Builders FirstSource (NYSE:BLDR) Price Target Raised to $80.00 at DA Davidson

Builders FirstSource (NYSE:BLDR – Get Rating) had its price target upped by DA Davidson from $68.00 to $80.00 in a report released on Wednesday, The Fly reports. They currently have a neutral rating on the stock. DA Davidson also issued estimates for Builders FirstSource’s Q1 2023 earnings at $1.72 EPS, FY2023 earnings at $7.01 EPS and FY2024 earnings at $7.85 EPS.

Several other research firms have also recently issued reports on BLDR. Robert W. Baird raised their price objective on shares of Builders FirstSource from $80.00 to $96.00 and gave the stock an outperform rating in a research report on Wednesday. Deutsche Bank Aktiengesellschaft upped their target price on shares of Builders FirstSource from $72.00 to $90.00 and gave the company a buy rating in a research report on Tuesday, January 10th. Truist Financial lifted their price target on shares of Builders FirstSource from $85.00 to $97.00 in a research report on Wednesday. Royal Bank of Canada decreased their price objective on shares of Builders FirstSource from $79.00 to $74.00 and set a sector perform rating on the stock in a report on Wednesday, November 9th. Finally, Stifel Nicolaus decreased their target price on Builders FirstSource from $92.00 to $82.00 and set a buy rating on the stock in a research note on Monday, December 19th. Seven equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat, Builders FirstSource has a consensus rating of Moderate Buy and a consensus price target of $89.77.

Builders FirstSource Stock Performance

Shares of NYSE:BLDR opened at $89.18 on Wednesday. The business’s 50 day moving average price is $75.48 and its 200-day moving average price is $65.87. Builders FirstSource has a 1 year low of $48.91 and a 1 year high of $89.41. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.90 and a quick ratio of 1.16. The firm has a market capitalization of $12.31 billion, a PE ratio of 5.36 and a beta of 1.98.

Builders FirstSource (NYSE:BLDR – Get Rating) last announced its earnings results on Tuesday, February 28th. The company reported $3.21 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.37 by $0.84. Builders FirstSource had a net margin of 12.10% and a return on equity of 59.80%. The company had revenue of $4.36 billion for the quarter, compared to analysts’ expectations of $4.25 billion. During the same quarter in the previous year, the company posted $2.78 EPS. The firm’s quarterly revenue was down 6.0% on a year-over-year basis. As a group, equities research analysts expect that Builders FirstSource will post 6.93 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Builders FirstSource

Hedge funds have recently bought and sold shares of the company. Goodwin Investment Advisory acquired a new stake in Builders FirstSource during the second quarter worth about $27,000. Benjamin Edwards Inc. acquired a new position in shares of Builders FirstSource during the fourth quarter valued at $28,000. Banque Cantonale Vaudoise acquired a new stake in shares of Builders FirstSource in the 3rd quarter worth approximately $36,000. AXS Investments LLC bought a new position in Builders FirstSource during the 4th quarter valued at $37,000. Finally, Ronald Blue Trust Inc. bought a new stake in shares of Builders FirstSource in the 2nd quarter worth approximately $42,000. 94.71% of the stock is currently owned by institutional investors and hedge funds.

About Builders FirstSource

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Builders FirstSource, Inc engages in the supply and manufacture of building materials, manufactured components and construction services to professional homebuilders, subcontractors, remodelers and consumers. Its products include factory-built roof and floor trusses, wall panels and stairs, vinyl windows, custom millwork and trim, and engineered wood.