DA Davidson Expects Weaker Earnings for Builders FirstSource

Builders FirstSource, Inc. (NYSE:BLDR) – Equities research analysts at DA Davidson reduced their Q3 2024 EPS estimates for Builders FirstSource in a research note issued to investors on Thursday, October 24th. DA Davidson analyst K. Yinger now anticipates that the company will post earnings per share of $3.03 for the quarter, down from their previous estimate of $3.06. The consensus estimate for Builders FirstSource’s current full-year earnings is $11.68 per share. DA Davidson also issued estimates for Builders FirstSource’s FY2025 earnings at $12.83 EPS.

BLDR has been the topic of several other reports. B. Riley decreased their price target on shares of Builders FirstSource from $197.00 to $187.00 and set a “buy” rating on the stock in a research report on Wednesday, August 7th. Truist Financial upgraded shares of Builders FirstSource from a “hold” rating to a “buy” rating and increased their price target for the stock from $165.00 to $220.00 in a research report on Monday, September 16th. Robert W. Baird increased their price target on shares of Builders FirstSource from $190.00 to $222.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 16th. Wedbush reiterated an “outperform” rating and issued a $175.00 price target on shares of Builders FirstSource in a research report on Tuesday, August 6th. Finally, Royal Bank of Canada decreased their price target on shares of 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 analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Builders FirstSource has an average rating of “Moderate Buy” and a consensus price target of $200.35.

Builders FirstSource Trading Down 7.1 %

Shares of BLDR stock opened at $171.66 on Monday. Builders FirstSource has a 12-month low of $105.24 and a 12-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’s 50 day moving average is $184.34 and its 200 day moving average is $168.76. The stock has a market capitalization of $20.95 billion, a P/E ratio of 14.69, a P/E/G ratio of 11.48 and a beta of 2.06.

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 the consensus estimate of $3.02 by $0.48. Builders FirstSource had a net margin of 8.25% and a return on equity of 37.05%. The company had revenue of $4.46 billion for the quarter, compared to analysts’ expectations of $4.48 billion. During the same quarter last year, the company posted $3.89 earnings per share. The firm’s quarterly revenue was down 1.6% on a year-over-year basis.

Builders FirstSource declared that its board has approved a share repurchase program on Tuesday, August 6th that permits the company to buyback $1.00 billion in shares. This buyback authorization permits the company to purchase up to 5.3% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s management believes its shares are undervalued.

Insiders Place Their Bets

In other Builders FirstSource news, Director Craig Arthur Steinke sold 30,000 shares of Builders FirstSource stock in a transaction 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 transaction, the director now directly owns 95,333 shares of the company’s stock, valued at $14,650,775.44. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 1.80% of the company’s stock.

Hedge Funds Weigh In On Builders FirstSource

A number of institutional investors and hedge funds have recently made changes to their positions in BLDR. Boston Partners boosted its stake in shares of Builders FirstSource by 0.8% during the 1st quarter. Boston Partners now owns 1,377,335 shares of the company’s stock worth $285,794,000 after purchasing an additional 10,551 shares during the period. Massachusetts Financial Services Co. MA boosted its stake in shares of Builders FirstSource by 339.8% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 1,180,358 shares of the company’s stock worth $163,373,000 after purchasing an additional 911,990 shares during the period. Bank of New York Mellon Corp boosted its stake in shares of Builders FirstSource by 22.7% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,062,488 shares of the company’s stock worth $147,059,000 after purchasing an additional 196,571 shares during the period. William Blair Investment Management LLC boosted its stake in shares of Builders FirstSource by 1.2% during the 2nd quarter. William Blair Investment Management LLC now owns 1,051,461 shares of the company’s stock worth $145,533,000 after purchasing an additional 12,518 shares during the period. Finally, Anomaly Capital Management LP boosted its stake in shares of Builders FirstSource by 22.5% during the 2nd quarter. Anomaly Capital Management LP now owns 1,020,441 shares of the company’s stock worth $141,239,000 after purchasing an additional 187,371 shares during the period. 95.53% of the stock is owned by hedge funds and other institutional investors.

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.