Avoid the stress of overpaying for a stock or missing an opportunity by using the right tools and insights to evaluate Beacon Roofing Supply Inc before investing.

In this article, we go over a few key elements for understanding Beacon Roofing Supply Inc’s stock price such as:

• Beacon Roofing Supply Inc’s current stock price and volume
• Why Beacon Roofing Supply Inc’s stock price changed recently
• Upgrades and downgrades for BECN from analysts
• BECN’s stock price momentum as measured by its relative strength

About Beacon Roofing Supply Inc (BECN)

Before we jump into Beacon Roofing Supply Inc’s stock price, history, target price and what caused it to recently rise, let’s take a look at some background.

Beacon Roofing Supply, Inc. is a distributor of roofing materials and complementary building products, such as siding and waterproofing in North America. The Company’s product lines are designed to meet the requirements of its residential, non-residential, and complementary building products customers. It maintains a fleet of 1,667 straight trucks, 742 tractors and 985 trailers. Its various delivery vehicles are equipped with specialized equipment, including 2,380 truck-mounted forklifts, cranes, hydraulic booms, and conveyors. Its private label brand includes TRI-BUILT. In the residential market, its main product is asphalt shingles. In the non-residential market, single-ply membranes, insulation, and accessories are its main product offerings. The Company serves professional contractors, home builders, building owners, lumberyards, and retailers the United States and Canada who depend on reliable local access to building products for residential across and non-residential projects.

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Beacon Roofing Supply Inc’s Stock Price as of Market Close

As of May 15, 2024, 4:00 PM, CST, Beacon Roofing Supply Inc’s stock price was $99.97.

Beacon Roofing Supply Inc is up 4.24% from its previous closing price of $95.90.

During the last market session, Beacon Roofing Supply Inc’s stock traded between $93.33 and $96.28. Currently, there are 63.60 million shares of Beacon Roofing Supply Inc stock available for purchase.

Unfortunately, Beacon Roofing Supply Inc’s P/E ratio is not significant enough to use for stock price evaluation. We recommend investors evaluate other financial metrics to understand its overall valuation.

Beacon Roofing Supply Inc Stock Price History

Beacon Roofing Supply Inc’s (BECN) price is currently up 1.46% so far this month.

During the month of May, Beacon Roofing Supply Inc’s stock price has reached a high of $103.75 and a low of $92.16.

Over the last year, Beacon Roofing Supply Inc has hit prices as high as $103.75 and as low as $60.85. Year to date, Beacon Roofing Supply Inc’s stock is up 89.37%.

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What Caused Beacon Roofing Supply Inc Stock’s Price to Rise?

Stock prices are primarily based on seller supply and buyer demand. But have you ever wondered about what other factors affect a stock's price?

When an analyst changes their opinion of a stock by upgrading or downgrading their rating, it often leads to a sudden stock price adjustment. As of May 14, 2024, there were 3 analysts who downgraded Beacon Roofing Supply Inc’s stock and 6 analysts who upgraded over the last month.

Additionally, you'll want to evaluate Beacon Roofing Supply Inc’s financial health and valuation. Investors can use AAII's Value Grade, which combines six key valuation metrics like P/E and P/S ratios for a comprehensive analysis to conduct analysis on Beacon Roofing Supply Inc’s valuation and financial health. This approach mitigates the limitations of single-metric evaluations.

Beacon Roofing Supply Inc’s current valuation based on AAII’s Value Grade is a C, which means it is considered to be Average.

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Lastly, news and media coverage as well as recent press reports about the company or its industry may cause stock prices to fluctuate. You can check out the most recent news articles about Beacon Roofing Supply Inc (BECN) by visiting AAII Stock Evaluator.

Relative Price Strength of Beacon Roofing Supply Inc

Relative price strength measures a stock's performance against the market, helping investors identify stocks that are outperforming benchmarks.

For AAII’s Momentum Grade, a weighted relative price strength is calculated. Follow this link to learn more about the Momentum Grade.

As of May 14, 2024, Beacon Roofing Supply Inc has a weighted four-quarter relative price strength of 5.42%, which translates to a Momentum Score of 78 and is considered to be Strong.

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Beacon Roofing Supply Inc Stock Price: Bottom Line

As of May 15, 2024, Beacon Roofing Supply Inc’s stock price is $99.97, which is up 4.24% from its previous closing price.

AAII advises against making stock decisions based solely on price or past returns. Instead, consider a variety of metrics, fundamentals, and analytics to evaluate a stock like Beacon Roofing Supply Inc stock prices are influenced by market supply and demand and offer just a snapshot of a company's overall health.

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