Builders FirstSource (NYSE:BLDR) Shares Gap Up to $183.30

Shares of Builders FirstSource, Inc. (NYSE:BLDR) gapped up before the market opened on Monday . The stock had previously closed at $183.30, but opened at $187.50. Builders FirstSource shares last traded at $187.85, with a volume of 229,625 shares traded.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on BLDR. Zelman & Associates reissued a “hold” rating on shares of Builders FirstSource in a research report on Monday, June 17th. Benchmark cut their price objective on shares of Builders FirstSource from $220.00 to $200.00 and set a “buy” rating on the stock in a research report on Wednesday, August 7th. Truist Financial upgraded shares of Builders FirstSource from a “hold” rating to a “buy” rating and lifted their price target for the company from $165.00 to $220.00 in a research note on Monday. Stifel Nicolaus reduced their price objective on shares of Builders FirstSource from $217.00 to $195.00 and set a “buy” rating for the company in a research note on Thursday, August 8th. Finally, Baird R W raised Builders FirstSource from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, August 7th. Four research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $185.86.

Builders FirstSource Price Performance

The firm has a market capitalization of $23.82 billion, a P/E ratio of 16.60, a PEG ratio of 10.06 and a beta of 2.06. 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 business’s 50 day moving average is $164.61 and its 200-day moving average is $170.70.

Builders FirstSource (NYSE:BLDR) last released its quarterly earnings data on Tuesday, August 6th. The company reported $3.50 earnings per share for the quarter, beating the consensus estimate of $3.02 by $0.48. The business had revenue of $4.46 billion for 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%. Builders FirstSource’s revenue was down 1.6% compared to the same quarter last year. During the same period last year, the firm posted $3.89 earnings per share. As a group, sell-side analysts predict that Builders FirstSource, Inc. will post 11.65 EPS for the current fiscal year.

Builders FirstSource announced that its Board of Directors 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 repurchase up to 5.3% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board of directors believes its stock is undervalued.

Insider Buying and Selling at Builders FirstSource

In other news, Director Craig Arthur Steinke sold 30,000 shares of the company’s stock in a transaction 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 sale, the director now owns 95,333 shares in the company, valued at approximately $14,650,775.44. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 1.80% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in BLDR. Principal Securities Inc. bought a new stake in shares of Builders FirstSource in the 4th quarter worth approximately $32,000. Envestnet Portfolio Solutions Inc. increased its holdings in shares of Builders FirstSource by 6.5% during the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 2,848 shares of the company’s stock valued at $475,000 after acquiring an additional 174 shares in the last quarter. Janney Montgomery Scott LLC lifted its stake in shares of Builders FirstSource by 4.0% in the fourth quarter. Janney Montgomery Scott LLC now owns 33,830 shares of the company’s stock worth $5,648,000 after buying an additional 1,316 shares in the last quarter. Independent Advisor Alliance bought a new stake in shares of Builders FirstSource in the 4th quarter worth $224,000. Finally, ING Groep NV purchased a new stake in shares of Builders FirstSource during the 4th quarter valued at about $2,821,000. 95.53% of the stock is currently owned by hedge funds and other 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.