Builders FirstSource (NYSE:BLDR) Price Target Raised to $205.00 at Oppenheimer

Builders FirstSource (NYSE:BLDR) had its price objective upped by Oppenheimer from $190.00 to $205.00 in a research note published on Tuesday morning, Benzinga reports. Oppenheimer currently has an outperform rating on the stock.

BLDR has been the subject of several other reports. Robert W. Baird upgraded Builders FirstSource from a neutral rating to an outperform rating and increased their price objective for the stock from $185.00 to $190.00 in a report on Wednesday, August 7th. StockNews.com downgraded shares of Builders FirstSource from a buy rating to a hold rating in a research report on Monday, July 22nd. B. Riley decreased their price objective on shares of Builders FirstSource from $197.00 to $187.00 and set a buy rating for the company in a report on Wednesday, August 7th. Barclays decreased their price target on Builders FirstSource from $188.00 to $182.00 and set an overweight rating for the company in a research note on Wednesday, August 7th. Finally, Wedbush reissued an outperform rating and issued a $175.00 price objective on shares of Builders FirstSource in a research note on Tuesday, August 6th. Six analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of Moderate Buy and a consensus price target of $181.57.

Builders FirstSource Trading Down 3.1 %

Shares of BLDR stock opened at $168.60 on Tuesday. The company has a quick ratio of 1.14, a current ratio of 1.83 and a debt-to-equity ratio of 0.88. The stock has a 50-day simple moving average of $156.59 and a 200 day simple moving average of $171.73. Builders FirstSource has a fifty-two week low of $105.24 and a fifty-two week high of $214.70. The stock has a market capitalization of $20.58 billion, a P/E ratio of 14.43, a P/E/G ratio of 10.07 and a beta of 2.04.

Builders FirstSource (NYSE:BLDR) last issued its quarterly earnings results on Tuesday, August 6th. The company reported $3.50 earnings per share for the quarter, topping analysts’ consensus estimates of $3.02 by $0.48. The firm had revenue of $4.46 billion for the quarter, compared to analysts’ expectations of $4.48 billion. Builders FirstSource had a return on equity of 37.05% and a net margin of 8.25%. Builders FirstSource’s revenue was down 1.6% on a year-over-year basis. During the same quarter last year, the business posted $3.89 EPS. On average, sell-side analysts expect that Builders FirstSource will post 11.91 earnings per share for the current fiscal year.

Builders FirstSource declared that its board has approved a stock buyback program on Tuesday, August 6th that authorizes the company to buyback $1.00 billion in shares. This buyback authorization authorizes the company to reacquire up to 5.3% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s board of directors believes its shares are undervalued.

Insiders Place Their Bets

In other news, Director Craig Arthur Steinke sold 30,000 shares of Builders FirstSource stock in a transaction that occurred on Thursday, August 8th. The shares were sold at an average price of $153.68, for a total value of $4,610,400.00. Following the completion of the transaction, the director now owns 95,333 shares in the company, valued at $14,650,775.44. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 1.80% of the company’s stock.

Hedge Funds Weigh In On Builders FirstSource

A number of institutional investors have recently modified their holdings of BLDR. Truist Financial Corp boosted its stake in Builders FirstSource by 11.6% in the fourth quarter. Truist Financial Corp now owns 18,548 shares of the company’s stock valued at $3,096,000 after acquiring an additional 1,922 shares during the last quarter. Victory Capital Management Inc. grew its holdings in Builders FirstSource by 41.6% during the fourth quarter. Victory Capital Management Inc. now owns 213,133 shares of the company’s stock valued at $35,580,000 after purchasing an additional 62,601 shares during the period. Natixis Advisors L.P. increased its stake in Builders FirstSource by 6.4% in the fourth quarter. Natixis Advisors L.P. now owns 20,345 shares of the company’s stock valued at $3,396,000 after purchasing an additional 1,221 shares in the last quarter. National Bank of Canada FI raised its holdings in Builders FirstSource by 1,894.5% in the fourth quarter. National Bank of Canada FI now owns 29,837 shares of the company’s stock worth $4,934,000 after purchasing an additional 28,341 shares during the period. Finally, Metis Global Partners LLC boosted its position in shares of Builders FirstSource by 44.2% during the fourth quarter. Metis Global Partners LLC now owns 6,398 shares of the company’s stock worth $1,068,000 after purchasing an additional 1,962 shares in the last quarter. 95.53% of the stock is owned by institutional investors.

Builders FirstSource Company Profile

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.