Barclays Cuts Builders FirstSource (NYSE:BLDR) Price Target to $135.00

Builders FirstSource (NYSE:BLDR) had its price target lowered by Barclays from $137.00 to $135.00 in a research report released on Friday,Benzinga reports. The brokerage currently has an overweight rating on the stock.

A number of other research analysts also recently weighed in on the stock. Loop Capital decreased their target price on shares of Builders FirstSource from $190.00 to $170.00 and set a “buy” rating for the company in a research report on Monday, April 14th. BMO Capital Markets decreased their price objective on shares of Builders FirstSource from $146.00 to $135.00 and set a “market perform” rating for the company in a research report on Monday, May 5th. Wedbush cut their target price on shares of Builders FirstSource from $190.00 to $145.00 and set an “outperform” rating for the company in a research note on Friday, June 20th. Oppenheimer set a $155.00 target price on shares of Builders FirstSource and gave the stock an “outperform” rating in a research note on Thursday, July 10th. Finally, Raymond James Financial reiterated an “outperform” rating and issued a $140.00 price objective (down previously from $170.00) on shares of Builders FirstSource in a research note on Friday, May 2nd. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $158.79.

Builders FirstSource Stock Up 2.4%

Builders FirstSource stock opened at $130.18 on Friday. The company has a market cap of $14.39 billion, a P/E ratio of 19.75, a price-to-earnings-growth 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 fifty day simple moving average of $120.51 and a 200 day simple moving average of $128.65. The company has a current ratio of 1.79, a quick ratio of 1.08 and a debt-to-equity ratio of 1.12.

Builders FirstSource (NYSE:BLDR) last released its earnings results on Thursday, July 31st. The company reported $2.38 earnings per share for the quarter, beating analysts’ consensus estimates of $2.35 by $0.03. The business had revenue of $4.23 billion during the quarter, compared to the consensus estimate of $4.29 billion. Builders FirstSource had a net margin of 4.74% and a return on equity of 24.61%. The firm’s revenue for the quarter was down 5.0% compared to the same quarter last year. During the same quarter last year, the firm earned $3.50 earnings per share. Research analysts anticipate that Builders FirstSource will post 11.59 earnings per share for the current fiscal year.

Builders FirstSource announced that its board has authorized a share buyback program on Thursday, May 1st that allows the company to buyback $500.00 million in outstanding shares. This buyback authorization allows the company to purchase up to 3.9% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s board of directors believes its stock is undervalued.

Insider Buying and Selling

In other Builders FirstSource news, Director Dirkson R. Charles bought 5,000 shares of Builders FirstSource stock in a transaction on Tuesday, May 27th. The shares were purchased at an average cost of $109.67 per share, with a total value of $548,350.00. Following the acquisition, the director directly owned 5,000 shares of the company’s stock, valued at $548,350. The trade was a ∞ increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Paul S. Levy purchased 283,517 shares of the company’s stock in a transaction dated Thursday, May 8th. The stock was purchased at an average price of $111.21 per share, for a total transaction of $31,529,925.57. Following the transaction, the director directly owned 1,672,687 shares in the company, valued at approximately $186,019,521.27. This trade represents a 20.41% increase in their position. The disclosure for this purchase can be found here. Insiders have acquired a total of 505,000 shares of company stock worth $56,032,120 over the last three months. Insiders own 1.80% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of BLDR. IMA Advisory Services Inc. acquired a new position in shares of Builders FirstSource during the 1st quarter valued at $31,000. Sentry Investment Management LLC acquired a new position in shares of Builders FirstSource during the 1st quarter valued at $40,000. CX Institutional acquired a new position in shares of Builders FirstSource during the 1st quarter valued at $45,000. AlphaQuest LLC acquired a new position in shares of Builders FirstSource during the 2nd quarter valued at $67,000. Finally, New Age Alpha Advisors LLC acquired a new position in shares of Builders FirstSource during the 4th quarter valued at $74,000. Institutional investors and hedge funds own 95.53% of the company’s stock.

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.