Loop Capital Raises Builders FirstSource (NYSE:BLDR) Price Target to $230.00

Builders FirstSource (NYSE:BLDR) had its target price increased by equities research analysts at Loop Capital from $190.00 to $230.00 in a research note issued on Friday, Benzinga reports. The brokerage currently has a “buy” rating on the stock. Loop Capital’s price target would suggest a potential upside of 13.96% from the stock’s current price.

A number of other research firms have also weighed in on BLDR. Royal Bank of Canada decreased their price target on Builders FirstSource from $193.00 to $178.00 and set an “outperform” rating for the company in a research report on Wednesday, August 7th. Wedbush reissued an “outperform” rating and issued a $175.00 target price on shares of Builders FirstSource in a research report on Tuesday, August 6th. Bank of America upped their price target on shares of Builders FirstSource from $165.00 to $198.00 and gave the company a “neutral” rating in a research report on Thursday. Jefferies Financial Group reiterated a “buy” rating and set a $185.00 price objective (down from $205.00) on shares of Builders FirstSource in a research report on Friday, August 9th. Finally, Truist Financial upgraded Builders FirstSource from a “hold” rating to a “buy” rating and increased their target price for the company from $165.00 to $220.00 in a report on Monday. Four equities research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $190.00.

Builders FirstSource Price Performance

Shares of NYSE BLDR opened at $201.83 on Friday. Builders FirstSource has a twelve month low of $105.24 and a twelve month high of $214.70. The company has a current ratio of 1.83, a quick ratio of 1.14 and a debt-to-equity ratio of 0.88. The firm has a 50-day moving average of $166.86 and a two-hundred day moving average of $171.08. The company has a market capitalization of $24.63 billion, a price-to-earnings ratio of 17.28, a PEG ratio of 10.06 and a beta of 2.06.

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

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

Insider Transactions at Builders FirstSource

In other Builders FirstSource news, Director Craig Arthur Steinke sold 30,000 shares of the firm’s stock in a transaction dated Thursday, August 8th. The stock was sold at an average price of $153.68, for a total transaction of $4,610,400.00. Following the transaction, the director now directly owns 95,333 shares in the company, valued at $14,650,775.44. The transaction was disclosed in a filing with the SEC, which is available through this link. 1.80% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Builders FirstSource

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

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.