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Beacon Roofing Supply Inc (BECN): Significant Improvements, Worth Being Considered

Beacon Roofing Supply Inc (NASDAQ:BECN) concluded the trading at $87.28 Friday, February 09 with a rise of 1.10% from its closing price on previous day.

Taking a look at stock we notice that its last check on previous day was $86.33 and 5Y monthly beta was reading 1.63 . Considering stock’s 52-week price range provides that BECN hit a high price of $89.39 and saw its price falling to a low level of $54.60 during that period. Over a period of past 1-month, stock came adding 2.69% in its value.

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In last 7 days, analysts came adjusting their opinions about stock’s EPS with no upward and no downward revisions, an indication which could give clearer idea about the company’s short term price movement. In contrast, when we review BECN stock’s current outlook then short term indicators are assigning it an average of 50% Buy, while medium term indicators are categorizing the stock at an average of 100% Buy. Long term indicators are suggesting an average of 100% Buy for it.

Digging deeper we become aware of the PEG ratio of the BECN stock which is currently positioned at 0. It further provides that stock’s current price level is 3.62% away from its 20-day simple moving average and is 3.37% off its SMA50. Its relative strength index (RSI) for 14-periods is oscillating at 58.58 while volatility remained at 2.35% over the past week which changes to 2.60% when measuring it over the past month. Beta is valued at 1.63, while measure of average true range or ATR is currently at 2.22.

In comparing Beacon Roofing Supply Inc (BECN)’s stock with other industry players reveals that stock’s current price change of 1.10% and that of 46.30% over the past 12 months is in competing position with that of Boise Cascade Co. (BCC) which saw its stock price raised by 2.21%% in the last trading and went through an increase of 85.74% in past 12-month trading. Industry’s another major player Pool Corp. (POOL) has fall -0.18%% down in previous session, but over the past year has faced a rise of 4.72%. BlueLinx Holdings Inc. (BXC) was also up 2.66%% however its price remained floating in the green at 38.04% over the same period. Beacon Roofing Supply Inc has a P/E ratio of 0 against that of Boise Cascade Co.’s 11.13 while Pool Corp. is showing 27.97 for the same.

Having a second look at Beacon Roofing Supply Inc (NASDAQ:BECN) provides that stock’s average daily trading volume for 3 months was 705.04K, while it jumped to 0.61 million when we calculate an average volume for past 10 days. Number of outstanding shares of the stock stood at 64.20 million.

The percentage of outstanding shares held by the insiders is 0.71% while it is 84.16% for the institutional holders. The figures also indicate that as of Jan 12, 2024, number of stock’s short shares was 1.66 million which implies a short ratio of 2.14. This shows up a 2.62% of Short Interest in company’s outstanding shares on the day. In January the standing of shares short improved as it was 1.6 million in the previous month. Addition of 0.30% by stock’s current price to its year-to-date value in last trading session is likely to be increasing investors’ interest in the stock as it is hinting an extended uptrend.