While Beacon Roofing Supply Inc has overperformed by 2.44%, investors are advised to look at stock chart patterns for technical insight. Within its last year performance, BECN rose by 14.10%, with highs and lows ranging from $105.42 to $68.50, whereas the simple moving average fell by -3.23% in the last 200 days.
On April 18, 2024, The Benchmark Company started tracking Beacon Roofing Supply Inc (NASDAQ: BECN) recommending Buy. A report published by Robert W. Baird on February 29, 2024, Upgraded its rating to ‘Outperform’ for BECN. JP Morgan December 14, 2023d the rating to Overweight on December 14, 2023, and set its price target from $86 to $103. RBC Capital Mkts October 05, 2023d its ‘Sector Perform’ rating to ‘Outperform’ for BECN, as published in its report on October 05, 2023. Robert W. Baird’s report from October 14, 2022 suggests a price prediction of $65 for BECN shares, giving the stock a ‘Neutral’ rating. Deutsche Bank also rated the stock as ‘Buy’.
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Analysis of Beacon Roofing Supply Inc (BECN)
Further, the quarter-over-quarter increase in sales is 6.83%, showing a positive trend in the upcoming months.
Beacon Roofing Supply Inc’s future performance can be determined with the help of several well-rounded types of analysis and research techniques, with equity being one of the most influential. The goal here is to ensure that your current return on equity of 18.28% is sufficient for you to turn a profit off your investment. Taking into account the quick ratio of the company, currently set at 1.09, you can see that the company can cover any debts it may have, which can easily be seen in the annual report of the company.
The average volume for any stock is also a very valuable indicator of volatility, and BECN has an average volume of 759.06K. On a monthly basis, the volatility of the stock is set at 2.92%, whereas on a weekly basis, it is put at 2.66%, with a gain of 7.92% over the past seven days. Furthermore, long-term investors anticipate a median target price of $111.64, showing growth from the present price of $87.46, which can serve as yet another indication of whether BECN is worth investing in or should be passed over.
How Do You Analyze Beacon Roofing Supply Inc Shares?
In addition to analyzing the fundamentals, it is also important to look at how many company employees own stock. This is because the values should be in line with investors’ expectations. As such, the current holdings of company stock inside the company are set at 0.77%. This can enable you to see the extent to which executives own the company’s stock. As opposed to executive stock, institutional ownership accounts for 98.56% of the company’s shares, contributing to an indication of company value, since large shareholders may signify strength within the organization.
BECN shares are owned by institutional investors to the tune of 98.56% at present.
