Brokers Offer Predictions for Builders FirstSource, Inc.’s FY2023 Earnings (NYSE:BLDR)

Builders FirstSource, Inc. (NYSE:BLDR) – Stock analysts at DA Davidson cut their FY2023 earnings estimates for shares of Builders FirstSource in a research note issued to investors on Thursday, November 2nd. DA Davidson analyst K. Yinger now anticipates that the company will post earnings of $13.78 per share for the year, down from their previous estimate of $14.05. The consensus estimate for Builders FirstSource’s current full-year earnings is $13.69 per share. DA Davidson also issued estimates for Builders FirstSource’s FY2024 earnings at $11.42 EPS.

Builders FirstSource (NYSE:BLDR) last announced its quarterly earnings data on Wednesday, November 1st. The company reported $4.24 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.05 by $0.19. Builders FirstSource had a net margin of 9.10% and a return on equity of 41.27%. The company had revenue of $4.53 billion for the quarter, compared to analysts’ expectations of $4.88 billion. During the same period in the previous year, the company posted $5.20 EPS. Builders FirstSource’s revenue was down 21.3% compared to the same quarter last year.

A number of other equities analysts have also recently weighed in on the stock. Royal Bank of Canada lowered their price target on shares of Builders FirstSource from $188.00 to $152.00 and set an “outperform” rating on the stock in a research note on Thursday. Stephens lowered their price target on shares of Builders FirstSource from $175.00 to $150.00 and set an “overweight” rating on the stock in a research note on Thursday. Wedbush reaffirmed an “outperform” rating and set a $175.00 price target on shares of Builders FirstSource in a research note on Thursday, August 3rd. BMO Capital Markets upped their price target on shares of Builders FirstSource from $125.00 to $135.00 and gave the stock a “market perform” rating in a research note on Friday, August 4th. Finally, Barclays reduced their price objective on Builders FirstSource from $200.00 to $175.00 and set an “overweight” rating on the stock in a research note on Thursday, October 12th. Four investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat, Builders FirstSource presently has a consensus rating of “Moderate Buy” and an average target price of $140.77.

Builders FirstSource Stock Performance

NYSE:BLDR opened at $126.79 on Monday. The company has a quick ratio of 1.15, a current ratio of 1.76 and a debt-to-equity ratio of 0.74. Builders FirstSource has a fifty-two week low of $55.35 and a fifty-two week high of $156.85. The stock has a market cap of $15.85 billion, a PE ratio of 10.76 and a beta of 2.04. The firm’s fifty day simple moving average is $124.44 and its 200-day simple moving average is $127.76.

Insider Activity at Builders FirstSource

In related news, insider Michael Hiller sold 5,965 shares of Builders FirstSource stock in a transaction dated Monday, August 14th. The shares were sold at an average price of $147.91, for a total transaction of $882,283.15. Following the sale, the insider now directly owns 32,892 shares in the company, valued at $4,865,055.72. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 1.90% of the company’s stock.

Institutional Investors Weigh In On Builders FirstSource

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. D Orazio & Associates Inc. raised its stake in shares of Builders FirstSource by 3.7% during the third quarter. D Orazio & Associates Inc. now owns 2,360 shares of the company’s stock valued at $294,000 after purchasing an additional 84 shares in the last quarter. Altshuler Shaham Ltd grew its holdings in Builders FirstSource by 5.2% during the first quarter. Altshuler Shaham Ltd now owns 1,759 shares of the company’s stock worth $156,000 after acquiring an additional 87 shares during the period. Measured Wealth Private Client Group LLC grew its holdings in Builders FirstSource by 2.5% during the third quarter. Measured Wealth Private Client Group LLC now owns 3,673 shares of the company’s stock worth $457,000 after acquiring an additional 90 shares during the period. WASHINGTON TRUST Co grew its holdings in Builders FirstSource by 3.5% during the second quarter. WASHINGTON TRUST Co now owns 2,716 shares of the company’s stock worth $369,000 after acquiring an additional 92 shares during the period. Finally, Massmutual Trust Co. FSB ADV grew its holdings in Builders FirstSource by 27.7% during the second quarter. Massmutual Trust Co. FSB ADV now owns 424 shares of the company’s stock worth $58,000 after acquiring an additional 92 shares during the period. 94.73% of the stock is currently owned by institutional investors.

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, steel roof 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.