Builders FirstSource, Inc. (NYSE:BLDR) Given Average Rating of “Moderate Buy” by Brokerages

Shares of Builders FirstSource, Inc. (NYSE:BLDR) have received an average recommendation of “Moderate Buy” from the nineteen brokerages that are presently covering the stock, MarketBeat reports. Four investment analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company. The average 12 month price objective among analysts that have covered the stock in the last year is $200.35.

A number of brokerages have recently commented on BLDR. StockNews.com upgraded shares of Builders FirstSource from a “hold” rating to a “buy” rating in a research note on Monday, September 23rd. Barclays lifted their price target on shares of Builders FirstSource from $182.00 to $211.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 9th. Loop Capital lifted their price target on shares of Builders FirstSource from $190.00 to $230.00 and gave the stock a “buy” rating in a research note on Friday, September 20th. B. Riley cut their target price on shares of Builders FirstSource from $197.00 to $187.00 and set a “buy” rating for the company in a research report on Wednesday, August 7th. Finally, Truist Financial upgraded shares of Builders FirstSource from a “hold” rating to a “buy” rating and boosted their target price for the company from $165.00 to $220.00 in a research report on Monday, September 16th.

Builders FirstSource Stock Down 7.1 %

NYSE:BLDR opened at $171.66 on Wednesday. The firm has a 50-day simple moving average of $184.34 and a two-hundred day simple moving average of $168.76. Builders FirstSource has a fifty-two week low of $105.24 and a fifty-two week high of $214.70. The firm has a market cap of $20.95 billion, a P/E ratio of 14.70, a P/E/G ratio of 11.48 and a beta of 2.06. The company has a debt-to-equity ratio of 0.88, a quick ratio of 1.14 and a current ratio of 1.83.

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

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

Insider Transactions at Builders FirstSource

In other news, Director Craig Arthur Steinke sold 30,000 shares of the business’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 transaction, the director now owns 95,333 shares of the company’s stock, valued at approximately $14,650,775.44. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 1.80% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. Forsta AP Fonden increased its holdings in shares of Builders FirstSource by 12.1% during the 3rd quarter. Forsta AP Fonden now owns 26,800 shares of the company’s stock valued at $5,195,000 after purchasing an additional 2,900 shares in the last quarter. SG Americas Securities LLC increased its stake in Builders FirstSource by 273.0% during the first quarter. SG Americas Securities LLC now owns 62,622 shares of the company’s stock worth $13,060,000 after purchasing an additional 45,832 shares during the period. Cetera Investment Advisers increased its stake in shares of 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 buying an additional 45,069 shares during the period. Janus Henderson Group PLC increased its stake in shares of Builders FirstSource by 21.1% during the first quarter. Janus Henderson Group PLC now owns 20,013 shares of the company’s stock worth $4,173,000 after buying an additional 3,483 shares during the period. Finally, Raymond James Financial Services Advisors Inc. boosted its holdings in Builders FirstSource by 18.6% in the second quarter. Raymond James Financial Services Advisors Inc. now owns 115,995 shares of the company’s stock valued at $16,055,000 after purchasing an additional 18,223 shares in the last quarter. Institutional investors own 95.53% of the company’s stock.

About Builders FirstSource

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.