Builders FirstSource (NYSE:BLDR) Price Target Raised to $128.00

Builders FirstSource (NYSE:BLDR) had its target price increased by Stifel Nicolaus from $118.00 to $128.00 in a research note published on Friday morning,Benzinga reports. The firm currently has a hold rating on the stock.

A number of other research analysts have also weighed in on BLDR. BMO Capital Markets cut their target price on shares of Builders FirstSource from $146.00 to $135.00 and set a “market perform” rating for the company in a report on Monday, May 5th. Wedbush decreased their target price on Builders FirstSource from $190.00 to $145.00 and set an “outperform” rating for the company in a research report on Friday, June 20th. Loop Capital reduced their target price on shares of Builders FirstSource from $190.00 to $170.00 and set a “buy” rating on the stock in a research report on Monday, April 14th. Royal Bank Of Canada downgraded Builders FirstSource from an “outperform” rating to a “sector perform” rating and decreased their price objective for the company from $132.00 to $129.00 in a report on Friday. Finally, Deutsche Bank Aktiengesellschaft restated a “hold” rating and issued a $134.00 price objective on shares of Builders FirstSource in a report on Friday. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $158.79.

Builders FirstSource Price Performance

Shares of NYSE:BLDR opened at $130.18 on Friday. Builders FirstSource has a twelve month low of $102.60 and a twelve month high of $203.14. The stock has a market capitalization of $14.39 billion, a PE ratio of 19.75, a price-to-earnings-growth ratio of 11.90 and a beta of 1.68. The firm’s 50 day moving average price is $120.51 and its 200-day moving average price is $128.65. The company has a quick ratio of 1.08, a current ratio of 1.79 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 EPS for the quarter, topping analysts’ consensus estimates of $2.35 by $0.03. Builders FirstSource had a net margin of 4.74% and a return on equity of 24.61%. The company had revenue of $4.23 billion for the quarter, compared to analysts’ expectations of $4.29 billion. During the same quarter last year, the business earned $3.50 EPS. The firm’s revenue was down 5.0% compared to the same quarter last year. Equities research analysts expect that Builders FirstSource will post 11.59 EPS for the current year.

Builders FirstSource announced that its Board of Directors has approved a share buyback plan on Thursday, May 1st that permits the company to repurchase $500.00 million in outstanding shares. This repurchase authorization permits the company to buy up to 3.9% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s leadership believes its shares are undervalued.

Insider Buying and Selling

In other news, Director Paul S. Levy bought 283,517 shares of the company’s stock in a transaction that occurred on Thursday, May 8th. The shares were purchased at an average price of $111.21 per share, for a total transaction of $31,529,925.57. Following the completion of the transaction, the director directly owned 1,672,687 shares in the company, valued at approximately $186,019,521.27. This represents a 20.41% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Dirkson R. Charles bought 5,000 shares of the company’s stock in a transaction that occurred on Tuesday, May 27th. The stock was purchased at an average price of $109.67 per share, for a total transaction of $548,350.00. Following the transaction, the director owned 5,000 shares of the company’s stock, valued at $548,350. The trade was a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last quarter, insiders purchased 505,000 shares of company stock worth $56,032,120. 1.80% of the stock is owned by insiders.

Institutional Investors Weigh In On Builders FirstSource

Hedge funds have recently bought and sold shares of the stock. IMA Advisory Services Inc. purchased a new stake in Builders FirstSource in the 1st quarter worth approximately $31,000. Sentry Investment Management LLC purchased a new stake in Builders FirstSource in the 1st quarter worth approximately $40,000. CX Institutional purchased a new stake in Builders FirstSource in the 1st quarter worth approximately $45,000. AlphaQuest LLC purchased a new stake in Builders FirstSource in the 2nd quarter worth approximately $67,000. Finally, New Age Alpha Advisors LLC purchased a new stake in Builders FirstSource in the 4th quarter worth approximately $74,000. Hedge funds and other institutional investors own 95.53% of the company’s stock.

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.