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

StockNews.com downgraded shares of Builders FirstSource (NYSE:BLDR) from a buy rating to a hold rating in a research note released on Wednesday morning.

Other research analysts also recently issued reports about the company. The Goldman Sachs Group assumed coverage on Builders FirstSource in a research note on Thursday, October 10th. They set a “buy” rating and a $225.00 target price on the stock. Robert W. Baird upped their price objective on shares of Builders FirstSource from $190.00 to $222.00 and gave the company an “outperform” rating in a report on Wednesday, October 16th. DA Davidson lifted their target price on shares of Builders FirstSource from $169.00 to $175.00 and gave the stock a “neutral” rating in a research note on Wednesday. Loop Capital boosted their price objective on shares of Builders FirstSource from $190.00 to $230.00 and gave the company a “buy” rating in a report on Friday, September 20th. Finally, Baird R W upgraded Builders FirstSource from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, August 7th. Five research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Builders FirstSource currently has a consensus rating of “Moderate Buy” and a consensus target price of $206.47.

Builders FirstSource Stock Down 0.5 %

NYSE:BLDR opened at $178.35 on Wednesday. The company has a 50-day moving average of $184.79 and a 200 day moving average of $168.38. Builders FirstSource has a 1-year low of $120.80 and a 1-year high of $214.70. The firm has a market cap of $20.52 billion, a PE ratio of 17.42, a price-to-earnings-growth ratio of 10.48 and a beta of 2.08. The company has a debt-to-equity ratio of 0.83, a current ratio of 1.77 and a quick ratio of 1.14.

Builders FirstSource (NYSE:BLDR) last issued its quarterly earnings data on Tuesday, November 5th. The company reported $3.07 earnings per share for the quarter, missing analysts’ consensus estimates of $3.09 by ($0.02). Builders FirstSource had a net margin of 7.40% and a return on equity of 33.55%. The company had revenue of $4.23 billion for the quarter, compared to the consensus estimate of $4.44 billion. During the same period in the previous year, the business earned $4.24 EPS. Builders FirstSource’s revenue for the quarter was down 6.7% compared to the same quarter last year. As a group, research analysts anticipate that Builders FirstSource will post 11.64 EPS for the current fiscal year.

Builders FirstSource announced that its board has initiated a stock repurchase program on Tuesday, August 6th that permits the company to buyback $1.00 billion in outstanding shares. This buyback authorization permits the company to purchase up to 5.3% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s leadership believes its stock is undervalued.

Insider Activity

In related news, Director Cleveland A. Christophe sold 10,000 shares of the company’s stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $178.41, for a total value of $1,784,100.00. Following the completion of the transaction, the director now owns 33,083 shares of the company’s stock, valued at approximately $5,902,338.03. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 1.80% of the company’s stock.

Institutional Investors Weigh In On Builders FirstSource

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Baillie Gifford & Co. purchased a new stake in Builders FirstSource during the 3rd quarter valued at about $267,132,000. Diamond Hill Capital Management Inc. purchased a new stake in Builders FirstSource in the 3rd quarter valued at $255,867,000. Massachusetts Financial Services Co. MA increased its stake in shares of Builders FirstSource by 339.8% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 1,180,358 shares of the company’s stock worth $163,373,000 after acquiring an additional 911,990 shares during the last quarter. Robeco Institutional Asset Management B.V. raised its holdings in shares of Builders FirstSource by 109.7% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 904,600 shares of the company’s stock worth $175,366,000 after acquiring an additional 473,238 shares during the period. Finally, Bessemer Group Inc. boosted its position in shares of Builders FirstSource by 477,028.7% during the 1st quarter. Bessemer Group Inc. now owns 448,501 shares of the company’s stock valued at $93,535,000 after acquiring an additional 448,407 shares during the last quarter. Hedge funds and other institutional investors 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.