Builders FirstSource’s (BLDR) “Outperform” Rating Reaffirmed at Oppenheimer

Oppenheimer reiterated their outperform rating on shares of Builders FirstSource (NYSE:BLDR) in a research report report published on Tuesday, Benzinga reports. They currently have a $225.00 price target on the stock.

A number of other brokerages have also recently commented on BLDR. Royal Bank of Canada dropped their price objective on shares of Builders FirstSource from $193.00 to $178.00 and set an “outperform” rating for the company in a research note on Wednesday, August 7th. Stifel Nicolaus dropped their price target on Builders FirstSource from $217.00 to $195.00 and set a “buy” rating for the company in a research report on Thursday, August 8th. Baird R W raised Builders FirstSource from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, August 7th. StockNews.com upgraded Builders FirstSource from a “hold” rating to a “buy” rating in a report on Monday, September 23rd. Finally, 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 report on Wednesday, August 7th. Four equities research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $200.35.

Builders FirstSource Stock Performance

NYSE BLDR opened at $171.66 on Tuesday. The business has a 50-day moving average price of $184.34 and a 200-day moving average price of $168.76. The firm has a market cap of $20.95 billion, a price-to-earnings ratio of 14.70, a price-to-earnings-growth ratio of 11.48 and a beta of 2.06. Builders FirstSource has a twelve month low of $105.24 and a twelve month 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 earnings results on Tuesday, August 6th. The company reported $3.50 EPS for the quarter, topping the consensus estimate of $3.02 by $0.48. The firm had revenue of $4.46 billion for the quarter, compared to the consensus estimate of $4.48 billion. Builders FirstSource had a net margin of 8.25% and a return on equity of 37.05%. The company’s quarterly revenue was down 1.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $3.89 earnings per share. As a group, equities research analysts predict that Builders FirstSource will post 11.68 EPS for the current fiscal year.

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

Insider Buying and Selling at Builders FirstSource

In related news, Director Craig Arthur Steinke sold 30,000 shares of the company’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 of the company’s stock, valued at $14,650,775.44. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. 1.80% of the stock is owned by insiders.

Hedge Funds Weigh In On Builders FirstSource

Hedge funds and other institutional investors have recently bought and sold shares of the business. Diversified Trust Co purchased a new position in shares of Builders FirstSource during the first quarter worth $559,000. Miracle Mile Advisors LLC purchased a new position in shares of Builders FirstSource during the 1st quarter valued at about $691,000. Norden Group LLC purchased a new stake in shares of Builders FirstSource in the first quarter worth about $265,000. Westside Investment Management Inc. acquired a new stake in Builders FirstSource during the first quarter worth about $31,000. Finally, First Trust Direct Indexing L.P. raised its position in Builders FirstSource by 9.9% during the first quarter. First Trust Direct Indexing L.P. now owns 3,238 shares of the company’s stock valued at $675,000 after acquiring an additional 293 shares in the last quarter. 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.