Builders FirstSource (NYSE:BLDR) Price Target Increased to $230.00 by Analysts at Loop Capital

Builders FirstSource (NYSE:BLDR) had its price target hoisted by Loop Capital from $190.00 to $230.00 in a research report released on Friday, Benzinga reports. Loop Capital currently has a buy rating on the stock.

A number of other analysts have also weighed in on the stock. Bank of America upped their price objective on shares of Builders FirstSource from $165.00 to $198.00 and gave the stock a neutral rating in a research note on Thursday, September 19th. Jefferies Financial Group reissued a buy rating and set a $185.00 target price (down previously from $205.00) on shares of Builders FirstSource in a report on Friday, August 9th. Baird R W raised shares of Builders FirstSource from a hold rating to a strong-buy rating in a report on Wednesday, August 7th. Robert W. Baird upgraded Builders FirstSource from a neutral rating to an outperform rating and increased their target price for the company from $185.00 to $190.00 in a research report on Wednesday, August 7th. Finally, Stifel Nicolaus decreased their target price on Builders FirstSource from $217.00 to $195.00 and set a buy rating on the stock in a research report on Thursday, August 8th. Four research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of Moderate Buy and an average price target of $190.00.

Builders FirstSource Trading Down 1.0 %

Shares of Builders FirstSource stock opened at $195.81 on Friday. The stock has a market capitalization of $23.90 billion, a PE ratio of 16.76, a P/E/G 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 company’s fifty day simple moving average is $168.61 and its 200-day simple moving average is $170.60. Builders FirstSource has a 1-year low of $105.24 and a 1-year high of $214.70.

Builders FirstSource (NYSE:BLDR) last announced its quarterly earnings results 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. Builders FirstSource had a net margin of 8.25% and a return on equity of 37.05%. The company had revenue of $4.46 billion for the quarter, compared to analysts’ expectations of $4.48 billion. During the same quarter in the previous year, the business posted $3.89 earnings per share. Builders FirstSource’s quarterly revenue was down 1.6% on a year-over-year basis. As a group, equities analysts anticipate that Builders FirstSource will post 11.65 earnings per share for the current year.

Builders FirstSource announced that its Board of Directors 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 purchase up to 5.3% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board of directors believes its shares are undervalued.

Insider Transactions at Builders FirstSource

In other news, Director Craig Arthur Steinke sold 30,000 shares of Builders FirstSource stock in a transaction on Thursday, August 8th. The shares were sold at an average price of $153.68, for a total value of $4,610,400.00. Following the transaction, 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 Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 1.80% of the company’s stock.

Hedge Funds Weigh In On Builders FirstSource

A number of large investors have recently modified their holdings of the business. Westside Investment Management Inc. purchased a new position in Builders FirstSource in the 1st quarter valued at approximately $31,000. ORG Partners LLC purchased a new stake in shares of Builders FirstSource in the 1st quarter worth about $33,000. American Capital Advisory LLC acquired a new stake in Builders FirstSource in the 1st quarter valued at about $34,000. Principal Securities Inc. acquired a new position in Builders FirstSource during the fourth quarter worth about $32,000. Finally, Innealta Capital LLC acquired a new stake in shares of Builders FirstSource in the second quarter valued at approximately $27,000. 95.53% of the stock is owned by hedge funds and other institutional investors.

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.