Beacon Roofing Supply moved up less than 1% today. The market isn't being very decisive in its valuation of Building Materials company. It looks like BECN could be hitting an upward sloping resistance line. Most traders won't try to short a stock when the line is upsloping.
But it may be a good time to take profit or wait for a better entry point for a long position. Beacon Roofing Supply has been drifting up over the last few months, we'll see if it has the energy to break through or if buyers decide to take profit.
If it breaks through the resistance level, we aren't seeing any clear resistance points beyond that. So it may have plenty of room to work up from there. If the price reverses and heads back down lower, it looks like the nearest support level is $111.1 it may head back up from there or break lower.
The analysts are pretty neutral on Beacon Roofing Supply right now, so not much useful information here. The current Analysts Sentiment Score is 0.26. Most companies range between (-200 to 200).
Here's a break down of the latest rating changes. JPMorgan Chase & Co. provided a price target decease of -5.83% to $97.00 from $103.00 on 2024-01-11. William Blair upgraded from Market Perform to Outperform on 2024-01-08. On 2023-12-19 Stifel Nicolaus increased their price target by 3.48% to $119.00. Truist Financial decided to move down their price target on 2023-10-17 to $80.00 which is a -15.79% decrease. On 2023-10-12 Jefferies Financial Group lowered their price target by -3.26% to $89.00. Royal Bank of Canada announced an upgrade on 2023-10-05 from Sector Perform to Outperform and moved up their price target to $94.00 which is a 3.3% increase. Deutsche Bank Aktiengesel gave a boost to their price target and moved to $108.00 from $102.00 on 2023-08-08. Raymond James gave a boost to their price target and moved to $95.00 from $75.00 on 2023-08-07. Robert W. Baird provided a price target boost of 25% to $95.00 from $76.00 on 2023-07-10. BMO Capital Markets provided a price target boost of 20% to $90.00 from $75.00 on 2023-06-16.
| Company | Ratings Score
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Composite analyst sentiment score
|
Positive Ratings | Negative Ratings | Boost Price Target | Lower Price Target |
|---|---|---|---|---|---|
| BECN | 0.26 | 0.96 | -0.45 | 0.45 | -0.45 |
| Company | YOY Growth Score (typical -20 to +20) | Revision Directions (-6 to +6) |
|---|---|---|
| BECN | 0.00 | 0.00 |
We take into account several different measures of short interest to create a composite score. These measures are shown in the chart below. Short selling is when investors are betting against a stock. We compile these factors to create a dynamic Short Score - this can indicate poor sentiment, internal problems with a company or industry and the anticipation of future price declines. We look at the short interest percent, days to cover, the rate of change and total shares sold short.
| Company | Short Score (typical 1-15)
?
We take into account several different measures and attributes of short interest to create a composite sentiment score. typical range (0 - 30)
|
Short Interest | Days to Cover | Rate of Change | Shares Short |
|---|---|---|---|---|---|
| BECN | 4.08 | %4 | 4.1 | 1.122 | 2080000 |
| Segment | Count | 1 Day% | 5 Day | 1 Month | 3 Month | 6 Month | 1 Year | RSI | 3mo S-momo ? | 6mo S-momo | 1yr S-momo | Resistance ? | Support | Demark Sell ? | Demark Buy | Short Interest | Analysts Ratings ? |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Building Materials | 25 | 2.44 | 0.28 | 0.59 | -11.06 | -14.65 | -11.06 | 46.68 | -32.83 | -16.25 | -23.49 | -19929.27 | -6052.00 | 18.00 | 0.00 | 3.71 | 0.91 |
| Basic Materials | 123 | 1.26 | -1.70 | -0.60 | -5.57 | -14.35 | -12.26 | 46.43 | -33.58 | -25.87 | -31.17 | -20022.00 | -4810.39 | 10.57 | 2.03 | 3.72 | 0.47 |
Social Sentiment is an aggregation of several different factors such as news, articles, blogs, user content, ratings, etc. Which is shown in the chart below. It may become predictive of a reversal if price and the sentiment diverge. Broader market forces may push prices up or down but if market participants maintain a different view on a specific stock, it may be taken as an opportunity to buy or sell in those cases.
| Ticker | Social Sentiment(1-10) |
|---|---|
| BECN |
| Company | Score | 1 Day% | 5 Day | 1 Month | 3 Month | 6 Month | 1 Year | RSI | 3mo S-momo ? | 6mo S-momo | 1yr S-momo | Resistance ? | Support | Demark Sell ? | Demark Buy | Short Interest Score |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| JELD | JELD-WEN Holding, Inc. | 1.36 | 4.28 | -2.87 | 2.87 | -22.62 | -62.45 | -70.18 | 50 | -85.74 | -75.47 | -117.95 | -81254.95 | -2197.59 | 0 | 0 | 3.65736 |
| EXP | Eagle Materials, Inc. | 1.34 | 3.39 | 4.15 | 6.53 | -3.64 | -17.15 | -10.92 | 65 | -47.38 | -18.86 | -18.73 | -9119.78 | -1878.03 | 100 | 0 | 1.72473 |
| OC | Owens Corning | 1.29 | 2.16 | 0.03 | 1.09 | -14.02 | -15.67 | -11.77 | 46 | -22.62 | -14.87 | -19.16 | -14866.82 | -294.00 | 0 | 0 | 2.06874 |
| WCC | Wesco International Inc. | 1.24 | 3.82 | -0.47 | -3.26 | -11.64 | -2.45 | -5.28 | 40 | -8.30 | -5.84 | -5.71 | -12361.77 | -327.43 | 0 | 0 | 2.60798 |
| NVT | nVent Electric plc Ordina | 1.23 | 3.21 | 0.62 | -1.10 | -22.99 | -20.17 | -26.95 | 33 | -59.96 | -25.98 | -36.24 | -22909.88 | -192.61 | 0 | 0 | 1.21478 |
| BLD | TopBuild Corp. Common Sto | 1.23 | 2.54 | 0.64 | 2.51 | -2.10 | -23.09 | -27.74 | 56 | -54.42 | -60.43 | -49.75 | -26524.46 | -573.32 | 0 | 0 | 3.61868 |
How to use: use the research links to research the asset. Then simply type in a score for each category between (01, 02, 03, 04, 05). 05 being the most bullish and 01 being the most bearish. It will automatically calculate the average and combine it with the technical score to create an overall score to rank prospects by. You can also type notes into each field.
