Builders FirstSource (NYSE:BLDR) Upgraded by Baird R W to “Strong-Buy”

Baird R W upgraded shares of Builders FirstSource (NYSE:BLDR) from a hold rating to a strong-buy rating in a research report report published on Wednesday, Zacks.com reports.

A number of other brokerages have also recently commented on BLDR. StockNews.com cut Builders FirstSource from a buy rating to a hold rating in a research report on Monday, July 22nd. Jefferies Financial Group raised their target price on shares of Builders FirstSource from $226.00 to $237.00 and gave the stock a buy rating in a research note on Thursday, April 18th. Wedbush reaffirmed an outperform rating and set a $175.00 price target on shares of Builders FirstSource in a report on Tuesday. Robert W. Baird raised shares of Builders FirstSource from a neutral rating to an outperform rating and increased their price objective for the stock from $185.00 to $190.00 in a research note on Wednesday. Finally, Royal Bank of Canada lowered their target price on shares of Builders FirstSource from $193.00 to $178.00 and set an outperform rating on the stock in a research note on Wednesday. Six analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Builders FirstSource presently has an average rating of Moderate Buy and a consensus price target of $180.47.

Builders FirstSource Stock Performance

Shares of BLDR stock traded up $2.36 on Wednesday, reaching $155.51. The stock had a trading volume of 1,031,898 shares, compared to its average volume of 1,648,177. The stock has a market cap of $18.98 billion, a P/E ratio of 13.31, a price-to-earnings-growth ratio of 2.57 and a beta of 2.04. The company has a debt-to-equity ratio of 0.75, a quick ratio of 1.45 and a current ratio of 2.21. Builders FirstSource has a 1 year low of $105.24 and a 1 year high of $214.70. The company has a 50 day simple moving average of $149.36 and a 200 day simple moving average of $173.09.

Builders FirstSource (NYSE:BLDR) last issued its quarterly earnings data on Tuesday, August 6th. The company reported $3.50 earnings per share for the quarter, topping the consensus estimate of $3.02 by $0.48. The firm had revenue of $4.46 billion for the quarter, compared to analysts’ expectations of $4.48 billion. Builders FirstSource had a net margin of 8.57% and a return on equity of 38.66%. The business’s quarterly revenue was down 1.6% on a year-over-year basis. During the same quarter in the prior year, the business earned $3.89 EPS. Equities research analysts expect that Builders FirstSource will post 12.91 EPS for the current year.

Builders FirstSource announced that its Board of Directors has authorized a stock repurchase program on Tuesday, August 6th that allows the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization allows the company to reacquire up to 5.3% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s board believes its stock is undervalued.

Insider Activity

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

Hedge Funds Weigh In On Builders FirstSource

A number of hedge funds have recently added to or reduced their stakes in BLDR. Private Trust Co. NA grew its position in shares of Builders FirstSource by 30.7% during the 4th quarter. Private Trust Co. NA now owns 345 shares of the company’s stock worth $58,000 after buying an additional 81 shares in the last quarter. Nisa Investment Advisors LLC raised its holdings in shares of Builders FirstSource by 62.5% in the 4th quarter. Nisa Investment Advisors LLC now owns 4,460 shares of the company’s stock valued at $745,000 after purchasing an additional 1,716 shares in the last quarter. Bleakley Financial Group LLC lifted its position in shares of Builders FirstSource by 10.4% in the 4th quarter. Bleakley Financial Group LLC now owns 2,135 shares of the company’s stock worth $356,000 after purchasing an additional 201 shares during the period. International Assets Investment Management LLC bought a new position in shares of Builders FirstSource during the fourth quarter valued at approximately $221,000,000. Finally, Allspring Global Investments Holdings LLC increased its holdings in Builders FirstSource by 53.2% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 94,505 shares of the company’s stock valued at $15,777,000 after buying an additional 32,819 shares during the period. 95.53% of the stock is currently owned by 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.