Builders FirstSource (NYSE:BLDR) PT Raised to $211.00 at Barclays

Builders FirstSource (NYSE:BLDR) had its target price upped by investment analysts at Barclays from $182.00 to $211.00 in a research note issued on Wednesday, Benzinga reports. The brokerage currently has an “overweight” rating on the stock. Barclays‘s price objective would indicate a potential upside of 8.80% from the company’s previous close.

A number of other brokerages have also commented on BLDR. Bank of America lifted their price target on Builders FirstSource from $165.00 to $198.00 and gave the stock a “neutral” rating in a report on Thursday, September 19th. Robert W. Baird raised Builders FirstSource from a “neutral” rating to an “outperform” rating and raised their price target for the company from $185.00 to $190.00 in a report on Wednesday, August 7th. Wedbush reaffirmed an “outperform” rating and issued a $175.00 target price on shares of Builders FirstSource in a research note on Tuesday, August 6th. Baird R W upgraded shares of Builders FirstSource from a “hold” rating to a “strong-buy” rating in a report on Wednesday, August 7th. Finally, B. Riley dropped 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. Four investment 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 company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $191.93.

Builders FirstSource Stock Up 0.4 %

Shares of NYSE BLDR traded up $0.80 during trading on Wednesday, hitting $193.94. 138,370 shares of the company traded hands, compared to its average volume of 1,601,623. The company has a debt-to-equity ratio of 0.88, a quick ratio of 1.14 and a current ratio of 1.83. The business’s fifty day moving average is $175.50 and its 200 day moving average is $170.02. 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 capitalization of $23.67 billion, a price-to-earnings ratio of 16.60, a P/E/G ratio of 11.56 and a beta of 2.06.

Builders FirstSource (NYSE:BLDR) last announced its 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. Builders FirstSource had a return on equity of 37.05% and a net margin of 8.25%. The company had revenue of $4.46 billion for the quarter, compared to analysts’ expectations of $4.48 billion. During the same quarter in the previous year, the firm earned $3.89 earnings per share. Builders FirstSource’s quarterly revenue was down 1.6% on a year-over-year basis. Equities research analysts predict that Builders FirstSource will post 11.68 earnings per share for the current fiscal year.

Builders FirstSource declared that its Board of Directors has initiated a stock repurchase plan on Tuesday, August 6th that permits the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization permits the company to repurchase 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 stock is undervalued.

Insider Activity

In other Builders FirstSource news, Director Craig Arthur Steinke sold 30,000 shares of the firm’s stock in a transaction on 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 owns 95,333 shares of the company’s stock, valued at approximately $14,650,775.44. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 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 the company. Vanguard Group Inc. increased its stake in shares of Builders FirstSource by 15.7% during the 4th quarter. Vanguard Group Inc. now owns 14,668,049 shares of the company’s stock valued at $2,448,684,000 after acquiring an additional 1,985,297 shares during the last quarter. Massachusetts Financial Services Co. MA grew its holdings in Builders FirstSource by 339.8% in the second quarter. Massachusetts Financial Services Co. MA now owns 1,180,358 shares of the company’s stock valued at $163,373,000 after purchasing an additional 911,990 shares during the period. Bessemer Group Inc. increased its position in Builders FirstSource by 477,028.7% during the first quarter. Bessemer Group Inc. now owns 448,501 shares of the company’s stock worth $93,535,000 after purchasing an additional 448,407 shares during the last quarter. Clearbridge Investments LLC purchased a new position in Builders FirstSource during the second quarter worth approximately $49,000,000. Finally, Bank of New York Mellon Corp boosted its holdings in shares of Builders FirstSource by 22.7% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,062,488 shares of the company’s stock valued at $147,059,000 after purchasing an additional 196,571 shares during the last quarter. Institutional investors and hedge funds 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.