Builders FirstSource (NYSE:BLDR) Rating Increased to Buy at StockNews.com

Builders FirstSource (NYSE:BLDR) was upgraded by stock analysts at StockNews.com from a “hold” rating to a “buy” rating in a report issued on Tuesday.

Other equities research analysts also recently issued reports about the stock. Royal Bank of Canada lowered their price target on shares of Builders FirstSource from $193.00 to $178.00 and set an “outperform” rating for the company in a report on Wednesday, August 7th. Truist Financial upgraded Builders FirstSource from a “hold” rating to a “buy” rating and boosted their price target for the company from $165.00 to $220.00 in a report on Monday. Benchmark decreased their price objective on Builders FirstSource from $220.00 to $200.00 and set a “buy” rating on the stock in a report on Wednesday, August 7th. Zelman & Associates reiterated a “hold” rating on shares of Builders FirstSource in a research note on Monday, June 17th. Finally, Stifel Nicolaus decreased their price target on Builders FirstSource from $217.00 to $195.00 and set a “buy” rating on the stock in a research note on Thursday, August 8th. Four research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $185.86.

Builders FirstSource Stock Up 0.4 %

BLDR stock opened at $194.60 on Tuesday. The company has a debt-to-equity ratio of 0.88, a current ratio of 1.83 and a quick ratio of 1.14. Builders FirstSource has a 12 month low of $105.24 and a 12 month high of $214.70. The firm has a market capitalization of $23.75 billion, a PE ratio of 16.66, a P/E/G ratio of 10.06 and a beta of 2.06. The company’s 50 day simple moving average is $165.76 and its 200-day simple moving average is $170.86.

Builders FirstSource (NYSE:BLDR) last released its quarterly earnings results on Tuesday, August 6th. The company reported $3.50 earnings per share for the quarter, topping analysts’ consensus estimates of $3.02 by $0.48. Builders FirstSource had a return on equity of 37.05% and a net margin of 8.25%. The company had revenue of $4.46 billion during the quarter, compared to analysts’ expectations of $4.48 billion. During the same period in the previous year, the firm posted $3.89 earnings per share. The business’s revenue for the quarter was down 1.6% compared to the same quarter last year. Equities analysts expect that Builders FirstSource will post 11.65 earnings per share for the current fiscal year.

Builders FirstSource declared that its Board of Directors has approved a share buyback program on Tuesday, August 6th that authorizes the company to buyback $1.00 billion in outstanding shares. This buyback authorization authorizes the company to buy up to 5.3% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s board of directors believes its stock is undervalued.

Insider Transactions at Builders FirstSource

In other Builders FirstSource news, Director Craig Arthur Steinke sold 30,000 shares of the stock in a transaction that occurred 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 completion of the sale, the director now owns 95,333 shares of the company’s stock, valued at $14,650,775.44. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 1.80% of the company’s stock.

Hedge Funds Weigh In On Builders FirstSource

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