Builders FirstSource’s (BLDR) “Outperform” Rating Reaffirmed at Oppenheimer

Builders FirstSource (NYSE:BLDR)‘s stock had its “outperform” rating reaffirmed by investment analysts at Oppenheimer in a research report issued to clients and investors on Tuesday, Benzinga reports. They currently have a $225.00 target price on the stock. Oppenheimer’s price target points to a potential upside of 30.05% from the company’s previous close.

A number of other brokerages have also recently issued reports on BLDR. Jefferies Financial Group lifted their price objective on Builders FirstSource from $185.00 to $223.00 and gave the company a “buy” rating in a research note on Wednesday, October 9th. UBS Group initiated coverage on Builders FirstSource in a research note on Friday. They issued a “buy” rating and a $232.00 price objective on the stock. Wedbush reissued an “outperform” rating and set a $175.00 price target on shares of Builders FirstSource in a report on Tuesday, August 6th. Bank of America raised their target price on shares of Builders FirstSource from $165.00 to $198.00 and gave the company a “neutral” rating in a research note on Thursday, September 19th. Finally, StockNews.com upgraded Builders FirstSource from a “hold” rating to a “buy” rating in a research report on Monday, September 23rd. Four research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Builders FirstSource presently has an average rating of “Moderate Buy” and a consensus target price of $200.35.

Builders FirstSource Price Performance

Shares of BLDR traded down $11.79 during mid-day trading on Tuesday, reaching $173.01. 981,749 shares of the stock traded hands, compared to its average volume of 1,564,945. The company has a market cap of $21.12 billion, a price-to-earnings ratio of 14.81, a price-to-earnings-growth ratio of 11.48 and a beta of 2.06. The company has a current ratio of 1.83, a quick ratio of 1.14 and a debt-to-equity ratio of 0.88. The firm has a fifty day moving average price of $184.34 and a 200 day moving average price of $168.76. Builders FirstSource has a 1 year low of $105.24 and a 1 year high of $214.70.

Builders FirstSource (NYSE:BLDR) last announced its quarterly earnings data on Tuesday, August 6th. The company reported $3.50 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.02 by $0.48. The firm had revenue of $4.46 billion for the quarter, compared to analysts’ expectations of $4.48 billion. Builders FirstSource had a return on equity of 37.05% and a net margin of 8.25%. The company’s revenue for the quarter was down 1.6% compared to the same quarter last year. During the same period last year, the firm earned $3.89 earnings per share. As a group, equities research analysts predict that Builders FirstSource will post 11.68 earnings per share for the current year.

Builders FirstSource announced that its Board of Directors has initiated a share buyback program on Tuesday, August 6th that permits the company to buyback $1.00 billion in shares. This buyback authorization permits the company to buy up to 5.3% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s board believes its shares are undervalued.

Insiders Place Their Bets

In other news, Director Craig Arthur Steinke sold 30,000 shares of the firm’s stock in a transaction that occurred on 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 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 filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.80% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Diversified Trust Co purchased a new position in Builders FirstSource in the 1st quarter worth about $559,000. Miracle Mile Advisors LLC bought a new stake in shares of Builders FirstSource in the first quarter valued at approximately $691,000. Norden Group LLC bought a new position in shares of Builders FirstSource during the 1st quarter worth about $265,000. Westside Investment Management Inc. acquired a new position in shares of Builders FirstSource in the first quarter valued at $31,000. Finally, First Trust Direct Indexing L.P. boosted its position in shares of Builders FirstSource by 9.9% during the 1st quarter. First Trust Direct Indexing L.P. now owns 3,238 shares of the company’s stock valued at $675,000 after acquiring an additional 293 shares in the last quarter. Institutional investors 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.