Builders FirstSource (NYSE:BLDR) Upgraded to Buy at Truist Financial

Builders FirstSource (NYSE:BLDR) was upgraded by analysts at Truist Financial from a “hold” rating to a “buy” rating in a research note issued on Monday, MarketBeat.com reports. The firm presently has a $220.00 price target on the stock, up from their prior price target of $165.00. Truist Financial’s price target would indicate a potential upside of 20.02% from the stock’s previous close.

A number of other analysts have also issued reports on the company. B. Riley decreased their price target on Builders FirstSource from $197.00 to $187.00 and set a “buy” rating on the stock in a research note on Wednesday, August 7th. Royal Bank of Canada reduced their price objective on Builders FirstSource from $193.00 to $178.00 and set an “outperform” rating on the stock in a research note on Wednesday, August 7th. Baird R W raised Builders FirstSource from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, August 7th. Zelman & Associates reissued a “hold” rating on shares of Builders FirstSource in a report on Monday, June 17th. Finally, Bank of America downgraded Builders FirstSource from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $183.00 to $180.00 in a report on Friday, August 2nd. Five investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Builders FirstSource presently has an average rating of “Moderate Buy” and a consensus price target of $184.43.

Builders FirstSource Stock Up 4.3 %

BLDR opened at $183.30 on Monday. The firm has a market cap of $22.37 billion, a P/E ratio of 15.69, a PEG ratio of 10.06 and a beta of 2.06. The business’s fifty day simple moving average is $162.36 and its 200 day simple moving average is $170.79. Builders FirstSource has a 52 week low of $105.24 and a 52 week high of $214.70. 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 released its quarterly earnings results on Tuesday, August 6th. The company reported $3.50 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.02 by $0.48. The company had revenue of $4.46 billion for the quarter, compared to analysts’ expectations of $4.48 billion. Builders FirstSource had a net margin of 8.25% and a return on equity of 37.05%. The firm’s revenue for the quarter was down 1.6% compared to the same quarter last year. During the same period last year, the company earned $3.89 EPS. As a group, equities research analysts anticipate that Builders FirstSource will post 11.65 EPS for the current fiscal year.

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

Insider Buying and Selling at Builders FirstSource

In other news, Director Craig Arthur Steinke sold 30,000 shares of the company’s stock in a transaction on Thursday, August 8th. The shares were sold at an average price of $153.68, for a total value of $4,610,400.00. Following the transaction, the director now directly owns 95,333 shares of the company’s stock, valued at $14,650,775.44. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 1.80% of the company’s stock.

Institutional Trading of Builders FirstSource

Hedge funds have recently bought and sold shares of the stock. Vanguard Personalized Indexing Management LLC raised its position in Builders FirstSource by 0.7% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 10,240 shares of the company’s stock worth $1,417,000 after purchasing an additional 74 shares in the last quarter. First Horizon Advisors Inc. increased its holdings in Builders FirstSource by 42.1% in the second quarter. First Horizon Advisors Inc. now owns 253 shares of the company’s stock valued at $35,000 after purchasing an additional 75 shares during the last quarter. Team Hewins LLC raised its position in shares of Builders FirstSource by 6.5% in the 1st quarter. Team Hewins LLC now owns 1,313 shares of the company’s stock valued at $274,000 after acquiring an additional 80 shares during the period. Csenge Advisory Group boosted its position in shares of Builders FirstSource by 1.9% during the second quarter. Csenge Advisory Group now owns 4,252 shares of the company’s stock worth $589,000 after purchasing an additional 81 shares in the last quarter. Finally, Congress Wealth Management LLC DE lifted its holdings in Builders FirstSource by 1.4% during the fourth quarter. Congress Wealth Management LLC DE now owns 6,197 shares of the company’s stock worth $1,035,000 after acquiring an additional 85 shares in the last quarter. 95.53% of the stock is owned by institutional investors.

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.