Builders FirstSource (NYSE:BLDR) Stock Rating Upgraded by StockNews.com

Builders FirstSource (NYSE:BLDR) was upgraded by equities research analysts at StockNews.com from a “hold” rating to a “buy” rating in a note issued to investors on Monday.

Other equities analysts have also issued research reports about the company. Truist Financial raised Builders FirstSource from a “hold” rating to a “buy” rating and raised their price objective for the company from $165.00 to $220.00 in a research report on Monday, September 16th. Jefferies Financial Group reissued a “buy” rating and set a $185.00 price target (down from $205.00) on shares of Builders FirstSource in a research report on Friday, August 9th. Bank of America upped their price objective on shares of Builders FirstSource from $165.00 to $198.00 and gave the stock a “neutral” rating in a report on Thursday. Baird R W upgraded shares of Builders FirstSource from a “hold” rating to a “strong-buy” rating in a report on Wednesday, August 7th. Finally, Barclays dropped their price target 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. Four research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $190.00.

Builders FirstSource Price Performance

Shares of Builders FirstSource stock opened at $197.74 on Monday. The company’s fifty day simple moving average is $167.76 and its two-hundred day simple moving average is $170.66. 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 $24.14 billion, a PE ratio of 16.93, a price-to-earnings-growth ratio of 10.06 and a beta of 2.06. 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 quarterly earnings results on Tuesday, August 6th. The company reported $3.50 earnings per share for the quarter, beating the consensus estimate of $3.02 by $0.48. The business had revenue of $4.46 billion for the quarter, compared to analysts’ expectations of $4.48 billion. Builders FirstSource had a net margin of 8.25% and a return on equity of 37.05%. The firm’s revenue for the quarter was down 1.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted $3.89 earnings per share. As a group, equities analysts expect that Builders FirstSource will post 11.65 EPS for the current year.

Builders FirstSource declared that its board has initiated a stock buyback plan on Tuesday, August 6th that authorizes the company to buyback $1.00 billion in outstanding shares. This buyback authorization authorizes the company to reacquire up to 5.3% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s board believes its shares are undervalued.

Insider Activity

In other news, Director Craig Arthur Steinke sold 30,000 shares of the business’s stock in a transaction that occurred on Thursday, August 8th. The shares were sold at an average price of $153.68, for a total transaction 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. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 1.80% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the company. Innealta Capital LLC purchased a new stake in shares of Builders FirstSource during the 2nd quarter valued at about $27,000. Westside Investment Management Inc. bought a new position in shares of Builders FirstSource in the first quarter worth approximately $31,000. Principal Securities Inc. purchased a new position in shares of Builders FirstSource in the fourth quarter valued at about $32,000. ORG Partners LLC bought a new position in Builders FirstSource in the 1st quarter worth approximately $33,000. Finally, American Capital Advisory LLC purchased a new stake in Builders FirstSource during the 1st quarter valued at approximately $34,000. Institutional investors own 95.53% of the company’s stock.

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.