B. Riley Cuts Earnings Estimates for Builders FirstSource

Builders FirstSource, Inc. (NYSE:BLDR) – Research analysts at B. Riley cut their FY2024 earnings estimates for Builders FirstSource in a research report issued to clients and investors on Wednesday, November 6th. B. Riley analyst A. Rygiel now anticipates that the company will earn $11.66 per share for the year, down from their previous estimate of $11.75. B. Riley currently has a “Buy” rating and a $187.00 target price on the stock. The consensus estimate for Builders FirstSource’s current full-year earnings is $11.69 per share.

Several other research analysts have also recently issued reports on BLDR. Bank of America increased their price target on Builders FirstSource from $165.00 to $198.00 and gave the stock a “neutral” rating in a research note on Thursday, September 19th. Truist Financial upgraded shares of Builders FirstSource from a “hold” rating to a “buy” rating and increased their target price for the company from $165.00 to $220.00 in a research report on Monday, September 16th. StockNews.com downgraded shares of Builders FirstSource from a “buy” rating to a “hold” rating in a research report on Wednesday. Stifel Nicolaus decreased their price objective on shares of Builders FirstSource from $217.00 to $195.00 and set a “buy” rating for the company in a report on Thursday, August 8th. Finally, DA Davidson boosted their target price on Builders FirstSource from $169.00 to $175.00 and gave the stock a “neutral” rating in a report on Wednesday. Five equities research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $206.47.

Builders FirstSource Stock Up 1.3 %

BLDR opened at $179.09 on Thursday. The stock’s 50 day moving average price is $184.71 and its 200 day moving average price is $168.52. The company has a debt-to-equity ratio of 0.88, a current ratio of 1.83 and a quick ratio of 1.14. The stock has a market cap of $20.86 billion, a P/E ratio of 15.72, a P/E/G ratio of 10.17 and a beta of 2.08. Builders FirstSource has a 12 month low of $120.80 and a 12 month high of $214.70.

Builders FirstSource (NYSE:BLDR) last posted its earnings results on Tuesday, November 5th. The company reported $3.07 EPS for the quarter, missing the consensus estimate of $3.09 by ($0.02). The firm had revenue of $4.23 billion during the quarter, compared to the consensus estimate of $4.44 billion. Builders FirstSource had a return on equity of 37.05% and a net margin of 8.25%. Builders FirstSource’s revenue for the quarter was down 6.7% on a year-over-year basis. During the same quarter last year, the company posted $4.24 EPS.

Hedge Funds Weigh In On Builders FirstSource

Several institutional investors and hedge funds have recently added to or reduced their stakes in BLDR. Cyndeo Wealth Partners LLC lifted its position in shares of Builders FirstSource by 3.7% in the third quarter. Cyndeo Wealth Partners LLC now owns 1,571 shares of the company’s stock worth $305,000 after purchasing an additional 56 shares in the last quarter. World Equity Group Inc. boosted its stake in shares of Builders FirstSource by 4.1% during the 3rd quarter. World Equity Group Inc. now owns 1,632 shares of the company’s stock valued at $316,000 after buying an additional 64 shares during the period. Vanguard Personalized Indexing Management LLC grew its holdings in shares of Builders FirstSource by 0.7% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 10,240 shares of the company’s stock valued at $1,417,000 after acquiring an additional 74 shares in the last quarter. First Horizon Advisors Inc. grew its holdings in shares of Builders FirstSource by 42.1% during the 2nd quarter. First Horizon Advisors Inc. now owns 253 shares of the company’s stock valued at $35,000 after acquiring an additional 75 shares in the last quarter. Finally, Csenge Advisory Group increased its stake in shares of Builders FirstSource by 1.9% in the second quarter. Csenge Advisory Group now owns 4,252 shares of the company’s stock worth $589,000 after acquiring an additional 81 shares during the last quarter. 95.53% of the stock is currently owned by hedge funds and other institutional investors.

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

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.