Builders FirstSource (NYSE:BLDR) Price Target Raised to $223.00

by · The Markets Daily

Builders FirstSource (NYSE:BLDR – Free Report) had its price objective hoisted by Jefferies Financial Group from $185.00 to $223.00 in a report issued on Wednesday, Benzinga reports. Jefferies Financial Group currently has a buy rating on the stock.

Other analysts have also recently issued reports about the stock. Baird R W raised shares of Builders FirstSource from a hold rating to a strong-buy rating in a report on Wednesday, August 7th. Benchmark lowered their price target on Builders FirstSource from $220.00 to $200.00 and set a buy rating on the stock in a research report on Wednesday, August 7th. Royal Bank of Canada dropped their price target on Builders FirstSource from $193.00 to $178.00 and set an outperform rating on the stock in a research report on Wednesday, August 7th. Zelman & Associates reissued a hold rating on shares of Builders FirstSource in a research report on Monday, June 17th. Finally, Robert W. Baird upgraded shares of Builders FirstSource from a neutral rating to an outperform rating and increased their target price for the company from $185.00 to $190.00 in a research note on Wednesday, August 7th. Four research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Builders FirstSource presently has a consensus rating of Moderate Buy and an average price target of $196.38.

Get Our Latest Analysis on Builders FirstSource

Builders FirstSource Price Performance

Shares of NYSE:BLDR opened at $193.00 on Wednesday. The firm has a market cap of $23.56 billion, a price-to-earnings ratio of 16.52, a P/E/G ratio of 11.48 and a beta of 2.06. Builders FirstSource has a 1 year low of $105.24 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. The business has a fifty day simple moving average of $177.50 and a 200 day simple moving average of $170.23.

Builders FirstSource (NYSE:BLDR – Get Free Report) last announced its quarterly earnings results on Tuesday, August 6th. The company reported $3.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.02 by $0.48. The business had revenue of $4.46 billion during the quarter, compared to analyst estimates of $4.48 billion. Builders FirstSource had a return on equity of 37.05% and a net margin of 8.25%. The firm’s revenue was down 1.6% on a year-over-year basis. During the same period in the previous year, the company earned $3.89 EPS. As a group, sell-side analysts predict that Builders FirstSource will post 11.68 earnings per share for the current fiscal year.

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

Insider Transactions at Builders FirstSource

In related news, Director Craig Arthur Steinke sold 30,000 shares of Builders FirstSource stock in a transaction dated Thursday, August 8th. The stock was sold at an average price of $153.68, for a total value of $4,610,400.00. Following the completion of the sale, the director now directly owns 95,333 shares in the company, valued at $14,650,775.44. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.80% of the stock is currently owned by corporate insiders.

Institutional Trading of Builders FirstSource

Several institutional investors and hedge funds have recently made changes to their positions in BLDR. New Mexico Educational Retirement Board boosted its stake in Builders FirstSource by 512.3% during the 1st quarter. New Mexico Educational Retirement Board now owns 39,800 shares of the company’s stock worth $8,300,000 after acquiring an additional 33,300 shares during the last quarter. Pitcairn Co. increased its position in shares of Builders FirstSource by 37.2% in the 4th quarter. Pitcairn Co. now owns 21,051 shares of the company’s stock valued at $3,514,000 after buying an additional 5,704 shares in the last quarter. SG Americas Securities LLC raised its stake in Builders FirstSource by 273.0% during the 1st quarter. SG Americas Securities LLC now owns 62,622 shares of the company’s stock worth $13,060,000 after buying an additional 45,832 shares during the period. Cetera Investment Advisers lifted its holdings in Builders FirstSource by 762.2% during the first quarter. Cetera Investment Advisers now owns 50,982 shares of the company’s stock worth $10,632,000 after acquiring an additional 45,069 shares in the last quarter. Finally, Janus Henderson Group PLC grew its stake in Builders FirstSource by 21.1% in the first quarter. Janus Henderson Group PLC now owns 20,013 shares of the company’s stock valued at $4,173,000 after acquiring an additional 3,483 shares during the period. Institutional investors own 95.53% of the company’s stock.

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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