Builders FirstSource (NYSE:BLDR) Price Target Raised to $198.00

Builders FirstSource (NYSE:BLDR) had its target price lifted by Bank of America from $165.00 to $198.00 in a research note issued on Thursday, Benzinga reports. The brokerage presently has a “neutral” rating on the stock. Bank of America‘s price target indicates a potential downside of 1.50% from the company’s current price.

Other equities analysts have also issued reports about the company. Barclays cut their target price on Builders FirstSource from $188.00 to $182.00 and set an “overweight” rating on the stock in a research report on Wednesday, August 7th. Wedbush reissued an “outperform” rating and set a $175.00 price target on shares of Builders FirstSource in a research report on Tuesday, August 6th. StockNews.com raised Builders FirstSource from a “hold” rating to a “buy” rating in a research report on Tuesday. Stifel Nicolaus dropped their price target 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. Finally, Royal Bank of Canada dropped their price target 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. Four equities research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $187.14.

Builders FirstSource Trading Up 3.3 %

Shares of NYSE:BLDR traded up $6.49 during trading on Thursday, reaching $201.01. 927,377 shares of the stock were exchanged, compared to its average volume of 1,615,770. The company has a debt-to-equity ratio of 0.88, a quick ratio of 1.14 and a current ratio of 1.83. Builders FirstSource has a 12-month low of $105.24 and a 12-month high of $214.70. The firm has a market cap of $24.53 billion, a price-to-earnings ratio of 17.20, a price-to-earnings-growth ratio of 10.06 and a beta of 2.06. The firm’s 50-day moving average price is $165.76 and its 200 day moving average price is $170.86.

Builders FirstSource (NYSE:BLDR) last issued its earnings results on Tuesday, August 6th. The company reported $3.50 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.02 by $0.48. The business had revenue of $4.46 billion during 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% on a year-over-year basis. During the same quarter in the previous year, the business earned $3.89 EPS. On average, sell-side analysts anticipate that Builders FirstSource will post 11.65 earnings per share for the current fiscal year.

Builders FirstSource announced that its Board of Directors has approved a stock repurchase plan on Tuesday, August 6th that authorizes the company to buyback $1.00 billion in shares. This buyback authorization authorizes the company to repurchase up to 5.3% of its shares through open market purchases. Shares buyback plans are usually an indication that the company’s leadership believes its stock is undervalued.

Insider Buying and Selling

In related news, Director Craig Arthur Steinke sold 30,000 shares of the stock in a transaction dated Thursday, August 8th. The stock was sold at an average price of $153.68, for a total value of $4,610,400.00. Following the completion of the sale, the director now directly owns 95,333 shares of the company’s stock, valued at approximately $14,650,775.44. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 1.80% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the company. Sanctuary Advisors LLC acquired a new position in Builders FirstSource in the 2nd quarter worth about $4,859,000. Clearbridge Investments LLC acquired a new stake in Builders FirstSource in the 2nd quarter valued at approximately $49,000,000. New Century Financial Group LLC acquired a new stake in Builders FirstSource in the 2nd quarter valued at approximately $241,000. 3Chopt Investment Partners LLC acquired a new stake in Builders FirstSource in the 2nd quarter valued at approximately $441,000. Finally, B. Riley Wealth Advisors Inc. acquired a new stake in Builders FirstSource in the 2nd quarter valued at approximately $383,000. 95.53% of the stock is owned by institutional investors and hedge funds.

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.