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 dip, 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.

Want to learn more about Beacon Roofing Supply Inc’s stock? Click the button below to subscribe to A+ Investor and get access to everything you need to know about Beacon Roofing Supply Inc.

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

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 June 28, 2024, there were 6 analysts who downgraded Beacon Roofing Supply Inc’s stock and 9 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.

Learn how to evaluate stocks with AAII Grades and Scores with A+ Investor today.

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 June 28, 2024, Beacon Roofing Supply Inc has a weighted four-quarter relative price strength of -5.15%, which translates to a Momentum Score of 51 and is considered to be Average.

Want to learn more about how Beacon Roofing Supply Inc is graded based on AAII’s composite scores for value, growth, quality and earnings estimate revisions? Subscribe to A+ Investor today.

Beacon Roofing Supply Inc Stock Price: Bottom Line

As of July 1, 2024, Beacon Roofing Supply Inc’s stock price is $86.84, which is down 4.04% 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.

Subscribing to AAII's A+ Investor provides access to comprehensive analytics and insights for confident investing.