flow data in Beacon Roofing Supply (BECN) suggests that the bulls made the most of the weakness in the stock. The inflow of money into the stock on upticks was $10.84 million, whereas, $5.73 million worth of transactions were done on downticks. The ratio between the two, uptick and downtick stood at 1.89, in favor of the bulls. The total money flow into the stock was $5.11 million clearly indicating that the smart money has been buying into the stock on weakness.
In comparison, the money flow in block deals was $3.92 million. The total value of block trades done on upticks was $5.07 million. The value of bearish trades on downticks was only $1.15 million.The up/down ratio in the block trades was a healthy 4.41 in favor of the bulls, suggesting strong buying in the stock by large traders. Beacon Roofing Supply (BECN) fell $0.01 and traded at $46.61, down -0.02% for the day, over previous days close. On a weekly basis, the shares are 0.54% over the previous weeks close.
Beacon Roofing Supply (BECN) : The highest short term price target forecast on Beacon Roofing Supply (BECN) is $55 and the lowest target price is $42. A total of 7 equity analysts are currently covering the company. The average price of all the analysts is $49.43 with a standard deviation of $4.24. The stock has recorded a 20-day Moving Average of 6.77% and the 50-Day Moving Average is 8.74%.
Beacon Roofing Supply (NASDAQ:BECN): During Thursdays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $47.00 and $46.57 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $47.59. The buying momentum continued till the end and the stock did not give up its gains. It closed at $47.02, notching a gain of 0.86% for the day. The total traded volume was 957,604 . The stock had closed at $46.62 on the previous day.
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.