Wedbush Cuts Builders FirstSource (NYSE:BLDR) Price Target to $175.00

Builders FirstSource (NYSE:BLDR) had its price objective cut by Wedbush from $215.00 to $175.00 in a report published on Tuesday, Benzinga reports. They currently have an outperform rating on the stock.

Other research analysts have also recently issued research reports about the company. Robert W. Baird dropped their price objective on Builders FirstSource from $207.00 to $197.00 and set a neutral rating on the stock in a research note on Wednesday, May 8th. Barclays dropped their target price on Builders FirstSource from $240.00 to $200.00 and set an overweight rating on the stock in a research report on Wednesday, May 8th. StockNews.com cut Builders FirstSource from a buy rating to a hold rating in a research report on Friday, June 21st. Zelman & Associates reaffirmed a hold rating on shares of Builders FirstSource in a research report on Monday, June 17th. Finally, DA Davidson reaffirmed a neutral rating and set a $185.00 target price on shares of Builders FirstSource in a research report on Thursday, March 28th. Five analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of Moderate Buy and a consensus target price of $192.47.

Builders FirstSource Stock Performance

NYSE BLDR opened at $138.41 on Tuesday. The firm has a market cap of $16.89 billion, a price-to-earnings ratio of 11.85, a price-to-earnings-growth ratio of 2.20 and a beta of 2.08. The company has a quick ratio of 1.45, a current ratio of 2.21 and a debt-to-equity ratio of 0.75. The business has a 50-day moving average price of $162.63 and a 200-day moving average price of $175.79. Builders FirstSource has a twelve month low of $105.24 and a twelve month high of $214.70.

Builders FirstSource (NYSE:BLDR) last issued its quarterly earnings data on Tuesday, May 7th. The company reported $2.65 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.42 by $0.23. Builders FirstSource had a return on equity of 38.66% and a net margin of 8.57%. The business had revenue of $3.89 billion for the quarter, compared to the consensus estimate of $3.83 billion. During the same period in the prior year, the business posted $2.96 earnings per share. The company’s quarterly revenue was up .2% compared to the same quarter last year. As a group, equities research analysts predict that Builders FirstSource will post 12.93 EPS for the current fiscal year.

Insider Buying and Selling

In other news, insider Paul M. Mccrobie sold 9,118 shares of the business’s stock in a transaction that occurred on Friday, May 24th. The stock was sold at an average price of $170.11, for a total transaction of $1,551,062.98. Following the transaction, the insider now directly owns 22,667 shares in the company, valued at approximately $3,855,883.37. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, insider Paul M. Mccrobie sold 9,118 shares of Builders FirstSource stock in a transaction that occurred on Friday, May 24th. The shares were sold at an average price of $170.11, for a total transaction of $1,551,062.98. Following the sale, the insider now owns 22,667 shares of the company’s stock, valued at approximately $3,855,883.37. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Michael Hiller sold 4,875 shares of the business’s stock in a transaction that occurred on Thursday, May 30th. The shares were sold at an average price of $159.25, for a total value of $776,343.75. Following the completion of the sale, the insider now directly owns 30,106 shares in the company, valued at approximately $4,794,380.50. The disclosure for this sale can be found here. 1.80% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Builders FirstSource

Institutional investors and hedge funds have recently modified their holdings of the company. Kestra Advisory Services LLC acquired a new position in Builders FirstSource in the third quarter valued at $261,000. Envestnet Portfolio Solutions Inc. acquired a new position in Builders FirstSource in the third quarter valued at $333,000. Envestnet Asset Management Inc. boosted its stake in Builders FirstSource by 96.9% in the third quarter. Envestnet Asset Management Inc. now owns 121,817 shares of the company’s stock valued at $15,165,000 after acquiring an additional 59,951 shares in the last quarter. LPL Financial LLC boosted its stake in Builders FirstSource by 66.9% in the third quarter. LPL Financial LLC now owns 197,971 shares of the company’s stock valued at $24,645,000 after acquiring an additional 79,330 shares in the last quarter. Finally, Stifel Financial Corp boosted its stake in Builders FirstSource by 19.2% in the third quarter. Stifel Financial Corp now owns 85,488 shares of the company’s stock valued at $10,642,000 after acquiring an additional 13,768 shares in the last quarter. Institutional investors and hedge funds 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.