Builders FirstSource (NYSE:BLDR) Shares Gap Up on Analyst Upgrade

Builders FirstSource, Inc. (NYSE:BLDR)’s share price gapped up before the market opened on Thursday after Jefferies Financial Group raised their price target on the stock from $226.00 to $237.00. The stock had previously closed at $179.31, but opened at $184.44. Jefferies Financial Group currently has a buy rating on the stock. Builders FirstSource shares last traded at $183.63, with a volume of 151,998 shares.

BLDR has been the subject of a number of other reports. Royal Bank of Canada boosted their price target on Builders FirstSource from $186.00 to $211.00 and gave the company an “outperform” rating in a report on Friday, February 23rd. Oppenheimer boosted their price target on Builders FirstSource from $220.00 to $242.00 and gave the company an “outperform” rating in a report on Friday, February 23rd. Truist Financial boosted their price target on Builders FirstSource from $185.00 to $190.00 and gave the company a “hold” rating in a report on Friday, February 23rd. Barclays boosted their price target on Builders FirstSource from $235.00 to $240.00 and gave the company an “overweight” rating in a report on Thursday, April 4th. Finally, Bank of America raised Builders FirstSource from a “neutral” rating to a “buy” rating and boosted their price target for the company from $153.00 to $200.00 in a report on Monday, January 29th. Four research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $190.06.

Insider Buying and Selling

In related news, Director Cory Jacobs Boydston sold 7,759 shares of the business’s stock in a transaction that occurred on Tuesday, March 12th. The stock was sold at an average price of $200.00, for a total transaction of $1,551,800.00. Following the completion of the sale, the director now directly owns 28,738 shares in the company, valued at $5,747,600. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.90% of the stock is owned by company insiders.

Institutional Trading of Builders FirstSource

Several large investors have recently made changes to their positions in BLDR. EdgeRock Capital LLC purchased a new stake in shares of Builders FirstSource during the fourth quarter worth approximately $25,000. Contravisory Investment Management Inc. acquired a new position in Builders FirstSource during the fourth quarter worth $28,000. Rakuten Securities Inc. acquired a new position in Builders FirstSource during the fourth quarter worth $29,000. Rock Creek Group LP acquired a new position in Builders FirstSource during the third quarter worth $30,000. Finally, BluePath Capital Management LLC acquired a new position in Builders FirstSource during the third quarter worth $31,000. 95.53% of the stock is currently owned by hedge funds and other institutional investors.

Builders FirstSource Price Performance

The stock has a 50 day simple moving average of $195.47 and a two-hundred day simple moving average of $162.39. The company has a market cap of $22.25 billion, a price-to-earnings ratio of 15.22, a price-to-earnings-growth ratio of 1.11 and a beta of 2.04. The company has a debt-to-equity ratio of 0.67, a current ratio of 1.77 and a quick ratio of 1.11.

Builders FirstSource (NYSE:BLDR) last released its quarterly earnings data on Thursday, February 22nd. The company reported $3.55 earnings per share for the quarter, topping analysts’ consensus estimates of $2.70 by $0.85. The company had revenue of $4.15 billion for the quarter, compared to analyst estimates of $4.01 billion. Builders FirstSource had a return on equity of 41.10% and a net margin of 9.01%. On average, equities research analysts predict that Builders FirstSource, Inc. will post 13.84 earnings per share for the current fiscal year.

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.