Builders FirstSource’s (BLDR) Outperform Rating Reiterated at Wedbush

Wedbush reaffirmed their outperform rating on shares of Builders FirstSource (NYSE:BLDR) in a report released on Wednesday,RTT News reports. Wedbush currently has a $230.00 target price on the stock.

A number of other equities research analysts also recently commented on the company. Stifel Nicolaus reduced their target price on Builders FirstSource from $217.00 to $195.00 and set a “buy” rating on the stock in a research report on Thursday, August 8th. The Goldman Sachs Group initiated coverage on shares of Builders FirstSource in a research report on Thursday, October 10th. They set a “buy” rating and a $225.00 price target for the company. StockNews.com upgraded shares of Builders FirstSource from a “hold” rating to a “buy” rating in a report on Monday, September 23rd. Loop Capital lifted their target price on shares of Builders FirstSource from $190.00 to $230.00 and gave the company a “buy” rating in a report on Friday, September 20th. Finally, Robert W. Baird upped their price target on Builders FirstSource from $190.00 to $222.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 16th. Five investment analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $206.47.

Builders FirstSource Stock Down 0.7 %

Shares of NYSE:BLDR opened at $177.99 on Wednesday. Builders FirstSource has a 52-week low of $120.80 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. The business has a fifty day moving average of $184.79 and a two-hundred day moving average of $168.52. The stock has a market cap of $20.48 billion, a P/E ratio of 17.38, a PEG ratio of 10.17 and a beta of 2.08.

Builders FirstSource (NYSE:BLDR) last issued its earnings results on Tuesday, November 5th. The company reported $3.07 EPS for the quarter, missing analysts’ consensus estimates of $3.09 by ($0.02). Builders FirstSource had a return on equity of 37.05% and a net margin of 8.25%. The firm had revenue of $4.23 billion for the quarter, compared to analysts’ expectations of $4.44 billion. During the same period last year, the firm earned $4.24 earnings per share. Builders FirstSource’s revenue for the quarter was down 6.7% on a year-over-year basis. On average, research analysts expect that Builders FirstSource will post 11.69 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 allows the company to buyback $1.00 billion in shares. This buyback authorization allows the company to purchase up to 5.3% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board of directors believes its shares are undervalued.

Insider Transactions at Builders FirstSource

In related news, Director Cleveland A. Christophe sold 10,000 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the director now owns 33,083 shares in the company, valued at $5,902,338.03. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 1.80% of the company’s stock.

Hedge Funds Weigh In On Builders FirstSource

Several large investors have recently bought and sold shares of the stock. Norden Group LLC acquired a new stake in shares of Builders FirstSource in the 1st quarter valued at about $265,000. Private Advisor Group LLC boosted its holdings in shares of Builders FirstSource by 20.2% in the first quarter. Private Advisor Group LLC now owns 4,823 shares of the company’s stock valued at $1,006,000 after acquiring an additional 811 shares during the period. Nordea Investment Management AB grew its position in shares of Builders FirstSource by 5.6% during the first quarter. Nordea Investment Management AB now owns 9,834 shares of the company’s stock worth $2,067,000 after acquiring an additional 523 shares during the last quarter. Manchester Capital Management LLC raised its position in Builders FirstSource by 58,733.3% in the 1st quarter. Manchester Capital Management LLC now owns 1,765 shares of the company’s stock valued at $368,000 after purchasing an additional 1,762 shares during the last quarter. Finally, ORG Partners LLC purchased a new stake in Builders FirstSource in the 1st quarter valued at $33,000. Institutional investors and hedge funds own 95.53% of the company’s stock.

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.