Oppenheimer Increases Builders FirstSource (NYSE:BLDR) Price Target to $225.00

Builders FirstSource (NYSE:BLDR) had its price target increased by Oppenheimer from $205.00 to $225.00 in a report issued on Wednesday, Benzinga reports. The firm currently has an outperform rating on the stock.

Several other research firms have also recently weighed in on BLDR. Bank of America cut Builders FirstSource from a buy rating to a neutral rating and reduced their price objective for the company from $183.00 to $180.00 in a research report on Friday, August 2nd. Robert W. Baird upgraded shares of Builders FirstSource from a neutral rating to an outperform rating and raised their price target for the stock from $185.00 to $190.00 in a research report on Wednesday, August 7th. Zelman & Associates reaffirmed a hold rating on shares of Builders FirstSource in a research report on Monday, June 17th. Royal Bank of Canada decreased their target price on Builders FirstSource from $193.00 to $178.00 and set an outperform rating on the stock in a research report on Wednesday, August 7th. Finally, Barclays cut their price target on Builders FirstSource from $188.00 to $182.00 and set an overweight rating for the company in a report on Wednesday, August 7th. Four equities research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Builders FirstSource currently has a consensus rating of Moderate Buy and a consensus target price of $190.00.

Builders FirstSource Price Performance

NYSE BLDR opened at $197.74 on Wednesday. Builders FirstSource has a fifty-two week low of $105.24 and a fifty-two week high of $214.70. The stock’s 50-day moving average is $167.76 and its two-hundred day moving average is $170.87. The firm has a market cap of $24.14 billion, a P/E ratio of 16.93, 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.

Builders FirstSource (NYSE:BLDR) last announced its earnings results on Tuesday, August 6th. The company reported $3.50 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.02 by $0.48. Builders FirstSource had a return on equity of 37.05% and a net margin of 8.25%. The firm had revenue of $4.46 billion during the quarter, compared to analysts’ expectations of $4.48 billion. During the same quarter in the prior year, the business earned $3.89 earnings per share. The company’s revenue was down 1.6% on a year-over-year basis. On average, analysts anticipate that Builders FirstSource will post 11.65 earnings per share for the current fiscal year.

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

Insider Buying and Selling at Builders FirstSource

In related news, Director Craig Arthur Steinke sold 30,000 shares of the company’s stock in a transaction dated Thursday, August 8th. The stock was sold at an average price of $153.68, for a total value of $4,610,400.00. Following the completion of the sale, the director now owns 95,333 shares in the company, valued at $14,650,775.44. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 1.80% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. increased its position in shares of Builders FirstSource by 15.7% during the fourth quarter. Vanguard Group Inc. now owns 14,668,049 shares of the company’s stock worth $2,448,684,000 after acquiring an additional 1,985,297 shares in the last quarter. Norges Bank acquired a new stake in shares of Builders FirstSource in the 4th quarter valued at about $212,209,000. Massachusetts Financial Services Co. MA lifted its holdings in shares of Builders FirstSource by 339.8% in the second quarter. Massachusetts Financial Services Co. MA now owns 1,180,358 shares of the company’s stock valued at $163,373,000 after purchasing an additional 911,990 shares in the last quarter. Bessemer Group Inc. boosted its position in shares of Builders FirstSource by 477,028.7% during the first quarter. Bessemer Group Inc. now owns 448,501 shares of the company’s stock worth $93,535,000 after buying an additional 448,407 shares during the period. Finally, Clearbridge Investments LLC bought a new position in shares of Builders FirstSource during the second quarter worth about $49,000,000. 95.53% of the stock is owned by institutional investors and hedge funds.

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.