Builders FirstSource (NYSE:BLDR) Given New $110.00 Price Target at Oppenheimer

Builders FirstSource (NYSE:BLDR) had its target price reduced by Oppenheimer from $121.00 to $110.00 in a research note released on Thursday, Marketbeat reports. Oppenheimer currently has an outperform rating on the stock.

A number of other research firms have also commented on BLDR. Stifel Nicolaus decreased their price target on Builders FirstSource from $76.00 to $70.00 and set a “hold” rating on the stock in a research report on Thursday. Deutsche Bank Aktiengesellschaft cut their price objective on Builders FirstSource from $102.00 to $81.00 and set a “hold” rating for the company in a research report on Monday, May 4th. Wolfe Research upgraded Builders FirstSource to a “hold” rating in a report on Thursday, May 14th. Barclays decreased their target price on Builders FirstSource from $114.00 to $93.00 and set an “overweight” rating on the stock in a report on Friday, May 1st. Finally, KeyCorp cut their price target on Builders FirstSource from $100.00 to $91.00 and set an “overweight” rating for the company in a report on Monday, July 13th. Nine investment analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat.com, Builders FirstSource presently has an average rating of “Hold” and a consensus target price of $100.35.

Builders FirstSource Price Performance

NYSE:BLDR opened at $70.53 on Thursday. The company has a quick ratio of 1.09, a current ratio of 1.76 and a debt-to-equity ratio of 1.15. The firm has a market cap of $7.59 billion, a PE ratio of 27.02, a price-to-earnings-growth ratio of 1.69 and a beta of 1.42. Builders FirstSource has a 12 month low of $65.10 and a 12 month high of $151.03. The company’s 50-day moving average price is $77.06 and its two-hundred day moving average price is $91.47.

Builders FirstSource (NYSE:BLDR) last posted its quarterly earnings data on Thursday, April 30th. The company reported $0.27 earnings per share for the quarter, missing the consensus estimate of $0.39 by ($0.12). Builders FirstSource had a return on equity of 14.89% and a net margin of 1.97%.The firm had revenue of $3.29 billion for the quarter, compared to analyst estimates of $3.17 billion. During the same period in the previous year, the business posted $1.51 EPS. The business’s quarterly revenue was down 10.1% on a year-over-year basis. On average, equities analysts anticipate that Builders FirstSource will post 4.29 EPS for the current fiscal year.

Builders FirstSource announced that its Board of Directors has authorized a share repurchase plan on Thursday, April 30th that authorizes the company to repurchase $500.00 million in shares. This repurchase authorization authorizes the company to buy up to 5.4% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s board of directors believes its stock is undervalued.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of BLDR. State Street Corp boosted its position in Builders FirstSource by 2.3% in the 4th quarter. State Street Corp now owns 5,108,120 shares of the company’s stock valued at $525,574,000 after buying an additional 115,857 shares during the last quarter. Wellington Management Group LLP raised its position in shares of Builders FirstSource by 2.3% during the fourth quarter. Wellington Management Group LLP now owns 3,316,797 shares of the company’s stock worth $341,265,000 after acquiring an additional 73,835 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in shares of Builders FirstSource by 12.3% during the first quarter. Dimensional Fund Advisors LP now owns 2,967,744 shares of the company’s stock valued at $244,301,000 after acquiring an additional 325,935 shares during the period. Geode Capital Management LLC lifted its stake in shares of Builders FirstSource by 0.5% during the fourth quarter. Geode Capital Management LLC now owns 2,817,958 shares of the company’s stock valued at $288,789,000 after acquiring an additional 14,420 shares during the period. Finally, Sands Capital Management LLC boosted its holdings in Builders FirstSource by 13.5% in the fourth quarter. Sands Capital Management LLC now owns 2,757,969 shares of the company’s stock valued at $283,767,000 after acquiring an additional 327,067 shares during the last quarter. Institutional investors and hedge funds own 95.53% of the company’s stock.

About Builders FirstSource

Builders FirstSource, Inc is a leading supplier of structural and value-added building products and services to professional contractors, homebuilders and remodelers. The company provides a comprehensive range of materials and prefabricated components that support all phases of residential construction, from site development and framing to finishing and installation.

The company’s core offerings include lumber and lumber sheet goods, windows and doors, millwork, roofing and siding, and engineered wood products such as roof and floor trusses.