BECN Price Prediction Next Week
Analysis and Insights
Based on the provided data and analysis, here is the prediction for Beacon Roofing Supply (BECN) stock price for the next trading week:
News Impact Analysis:
- Acquisition Talks: QXO is in negotiations to acquire Beacon Roofing Supply for $124.35 per share in cash, representing a premium to the current stock price. This has led to an 8% increase in BECN's stock price.
- Hostile Takeover Attempt: Beacon has implemented a "poison pill" defense and rejected previous offers, but QXO has extended its tender offer deadline and proposed new board nominees.
- CEO's Commitment: QXO's CEO has emphasized respect for Beacon's employees and a commitment to their input, which may positively influence investor sentiment.
Technical Analysis:
- Current Price: $119.52 as of 2025-03-10.
- RSI: BECN's RSI values (27.24, 34.37, 36.91) indicate the stock is in oversold territory, suggesting a potential rebound.
- MACD: The MACD is negative but showing a small bullish divergence, indicating potential buying interest.
- Stochastic Oscillator: Oversold conditions (19.17%K, 16.91%D) suggest a possible short-term bounce.
- Fibonacci Levels: The stock is near the lower end of the Fibonacci range, with support at $110.70 and resistance at $117.24.
Price Prediction:
Given the acquisition talks and oversold technical indicators, BECN's stock is likely to rise toward the offer price of $124.35. The stock could reach $124.00 by the end of the next trading week.
Buy/Sell Recommendation:
Buy. The combination of positive news sentiment and oversold technical conditions suggests a short-term upward movement.
BECN Similar Chart Price Prediction
The price of BECN is predicted to go up 6.33%, based on the high correlation periods with KTTA. The similarity of these two price pattern on the periods is 97.44%.
BECN
KTTA
Up: 6.33%Similarity: 97.44%
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BECN Analyst's Forecast
Ketan Mamtora
BMO Capital
Buy
2025-03-04
Price Target
$136 → $130
Upside
+15.79%
BMO Capital lowered the firm's price target on Beacon to $130 from $136 and keeps an Outperform rating on the shares. The company's eary 2025 weakness is mostly driven by weather, though housing demand is also soft, the analyst tells investors in a research note. Intrinsic value for the stock is in the mid-$130s but the pathway to that value has become tougher in the near term with housing demand flat/down and timeline on a rebound getting pushed out, the firm added.
W. Andrew Carter
Stifel
Strong Buy → Hold
2025-02-07
Price Target
$131 → $123
Upside
+2.7%
W. Andrew Carter
Stifel
Strong Buy
2025-01-17
Price Target
$115 → $131
Upside
+13.43%
