FY2024 Earnings Forecast for BLDR Issued By DA Davidson

Builders FirstSource, Inc. (NYSE:BLDR) – DA Davidson decreased their FY2024 earnings per share (EPS) estimates for shares of Builders FirstSource in a research note issued to investors on Wednesday, November 6th. DA Davidson analyst K. Yinger now forecasts that the company will post earnings per share of $11.56 for the year, down from their previous forecast of $11.76. DA Davidson currently has a “Neutral” rating and a $175.00 target price on the stock. The consensus estimate for Builders FirstSource’s current full-year earnings is $11.69 per share.

Builders FirstSource (NYSE:BLDR) last announced its earnings results on Tuesday, November 5th. The company reported $3.07 EPS for the quarter, missing the consensus estimate of $3.09 by ($0.02). The company had revenue of $4.23 billion for the quarter, compared to analysts’ expectations of $4.44 billion. Builders FirstSource had a net margin of 8.25% and a return on equity of 37.05%. The company’s revenue for the quarter was down 6.7% on a year-over-year basis. During the same period in the prior year, the company earned $4.24 earnings per share.

BLDR has been the topic of a number of other research reports. Wedbush restated an “outperform” rating and set a $230.00 price target on shares of Builders FirstSource in a report on Wednesday. Stephens boosted their target price on shares of Builders FirstSource from $178.00 to $200.00 and gave the company an “overweight” rating in a research note on Thursday. Barclays increased their target price on Builders FirstSource from $182.00 to $211.00 and gave the company an “overweight” rating in a report on Wednesday, October 9th. StockNews.com downgraded Builders FirstSource from a “buy” rating to a “hold” rating in a report on Wednesday. Finally, Truist Financial raised Builders FirstSource from a “hold” rating to a “buy” rating and increased their price objective for the stock from $165.00 to $220.00 in a research note on Monday, September 16th. Five research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Builders FirstSource has a consensus rating of “Moderate Buy” and an average target price of $206.47.

Builders FirstSource Price Performance

BLDR stock opened at $177.99 on Friday. Builders FirstSource has a one year low of $120.80 and a one year high of $214.70. The firm has a 50-day moving average of $184.79 and a two-hundred day moving average of $168.52. The firm has a market capitalization of $20.48 billion, a PE ratio of 17.38, a P/E/G ratio of 10.17 and a beta of 2.08. The company has a current ratio of 1.83, a quick ratio of 1.14 and a debt-to-equity ratio of 0.88.

Institutional Investors Weigh In On Builders FirstSource

Several hedge funds and other institutional investors have recently made changes to their positions in BLDR. Forsta AP Fonden grew its holdings in Builders FirstSource by 12.1% in the 3rd quarter. Forsta AP Fonden now owns 26,800 shares of the company’s stock valued at $5,195,000 after buying an additional 2,900 shares during the last quarter. SG Americas Securities LLC grew its stake in shares of Builders FirstSource by 273.0% in the first quarter. SG Americas Securities LLC now owns 62,622 shares of the company’s stock worth $13,060,000 after acquiring an additional 45,832 shares during the last quarter. Cetera Investment Advisers increased its position in Builders FirstSource by 762.2% during the first quarter. Cetera Investment Advisers now owns 50,982 shares of the company’s stock worth $10,632,000 after acquiring an additional 45,069 shares during the period. Janus Henderson Group PLC raised its stake in Builders FirstSource by 21.1% during the 1st quarter. Janus Henderson Group PLC now owns 20,013 shares of the company’s stock valued at $4,173,000 after purchasing an additional 3,483 shares during the last quarter. Finally, Raymond James Financial Services Advisors Inc. boosted its holdings in Builders FirstSource by 18.6% in the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 115,995 shares of the company’s stock valued at $16,055,000 after purchasing an additional 18,223 shares during the period. 95.53% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Builders FirstSource

In other Builders FirstSource news, Director Cleveland A. Christophe sold 10,000 shares of the firm’s stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $178.41, for a total transaction of $1,784,100.00. Following the transaction, the director now directly owns 33,083 shares in the company, valued at $5,902,338.03. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 1.80% of the stock is currently owned by company insiders.

Builders FirstSource declared that its Board of Directors has approved a share buyback plan on Tuesday, August 6th that authorizes the company to buyback $1.00 billion in shares. This buyback authorization authorizes the company to reacquire up to 5.3% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s board believes its shares are undervalued.

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.