Wedbush Reaffirms “Outperform” Rating for Builders FirstSource (NYSE:BLDR)

Builders FirstSource (NYSE:BLDR)‘s stock had its “outperform” rating restated by analysts at Wedbush in a note issued to investors on Wednesday,Benzinga reports. They currently have a $230.00 price objective on the stock. Wedbush’s target price would indicate a potential upside of 43.72% from the company’s current price.

Several other equities research analysts also recently commented on BLDR. Jefferies Financial Group increased their price objective on Builders FirstSource from $185.00 to $223.00 and gave the company a “buy” rating in a report on Wednesday, October 9th. Oppenheimer restated an “outperform” rating and set a $225.00 price objective on shares of Builders FirstSource in a research note on Tuesday, October 29th. Royal Bank of Canada raised their target price on shares of Builders FirstSource from $178.00 to $187.00 and gave the company an “outperform” rating in a research note on Wednesday, November 6th. The Goldman Sachs Group initiated coverage on Builders FirstSource in a research note on Thursday, October 10th. They issued a “buy” rating and a $225.00 price objective on the stock. Finally, Truist Financial upgraded Builders FirstSource from a “hold” rating to a “buy” rating and lifted their target price for the stock from $165.00 to $220.00 in a research note on Monday, September 16th. Four equities research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Builders FirstSource currently has an average rating of “Moderate Buy” and a consensus price target of $210.00.

Builders FirstSource Stock Down 0.3 %

Shares of BLDR stock opened at $160.03 on Wednesday. The company has a market capitalization of $18.42 billion, a price-to-earnings ratio of 15.63, a P/E/G ratio of 0.96 and a beta of 2.06. Builders FirstSource has a 12-month low of $130.75 and a 12-month high of $214.70. The firm has a fifty day moving average of $181.06 and a 200-day moving average of $169.14. The company has a quick ratio of 1.16, a current ratio of 1.77 and a debt-to-equity ratio of 0.83.

Builders FirstSource (NYSE:BLDR) last issued its quarterly earnings results on Tuesday, November 5th. The company reported $3.07 EPS for the quarter, missing the consensus estimate of $3.09 by ($0.02). The business had revenue of $4.23 billion for the quarter, compared to the consensus estimate of $4.44 billion. Builders FirstSource had a return on equity of 33.55% and a net margin of 7.40%. The company’s quarterly revenue was down 6.7% compared to the same quarter last year. During the same period last year, the firm earned $4.24 earnings per share. As a group, equities research analysts predict that Builders FirstSource will post 11.55 earnings per share for the current fiscal year.

Insider Transactions at Builders FirstSource

In other Builders FirstSource news, Director Cleveland A. Christophe sold 10,000 shares of Builders FirstSource stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $178.41, for a total transaction of $1,784,100.00. Following the transaction, the director now directly owns 33,083 shares of the company’s stock, valued at $5,902,338.03. The trade was a 23.21 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 1.80% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Raymond James Financial Services Advisors Inc. grew its stake in Builders FirstSource by 18.6% in the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 115,995 shares of the company’s stock valued at $16,055,000 after purchasing an additional 18,223 shares during the period. First Horizon Advisors Inc. increased its holdings in Builders FirstSource by 42.1% during the second quarter. First Horizon Advisors Inc. now owns 253 shares of the company’s stock worth $35,000 after buying an additional 75 shares during the last quarter. Fifth Third Bancorp raised its position in Builders FirstSource by 14.0% in the second quarter. Fifth Third Bancorp now owns 1,221 shares of the company’s stock worth $169,000 after acquiring an additional 150 shares during the period. GYL Financial Synergies LLC purchased a new position in Builders FirstSource in the second quarter valued at about $1,929,000. Finally, Van Lanschot Kempen Investment Management N.V. grew its position in shares of Builders FirstSource by 189.2% during the 2nd quarter. Van Lanschot Kempen Investment Management N.V. now owns 8,291 shares of the company’s stock valued at $1,148,000 after acquiring an additional 5,424 shares during the period. 95.53% of the stock is currently owned by hedge funds and other 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.