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

Builders FirstSource, Inc. (NYSE:BLDR) shares 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.

Analysts Set New Price Targets

BLDR has been the topic of a number of research reports. Barclays reduced their target price on shares of Builders FirstSource from $188.00 to $182.00 and set an “overweight” rating on the stock in a report on Wednesday, August 7th. Benchmark reduced their price objective on Builders FirstSource from $220.00 to $200.00 and set a “buy” rating on the stock in a research note on Wednesday, August 7th. Truist Financial raised Builders FirstSource from a “hold” rating to a “buy” rating and raised their price objective for the company from $165.00 to $220.00 in a research note on Monday. Royal Bank of Canada cut their target price on Builders FirstSource from $193.00 to $178.00 and set an “outperform” rating on the stock in a research report on Wednesday, August 7th. Finally, StockNews.com lowered Builders FirstSource from a “buy” rating to a “hold” rating in a report on Monday, July 22nd. Five equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Builders FirstSource presently has a consensus rating of “Moderate Buy” and a consensus price target of $184.43.

Builders FirstSource Trading Up 3.5 %

The stock has a market capitalization of $23.15 billion, a P/E ratio of 15.69, a P/E/G ratio of 10.06 and a beta of 2.06. The stock’s 50 day moving average price is $162.36 and its 200-day moving average price is $170.79. The company has a quick ratio of 1.14, a current ratio of 1.83 and a debt-to-equity ratio of 0.88.

Builders FirstSource (NYSE:BLDR) last issued its quarterly earnings data on Tuesday, August 6th. The company reported $3.50 earnings per share for the quarter, topping analysts’ consensus estimates of $3.02 by $0.48. Builders FirstSource had a return on equity of 37.05% and a net margin of 8.25%. The firm had revenue of $4.46 billion during the quarter, compared to analysts’ expectations of $4.48 billion. During the same period in the prior year, the business posted $3.89 EPS. The firm’s quarterly revenue was down 1.6% on a year-over-year basis. As a group, equities research analysts expect that Builders FirstSource, Inc. will post 11.65 earnings per share for the current year.

Builders FirstSource announced that its board has authorized a share buyback program on Tuesday, August 6th that allows the company to repurchase $1.00 billion in shares. This repurchase authorization allows the company to buy up to 5.3% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s board of directors believes its shares are undervalued.

Insider Buying and Selling

In other news, Director Craig Arthur Steinke sold 30,000 shares of the company’s stock in a transaction dated Thursday, August 8th. The shares were sold at an average price of $153.68, for a total transaction of $4,610,400.00. Following the transaction, the director now owns 95,333 shares in the company, valued at $14,650,775.44. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 1.80% of the stock is owned by company insiders.

Institutional Investors Weigh In On Builders FirstSource

Institutional investors and hedge funds have recently modified their holdings of the company. Westside Investment Management Inc. acquired a new position in Builders FirstSource during the first quarter valued at $31,000. ORG Partners LLC acquired a new position in shares of Builders FirstSource in the 1st quarter valued at about $33,000. American Capital Advisory LLC purchased a new stake in shares of Builders FirstSource in the first quarter worth about $34,000. Principal Securities Inc. acquired a new stake in Builders FirstSource during the fourth quarter worth about $32,000. Finally, Innealta Capital LLC purchased a new position in Builders FirstSource during the second quarter valued at approximately $27,000. 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.