Beacon Roofing Supply (NASDAQ:BECN) : Traders are bullish on Beacon Roofing Supply (NASDAQ:BECN) as it has outperformed the S&P 500 by a wide margin of 7.76% in the past 4 weeks. The bullishness in the stock continues even in the near-term as the stock has returned an impressive 1.65%, relative to the S&P 500. The stock has continued its bullish performance both in the near-term and the medium-term, as the stock is up 2.96% in the last 1 week, and is up 9.5% in the past 4 weeks. Buying continues as the stock moves higher, suggesting a strong appetite for the stock.
The company shares have rallied 48.78% from its 1 Year high price. On Jul 8, 2016, the shares registered one year high at $47.96 and the one year low was seen on Jul 24, 2015. The 50-Day Moving Average price is $43.78 and the 200 Day Moving Average price is recorded at $40.88.
The stock has recorded a 20-day Moving Average of 7.91% and the 50-Day Moving Average is 10.23%.
Beacon Roofing Supply (NASDAQ:BECN): stock turned positive on Friday. Though the stock opened at $47.31, the bulls momentum made the stock top out at $47.96 level for the day. The stock recorded a low of $47.2 and closed the trading day at $47.73, in the green by 1.51%. The total traded volume for the day was 729,187. The stock had closed at $47.02 in the previous days trading.
In an insider trading activity, Buck Robert R, Director Officer (Chairman) of BEACON ROOFING SUPPLY INC, unloaded 17,556 shares at an average price of $45.37 on June 23, 2016. The total amount of the transaction was worth $796,516, according to the disclosed information with the Securities and Exchange Commission in a Form 4 filing.
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.