Wedbush Equities Analysts Reduce Earnings Estimates for Builders FirstSource, Inc. (NASDAQ:BLDR)

Builders FirstSource, Inc. (NASDAQ:BLDR) – Stock analysts at Wedbush reduced their Q3 2019 EPS estimates for shares of Builders FirstSource in a research report issued on Monday, August 5th, Zacks Investment Research reports. Wedbush analyst J. Mccanless now expects that the company will post earnings per share of $0.62 for the quarter, down from their previous estimate of $0.63. Wedbush has a “Buy” rating and a $18.00 price objective on the stock. Wedbush also issued estimates for Builders FirstSource’s Q4 2019 earnings at $0.28 EPS, FY2019 earnings at $1.87 EPS, Q3 2020 earnings at $0.69 EPS and FY2020 earnings at $1.99 EPS.

A number of other research firms have also weighed in on BLDR. BidaskClub raised shares of Builders FirstSource from a “hold” rating to a “buy” rating in a research report on Thursday, August 8th. Buckingham Research upped their price target on shares of Builders FirstSource from $17.00 to $21.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 7th. Zacks Investment Research raised shares of Builders FirstSource from a “hold” rating to a “buy” rating and set a $19.00 price target for the company in a research report on Thursday, May 9th. Finally, ValuEngine lowered shares of Builders FirstSource from a “hold” rating to a “sell” rating in a research report on Thursday, August 1st. Two analysts have rated the stock with a sell rating, seven have given a hold rating and four have given a buy rating to the company. Builders FirstSource currently has a consensus rating of “Hold” and a consensus price target of $16.00.

Shares of NASDAQ BLDR opened at $18.72 on Thursday. The firm’s 50-day moving average is $17.54 and its two-hundred day moving average is $15.14. The company has a debt-to-equity ratio of 2.02, a current ratio of 1.69 and a quick ratio of 0.96. The company has a market capitalization of $2.22 billion, a PE ratio of 9.85 and a beta of 2.03. Builders FirstSource has a 12-month low of $10.15 and a 12-month high of $20.30.

Builders FirstSource (NASDAQ:BLDR) last released its quarterly earnings data on Thursday, August 1st. The company reported $0.63 EPS for the quarter, topping analysts’ consensus estimates of $0.48 by $0.15. Builders FirstSource had a net margin of 3.05% and a return on equity of 39.63%. The firm had revenue of $1.90 billion for the quarter, compared to the consensus estimate of $1.91 billion. During the same quarter in the previous year, the firm earned $0.54 earnings per share. The firm’s revenue was down 8.9% on a year-over-year basis.

Several hedge funds have recently made changes to their positions in BLDR. Meeder Asset Management Inc. boosted its stake in shares of Builders FirstSource by 59.0% in the first quarter. Meeder Asset Management Inc. now owns 3,269 shares of the company’s stock valued at $44,000 after purchasing an additional 1,213 shares during the period. First Quadrant L P CA purchased a new position in shares of Builders FirstSource in the first quarter valued at $80,000. Public Employees Retirement System of Ohio boosted its stake in shares of Builders FirstSource by 15.7% in the second quarter. Public Employees Retirement System of Ohio now owns 4,758 shares of the company’s stock valued at $80,000 after purchasing an additional 645 shares during the period. SG Americas Securities LLC purchased a new position in shares of Builders FirstSource in the first quarter valued at $120,000. Finally, Eqis Capital Management Inc. bought a new position in Builders FirstSource during the 1st quarter valued at $142,000. Institutional investors and hedge funds own 90.22% of the company’s stock.

In other news, SVP Donald F. Mcaleenan sold 125,408 shares of the company’s stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $18.88, for a total value of $2,367,703.04. Following the completion of the transaction, the senior vice president now directly owns 152,773 shares in the company, valued at $2,884,354.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO David E. Rush sold 2,351 shares of the company’s stock in a transaction on Wednesday, August 7th. The shares were sold at an average price of $19.48, for a total transaction of $45,797.48. Following the completion of the transaction, the chief operating officer now owns 42,886 shares of the company’s stock, valued at $835,419.28. The disclosure for this sale can be found here. Insiders sold 230,877 shares of company stock valued at $4,426,335 in the last three months. Company insiders own 2.20% of the company’s stock.

Builders FirstSource Company Profile

Builders FirstSource, Inc manufactures and supplies building materials, manufactured components, and construction services to professional homebuilders, sub-contractors, remodelers, and consumers in the United States. The company operates through four segments: Northeast, Southeast, South, and West. 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, steel roof trusses, wall panels, stairs, and engineered wood products; and windows, and interior and exterior door units, as well as interior trims and custom products under the Synboard brand name.

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Earnings History and Estimates for Builders FirstSource (NASDAQ:BLDR)

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