StockNews.com Downgrades Builders FirstSource (NYSE:BLDR) to Hold

Builders FirstSource (NYSE:BLDR) was downgraded by equities research analysts at StockNews.com from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Monday.

A number of other brokerages also recently commented on BLDR. Truist Financial upgraded 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 note on Monday, September 16th. Wedbush restated an “outperform” rating and issued a $230.00 target price on shares of Builders FirstSource in a research note on Wednesday, December 18th. The Goldman Sachs Group assumed coverage on Builders FirstSource in a research report on Thursday, October 10th. They issued a “buy” rating and a $225.00 price target for the company. UBS Group assumed coverage on Builders FirstSource in a research report on Friday, October 25th. They issued a “buy” rating and a $232.00 price target for the company. Finally, Oppenheimer reaffirmed an “outperform” rating and issued a $225.00 price target on shares of Builders FirstSource in a research report on Tuesday, October 29th. Four analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $208.75.

Builders FirstSource Stock Down 2.3 %

Shares of Builders FirstSource stock opened at $140.14 on Monday. The stock’s fifty day moving average is $166.00 and its 200-day moving average is $168.80. The firm has a market capitalization of $16.13 billion, a PE ratio of 13.69, a price-to-earnings-growth ratio of 0.96 and a beta of 2.11. The company has a quick ratio of 1.16, a current ratio of 1.77 and a debt-to-equity ratio of 0.83. Builders FirstSource has a 12-month low of $130.75 and a 12-month high of $214.70.

Builders FirstSource (NYSE:BLDR) last announced its earnings results on Tuesday, November 5th. The company reported $3.07 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.09 by ($0.02). Builders FirstSource had a return on equity of 33.55% and a net margin of 7.40%. The company had revenue of $4.23 billion for the quarter, compared to analyst estimates of $4.44 billion. During the same period last year, the firm earned $4.24 earnings per share. The firm’s revenue for the quarter was down 6.7% on a year-over-year basis. Equities analysts anticipate that Builders FirstSource will post 11.55 earnings per share for the current year.

Insider Activity

In related news, Director Cleveland A. Christophe sold 10,000 shares of the firm’s stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $178.41, for a total transaction of $1,784,100.00. Following the sale, the director now owns 33,083 shares of the company’s stock, valued at approximately $5,902,338.03. This trade represents a 23.21 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 1.80% of the stock is currently owned by company insiders.

Institutional Trading of Builders FirstSource

Several hedge funds and other institutional investors have recently modified their holdings of the company. Choreo LLC bought a new position in shares of Builders FirstSource in the 2nd quarter valued at about $224,000. Oppenheimer & Co. Inc. grew its holdings in Builders FirstSource by 22.2% during the second quarter. Oppenheimer & Co. Inc. now owns 26,482 shares of the company’s stock worth $3,665,000 after purchasing an additional 4,814 shares during the period. Federated Hermes Inc. grew its holdings in Builders FirstSource by 21.2% during the second quarter. Federated Hermes Inc. now owns 79,894 shares of the company’s stock worth $11,058,000 after purchasing an additional 14,001 shares during the period. Wealthspire Advisors LLC grew its holdings in Builders FirstSource by 4.6% during the second quarter. Wealthspire Advisors LLC now owns 2,031 shares of the company’s stock worth $281,000 after purchasing an additional 90 shares during the period. Finally, Envestnet Asset Management Inc. grew its holdings in Builders FirstSource by 9.5% during the second quarter. Envestnet Asset Management Inc. now owns 146,248 shares of the company’s stock worth $20,242,000 after purchasing an additional 12,693 shares during the period. Institutional investors and hedge funds own 95.53% of the company’s stock.

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.