Stocks Showing Improved Relative Strength: Beacon Roofing Supply

The relative strength (RS) rating for Beacon roofing delivery (BECN) entered a higher percentile on Thursday, as it rose from 70 to 74.

When researching the best stocks to buy and watch, keep a close eye on relative price strength.

IBD’s proprietary RS Rating identifies market leadership by using a score from 1 (worst) to 99 (best) indicating how a stock’s price action over the past 52 weeks compares to other publicly traded companies.

Decades of market research shows that the stocks that make the biggest gains often have an RS rating of 80 or better as they embark on their biggest runs. See if Beacon Roofing Supply can continue to recover and meet that benchmark.

Looking for winning stocks? Try this simple routine

Beacon Roofing Supply is working on a consolidation with an enrollment of 61.03. See if the stock can make the breakout price in volume at least 40% higher than normal.

Top and bottom line growth surged higher in the company’s most recent quarter. Earnings rose 144%, compared to 0% in the previous report. Turnover increased from 10% to 21%.

Beacon Roofing Supply ranks 10th among its peers in the Retail/Wholesale-Building Products industry group. bluelinx (BXC) and SiteOne Landscape Supply (SITE) are also among the group’s highest-rated stocks.

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