Builders FirstSource (NYSE:BLDR) Downgraded by StockNews.com to “Hold”

by · The Markets Daily

StockNews.com cut shares of Builders FirstSource (NYSE:BLDR – Free Report) from a buy rating to a hold rating in a report released on Wednesday.

Several other equities research analysts have also recently weighed in on the company. Truist Financial upgraded Builders FirstSource from a “hold” rating to a “buy” rating and upped their target price for the stock from $165.00 to $220.00 in a research note on Monday, September 16th. DA Davidson increased their price target on Builders FirstSource from $169.00 to $175.00 and gave the stock a “neutral” rating in a report on Wednesday. Baird R W upgraded Builders FirstSource from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, August 7th. UBS Group started coverage on Builders FirstSource in a research note on Friday, October 25th. They issued a “buy” rating and a $232.00 target price for the company. Finally, Loop Capital raised their price target on shares of Builders FirstSource from $190.00 to $230.00 and gave the company a “buy” rating in a research report on Friday, September 20th. Five analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Builders FirstSource has an average rating of “Moderate Buy” and a consensus target price of $206.88.

Check Out Our Latest Analysis on BLDR

Builders FirstSource Stock Performance

BLDR stock opened at $176.78 on Wednesday. The firm has a market cap of $20.59 billion, a PE ratio of 15.52, a P/E/G ratio of 10.15 and a beta of 2.08. The business’s 50-day moving average price is $184.58 and its two-hundred day moving average price is $168.44. Builders FirstSource has a 1-year low of $120.80 and a 1-year high of $214.70. The company has a current ratio of 1.83, a quick ratio of 1.14 and a debt-to-equity ratio of 0.88.

Builders FirstSource (NYSE:BLDR – Get Free Report) last released its earnings results on Tuesday, November 5th. The company reported $3.07 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.09 by ($0.02). Builders FirstSource had a return on equity of 37.05% and a net margin of 8.25%. The company had revenue of $4.23 billion for the quarter, compared to the consensus estimate of $4.44 billion. During the same quarter in the previous year, the company posted $4.24 EPS. The business’s revenue was down 6.7% on a year-over-year basis. As a group, research analysts forecast that Builders FirstSource will post 11.69 earnings per share for the current year.

Builders FirstSource announced that its board has initiated a stock repurchase plan on Tuesday, August 6th that authorizes the company to repurchase $1.00 billion in shares. This repurchase authorization authorizes the company to repurchase up to 5.3% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s board of directors believes its shares are undervalued.

Institutional Investors Weigh In On Builders FirstSource

Several large investors have recently added to or reduced their stakes in the stock. Norden Group LLC purchased a new stake in shares of Builders FirstSource in the 1st quarter valued at $265,000. Private Advisor Group LLC boosted its stake in shares of Builders FirstSource by 20.2% in the first quarter. Private Advisor Group LLC now owns 4,823 shares of the company’s stock valued at $1,006,000 after purchasing an additional 811 shares during the period. Nordea Investment Management AB lifted its stake in Builders FirstSource by 5.6% in the first quarter. Nordea Investment Management AB now owns 9,834 shares of the company’s stock worth $2,067,000 after acquiring an additional 523 shares during the last quarter. Manchester Capital Management LLC raised its holdings in Builders FirstSource by 58,733.3% during the first quarter. Manchester Capital Management LLC now owns 1,765 shares of the company’s stock worth $368,000 after purchasing an additional 1,762 shares in the last quarter. Finally, ORG Partners LLC acquired a new position in shares of Builders FirstSource in the 1st quarter valued at $33,000. 95.53% of the stock is owned by hedge funds and other institutional investors.

Builders FirstSource Company Profile

(Get Free Report)

Builders FirstSource, Inc, together with its subsidiaries, manufactures and supplies building materials, manufactured components, and construction services to professional homebuilders, sub-contractors, remodelers, and consumers in the United States. It offers lumber and lumber sheet goods comprising dimensional lumber, plywood, and oriented strand board products that are used in on-site house framing; manufactured products, such as wood floor and roof trusses, floor trusses, wall panels, stairs, and engineered wood products; and windows, and interior and exterior door units, as well as interior trims and custom products comprising intricate mouldings, stair parts, and columns under the Synboard brand name.

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