BECN Stock Summary and Trading Ideas (Beacon Roofing Supply | NASDAQ:BECN)

Beacon Roofing Supply Inc manufactures and sells roofing and building materials throughout the United States and Canada. Beacon's key customers consist of contractors, home builders, lumberyards, retailers, wholesale distributors, and building materials suppliers. The company's product portfolio includes both residential and non-residential roofing materials, siding, windows, and waterproofing systems. The majority of revenue is generated from residential and non-residential roofing products. The vast majority of Beacon's revenue comes from the United States.

Beacon Roofing Supply trades on the NASDAQ stock market under the symbol BECN.

As of April 30, 2024, BECN stock price declined to $98.53 with 1,291,443 million shares trading.

BECN has a beta of 1.26, meaning it tends to be more sensitive to market movements. BECN has a correlation of 0.37 to the broad based SPY ETF.

BECN has a market cap of $6.24 billion. This is considered a Mid Cap stock.

Last quarter Beacon Roofing Supply reported $2 billion in Revenue and $1.72 earnings per share. This beat revenue expectation by $40 million and exceeded earnings estimates by $.06.

In the last 3 years, BECN stock traded as high as $102.83 and as low as $45.71.

The top ETF exchange traded funds that BECN belongs to (by Net Assets): VTI, VB, IWM, VBR, VXF.

BECN has outperformed the market in the last year with a price return of +63.7% while the SPY ETF gained +22.3%. BECN has also outperformed the stock market ETF in the last 3 month and 2 week periods returning +15.2% and +2.4%, respectively, while the SPY returned +2.5% and -0.5%, respectively.

BECN support price is $97.30 and resistance is $100.70 (based on 1 day standard deviation move). This means that using the most recent 20 day stock volatility and applying a one standard deviation move around the stock's closing price, stastically there is a 67% probability that BECN stock will trade within this expected range on the day.