Bank of America Lowers Builders FirstSource (NYSE:BLDR) to Neutral

Bank of America downgraded shares of Builders FirstSource (NYSE:BLDR) from a buy rating to a neutral rating in a research note issued to investors on Friday morning, MarketBeat reports. They currently have $180.00 price objective on the stock, down from their previous price objective of $183.00.

BLDR has been the topic of a number of other reports. Wedbush decreased their price target on Builders FirstSource from $215.00 to $175.00 and set an outperform rating on the stock in a research note on Tuesday, June 25th. Barclays lowered their price target on shares of Builders FirstSource from $200.00 to $188.00 and set an overweight rating on the stock in a research note on Friday, July 12th. Jefferies Financial Group raised their price objective on shares of Builders FirstSource from $226.00 to $237.00 and gave the company a buy rating in a research note on Thursday, April 18th. Zelman & Associates restated a hold rating on shares of Builders FirstSource in a research report on Monday, June 17th. Finally, StockNews.com downgraded shares of Builders FirstSource from a buy rating to a hold rating in a research report on Monday, July 22nd. Seven equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of Moderate Buy and a consensus price target of $188.57.

Builders FirstSource Trading Down 1.5 %

NYSE:BLDR opened at $149.85 on Friday. The company has a market capitalization of $18.29 billion, a PE ratio of 12.83, a P/E/G ratio of 2.57 and a beta of 2.04. Builders FirstSource has a 52-week low of $105.24 and a 52-week high of $214.70. The stock’s 50 day moving average price is $150.23 and its 200 day moving average price is $173.73. The company has a quick ratio of 1.45, a current ratio of 2.21 and a debt-to-equity ratio of 0.75.

Builders FirstSource (NYSE:BLDR) last announced its earnings results on Tuesday, May 7th. The company reported $2.65 EPS for the quarter, beating analysts’ consensus estimates of $2.42 by $0.23. The business had revenue of $3.89 billion for the quarter, compared to analysts’ expectations of $3.83 billion. Builders FirstSource had a net margin of 8.57% and a return on equity of 38.66%. The company’s quarterly revenue was up .2% on a year-over-year basis. During the same period in the previous year, the company posted $2.96 EPS. On average, research analysts anticipate that Builders FirstSource will post 12.91 EPS for the current year.

Insider Activity at Builders FirstSource

In other Builders FirstSource news, insider Michael Hiller sold 4,875 shares of Builders FirstSource stock in a transaction that occurred on Thursday, May 30th. The shares were sold at an average price of $159.25, for a total value of $776,343.75. Following the completion of the sale, the insider now directly owns 30,106 shares of the company’s stock, valued at approximately $4,794,380.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Builders FirstSource news, insider Paul M. Mccrobie sold 9,118 shares of Builders FirstSource stock in a transaction on 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 transaction, the insider now owns 22,667 shares in the company, valued at approximately $3,855,883.37. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Michael Hiller sold 4,875 shares of the company’s 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. Insiders own 1.80% of the company’s stock.

Institutional Investors Weigh In On Builders FirstSource

Institutional investors have recently added to or reduced their stakes in the company. Allianz Asset Management GmbH raised its position in shares of Builders FirstSource by 73.9% in the 4th quarter. Allianz Asset Management GmbH now owns 128,348 shares of the company’s stock valued at $21,426,000 after purchasing an additional 54,557 shares in the last quarter. DekaBank Deutsche Girozentrale grew its holdings in Builders FirstSource by 18.5% in the 4th quarter. DekaBank Deutsche Girozentrale now owns 58,353 shares of the company’s stock worth $9,515,000 after buying an additional 9,122 shares in the last quarter. New York Life Investment Management LLC increased its holdings in shares of Builders FirstSource by 437.8% during the fourth quarter. New York Life Investment Management LLC now owns 17,580 shares of the company’s stock valued at $2,935,000 after purchasing an additional 14,311 shares during the period. Boulder Hill Capital Management LP bought a new stake in shares of Builders FirstSource during the 4th quarter worth about $851,000. Finally, Allspring Global Investments Holdings LLC boosted its stake in Builders FirstSource by 53.2% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 94,505 shares of the company’s stock valued at $15,777,000 after purchasing an additional 32,819 shares in the last quarter. Hedge funds and other institutional investors own 95.53% of the company’s stock.

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.