Builders FirstSource (NYSE:BLDR) Upgraded to Buy at StockNews.com

StockNews.com upgraded shares of Builders FirstSource (NYSE:BLDR) from a hold rating to a buy rating in a research note published on Tuesday.

Several other equities analysts also recently weighed in on BLDR. Truist Financial raised Builders FirstSource from a hold rating to a buy rating and raised their price target for the stock from $165.00 to $220.00 in a research report on Monday. Jefferies Financial Group reaffirmed a buy rating and set a $185.00 price target (down from $205.00) on shares of Builders FirstSource in a research note on Friday, August 9th. Benchmark reduced their price objective on shares of Builders FirstSource from $220.00 to $200.00 and set a buy rating on the stock in a research note on Wednesday, August 7th. Zelman & Associates reiterated a hold rating on shares of Builders FirstSource in a report on Monday, June 17th. Finally, Stifel Nicolaus decreased their price objective on Builders FirstSource from $217.00 to $195.00 and set a buy rating on the stock in a report on Thursday, August 8th. Four research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of Moderate Buy and an average price target of $187.14.

Builders FirstSource Price Performance

Shares of NYSE:BLDR opened at $201.83 on Tuesday. The firm has a market capitalization of $24.63 billion, a price-to-earnings ratio of 17.28, a price-to-earnings-growth ratio of 10.06 and a beta of 2.06. The company has a debt-to-equity ratio of 0.88, a current ratio of 1.83 and a quick ratio of 1.14. The business’s 50 day simple moving average is $166.86 and its 200-day simple moving average is $171.08. Builders FirstSource has a 12 month low of $105.24 and a 12 month high of $214.70.

Builders FirstSource (NYSE:BLDR) last released its quarterly earnings data on Tuesday, August 6th. The company reported $3.50 EPS for the quarter, topping the consensus estimate of $3.02 by $0.48. The business had revenue of $4.46 billion for the quarter, compared to analyst estimates of $4.48 billion. Builders FirstSource had a net margin of 8.25% and a return on equity of 37.05%. The business’s revenue for the quarter was down 1.6% compared to the same quarter last year. During the same period in the previous year, the firm earned $3.89 EPS. As a group, equities analysts forecast that Builders FirstSource will post 11.65 earnings per share for the current fiscal year.

Builders FirstSource announced that its board has initiated a share buyback program on Tuesday, August 6th that allows the company to buyback $1.00 billion in shares. This buyback authorization allows the company to buy up to 5.3% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s board believes its shares are undervalued.

Insider Activity at Builders FirstSource

In related news, Director Craig Arthur Steinke sold 30,000 shares of the company’s stock in a transaction on Thursday, August 8th. The shares were sold at an average price of $153.68, for a total transaction of $4,610,400.00. Following the completion of the sale, the director now directly owns 95,333 shares of the company’s stock, valued at approximately $14,650,775.44. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 1.80% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Builders FirstSource

Institutional investors and hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. raised its position in shares of Builders FirstSource by 15.7% in the 4th quarter. Vanguard Group Inc. now owns 14,668,049 shares of the company’s stock valued at $2,448,684,000 after purchasing an additional 1,985,297 shares in the last quarter. Westfield Capital Management Co. LP raised its stake in Builders FirstSource by 11.2% during the fourth quarter. Westfield Capital Management Co. LP now owns 1,416,611 shares of the company’s stock valued at $236,489,000 after buying an additional 143,041 shares in the last quarter. Boston Partners grew its position in shares of Builders FirstSource by 0.8% in the 1st quarter. Boston Partners now owns 1,377,335 shares of the company’s stock worth $285,794,000 after acquiring an additional 10,551 shares in the last quarter. Norges Bank bought a new stake in shares of Builders FirstSource in the 4th quarter valued at approximately $212,209,000. Finally, Massachusetts Financial Services Co. MA lifted its stake in Builders FirstSource by 339.8% during the second quarter. Massachusetts Financial Services Co. MA now owns 1,180,358 shares of the company’s stock worth $163,373,000 after purchasing an additional 911,990 shares during the last quarter. Hedge funds and other institutional investors 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.