Builders FirstSource (NYSE:BLDR) Stock Rating Lowered by Baird R W

Builders FirstSource (NYSE:BLDR) was downgraded by research analysts at Baird R W from a “strong-buy” rating to a “hold” rating in a research note issued to investors on Friday,Zacks.com reports.

Other analysts also recently issued research reports about the company. Royal Bank Of Canada downgraded Builders FirstSource from an “outperform” rating to a “sector perform” rating and lowered their price objective for the company from $132.00 to $129.00 in a research report on Friday. Barclays decreased their target price on Builders FirstSource from $137.00 to $135.00 and set an “overweight” rating for the company in a report on Friday. Stephens decreased their target price on Builders FirstSource from $145.00 to $140.00 and set an “overweight” rating for the company in a report on Friday, May 2nd. Loop Capital decreased their target price on Builders FirstSource from $190.00 to $170.00 and set a “buy” rating for the company in a report on Monday, April 14th. Finally, Raymond James Financial restated an “outperform” rating and set a $140.00 target price (down previously from $170.00) on shares of Builders FirstSource in a report on Friday, May 2nd. One analyst has rated the stock with a sell rating, nine have given a hold rating and twelve have given a buy rating to the company. According to MarketBeat.com, Builders FirstSource currently has an average rating of “Moderate Buy” and a consensus target price of $158.79.

Builders FirstSource Stock Performance

NYSE:BLDR opened at $130.18 on Friday. The business has a 50 day moving average of $120.51 and a 200 day moving average of $128.87. The company has a market capitalization of $14.39 billion, a price-to-earnings ratio of 19.75, a PEG ratio of 11.90 and a beta of 1.68. Builders FirstSource has a 1-year low of $102.60 and a 1-year high of $203.14. The company has a debt-to-equity ratio of 1.12, a current ratio of 1.79 and a quick ratio of 1.07.

Builders FirstSource (NYSE:BLDR) last announced its quarterly earnings data on Thursday, July 31st. The company reported $2.38 earnings per share for the quarter, beating the consensus estimate of $2.35 by $0.03. Builders FirstSource had a return on equity of 24.61% and a net margin of 4.74%. The firm had revenue of $4.23 billion during the quarter, compared to the consensus estimate of $4.29 billion. During the same quarter in the previous year, the company posted $3.50 earnings per share. The business’s revenue was down 5.0% on a year-over-year basis. On average, sell-side analysts predict that Builders FirstSource will post 11.59 earnings per share for the current fiscal year.

Builders FirstSource announced that its board has approved a share repurchase program on Thursday, May 1st that authorizes the company to repurchase $500.00 million in outstanding shares. This repurchase authorization authorizes the company to repurchase up to 3.9% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s management believes its stock is undervalued.

Insiders Place Their Bets

In related news, Director Paul S. Levy bought 283,517 shares of the business’s stock in a transaction dated Thursday, May 8th. The shares were purchased at an average cost of $111.21 per share, with a total value of $31,529,925.57. Following the completion of the purchase, the director owned 1,672,687 shares in the company, valued at approximately $186,019,521.27. The trade was a 20.41% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Dirkson R. Charles bought 5,000 shares of the business’s stock in a transaction dated Tuesday, May 27th. The stock was bought at an average cost of $109.67 per share, for a total transaction of $548,350.00. Following the completion of the purchase, the director owned 5,000 shares of the company’s stock, valued at approximately $548,350. The trade was a ∞ increase in their position. The disclosure for this purchase can be found here. Over the last three months, insiders bought 505,000 shares of company stock worth $56,032,120. Insiders own 2.00% of the company’s stock.

Institutional Investors Weigh In On Builders FirstSource

A number of institutional investors have recently modified their holdings of the stock. Wincap Financial LLC grew its stake in shares of Builders FirstSource by 12.9% in the second quarter. Wincap Financial LLC now owns 10,515 shares of the company’s stock worth $1,227,000 after acquiring an additional 1,205 shares during the last quarter. AustralianSuper Pty Ltd lifted its holdings in shares of Builders FirstSource by 37.9% during the second quarter. AustralianSuper Pty Ltd now owns 420,477 shares of the company’s stock valued at $49,065,000 after purchasing an additional 115,505 shares in the last quarter. Teacher Retirement System of Texas lifted its holdings in shares of Builders FirstSource by 2.7% during the second quarter. Teacher Retirement System of Texas now owns 17,292 shares of the company’s stock valued at $2,018,000 after purchasing an additional 454 shares in the last quarter. Y Intercept Hong Kong Ltd bought a new position in shares of Builders FirstSource during the second quarter valued at $2,480,000. Finally, Envestnet Asset Management Inc. lifted its holdings in shares of Builders FirstSource by 2.7% during the second quarter. Envestnet Asset Management Inc. now owns 315,735 shares of the company’s stock valued at $36,842,000 after purchasing an additional 8,386 shares in the last quarter. 95.53% of the stock is owned by hedge funds and other institutional investors.

Builders FirstSource Company Profile

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.