Builders FirstSource (NYSE:BLDR) Rating Lowered to “Hold” at StockNews.com

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

BLDR has been the subject of several other reports. Wedbush restated an “outperform” rating and set a $230.00 price objective on shares of Builders FirstSource in a research report on Wednesday, November 6th. Truist Financial upgraded shares of Builders FirstSource from a “hold” rating to a “buy” rating and boosted their price objective for the company from $165.00 to $220.00 in a research report on Monday, September 16th. Bank of America boosted their price objective on shares of Builders FirstSource from $165.00 to $198.00 and gave the company a “neutral” rating in a research report on Thursday, September 19th. 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 research report on Friday, September 20th. Finally, Benchmark lowered their price objective on shares of Builders FirstSource from $220.00 to $200.00 and set a “buy” rating for the company in a research report on Wednesday, August 7th. Five research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $206.47.

Builders FirstSource Trading Down 2.7 %

Shares of BLDR stock opened at $176.28 on Tuesday. The company has a current ratio of 1.77, a quick ratio of 1.16 and a debt-to-equity ratio of 0.83. The stock has a market cap of $20.29 billion, a P/E ratio of 17.21, a price-to-earnings-growth ratio of 1.00 and a beta of 2.08. The stock has a 50 day simple moving average of $185.83 and a 200 day simple moving average of $168.28. Builders FirstSource has a 1 year low of $129.80 and a 1 year high of $214.70.

Builders FirstSource (NYSE:BLDR) last issued its quarterly earnings results on Tuesday, November 5th. The company reported $3.07 earnings per share (EPS) for the quarter, missing the consensus estimate 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 during the quarter, compared to the consensus estimate of $4.44 billion. During the same quarter last year, the firm posted $4.24 earnings per share. The company’s quarterly revenue was down 6.7% on a year-over-year basis. On average, research analysts predict that Builders FirstSource will post 11.56 earnings per share for the current fiscal year.

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

Insider Buying and Selling at Builders FirstSource

In other Builders FirstSource news, Director Cleveland A. Christophe sold 10,000 shares of Builders FirstSource stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $178.41, for a total transaction of $1,784,100.00. Following the transaction, the director now owns 33,083 shares of the company’s stock, valued at $5,902,338.03. This trade represents a 23.21 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 1.80% of the company’s stock.

Hedge Funds Weigh In On Builders FirstSource

Several hedge funds have recently modified their holdings of the company. Brophy Wealth Management LLC bought a new stake in shares of Builders FirstSource in the 3rd quarter worth approximately $894,000. M&T Bank Corp grew its position in shares of Builders FirstSource by 17.2% during the 3rd quarter. M&T Bank Corp now owns 7,043 shares of the company’s stock valued at $1,366,000 after purchasing an additional 1,032 shares in the last quarter. Continuum Advisory LLC grew its position in shares of Builders FirstSource by 32.8% during the 3rd quarter. Continuum Advisory LLC now owns 2,220 shares of the company’s stock valued at $402,000 after purchasing an additional 548 shares in the last quarter. Nomura Asset Management Co. Ltd. grew its position in shares of Builders FirstSource by 4.4% during the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 55,279 shares of the company’s stock valued at $10,716,000 after purchasing an additional 2,354 shares in the last quarter. Finally, Orion Portfolio Solutions LLC grew its position in Builders FirstSource by 86.2% in the third quarter. Orion Portfolio Solutions LLC now owns 3,334 shares of the company’s stock worth $646,000 after acquiring an additional 1,543 shares in the last quarter. 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.