B. Riley Trims Builders FirstSource (NYSE:BLDR) Target Price to $187.00

Builders FirstSource (NYSE:BLDR) had its target price cut by B. Riley from $197.00 to $187.00 in a research report report published on Wednesday morning, Benzinga reports. They currently have a buy rating on the stock. B. Riley also issued estimates for Builders FirstSource’s Q3 2024 earnings at $3.22 EPS, Q4 2024 earnings at $2.36 EPS, FY2024 earnings at $11.75 EPS, FY2025 earnings at $11.95 EPS and FY2026 earnings at $17.93 EPS.

Several other research firms have also weighed in on BLDR. Jefferies Financial Group boosted their price target on Builders FirstSource from $226.00 to $237.00 and gave the stock a buy rating in a research report on Thursday, April 18th. Wedbush reaffirmed an outperform rating and set a $175.00 price target on shares of Builders FirstSource in a research report on Tuesday. Barclays decreased their target price on Builders FirstSource from $188.00 to $182.00 and set an overweight rating on the stock in a report on Wednesday. Robert W. Baird raised Builders FirstSource from a neutral rating to an outperform rating and boosted their target price for the stock from $185.00 to $190.00 in a report on Wednesday. Finally, StockNews.com lowered Builders FirstSource from a buy rating to a hold rating in a report on Monday, July 22nd. Six research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Builders FirstSource presently has an average rating of Moderate Buy and an average target price of $180.47.

Builders FirstSource Stock Up 1.5 %

Shares of NYSE:BLDR traded up $2.36 during trading on Wednesday, hitting $155.51. 1,031,898 shares of the company were exchanged, compared to its average volume of 1,648,177. The stock has a market cap of $18.98 billion, a price-to-earnings ratio of 13.31, a P/E/G ratio of 2.57 and a beta of 2.04. Builders FirstSource has a fifty-two week low of $105.24 and a fifty-two week high of $214.70. The firm has a fifty day moving average price of $149.36 and a two-hundred day moving average price of $173.09. The company has a current ratio of 2.21, a quick ratio of 1.45 and a debt-to-equity ratio of 0.75.

Builders FirstSource (NYSE:BLDR) last posted 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. The firm had revenue of $4.46 billion for the quarter, compared to analyst estimates of $4.48 billion. Builders FirstSource had a return on equity of 38.66% and a net margin of 8.57%. The business’s quarterly revenue was down 1.6% on a year-over-year basis. During the same quarter in the previous year, the firm earned $3.89 EPS. As a group, research analysts anticipate that Builders FirstSource will post 12.91 earnings per share for the current fiscal year.

Builders FirstSource announced that its board has authorized a share repurchase plan on Tuesday, August 6th that authorizes the company to buyback $1.00 billion in shares. This buyback authorization authorizes the company to repurchase up to 5.3% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s board believes its stock is undervalued.

Insider Activity

In other Builders FirstSource news, insider Michael Hiller sold 4,875 shares of the company’s stock in a transaction dated Thursday, May 30th. The stock was sold at an average price of $159.25, for a total value of $776,343.75. Following the completion of the transaction, the insider now owns 30,106 shares of the company’s stock, valued at approximately $4,794,380.50. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Builders FirstSource news, insider Paul M. Mccrobie sold 9,118 shares of the company’s stock in a transaction dated Friday, May 24th. The stock was sold at an average price of $170.11, for a total value of $1,551,062.98. Following the completion of the transaction, the insider now owns 22,667 shares of the company’s stock, valued at approximately $3,855,883.37. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Michael Hiller sold 4,875 shares of the company’s stock in a transaction dated Thursday, May 30th. The stock was sold at an average price of $159.25, for a total value of $776,343.75. Following the completion of the transaction, the insider now directly owns 30,106 shares of the company’s stock, valued at approximately $4,794,380.50. The disclosure for this sale can be found here. Corporate insiders own 1.80% of the company’s stock.

Institutional Investors Weigh In On Builders FirstSource

Several institutional investors and hedge funds have recently made changes to their positions in the stock. First Horizon Advisors Inc. increased its stake in shares of Builders FirstSource by 42.1% in the second quarter. First Horizon Advisors Inc. now owns 253 shares of the company’s stock valued at $35,000 after buying an additional 75 shares during the period. Team Hewins LLC increased its stake in shares of Builders FirstSource by 6.5% in the first quarter. Team Hewins LLC now owns 1,313 shares of the company’s stock valued at $274,000 after buying an additional 80 shares during the period. Private Trust Co. NA grew its stake in Builders FirstSource by 30.7% during the fourth quarter. Private Trust Co. NA now owns 345 shares of the company’s stock worth $58,000 after purchasing an additional 81 shares during the period. Csenge Advisory Group grew its stake in Builders FirstSource by 1.9% during the second quarter. Csenge Advisory Group now owns 4,252 shares of the company’s stock worth $589,000 after purchasing an additional 81 shares during the period. Finally, Congress Wealth Management LLC DE grew its stake in Builders FirstSource by 1.4% during the fourth quarter. Congress Wealth Management LLC DE now owns 6,197 shares of the company’s stock worth $1,035,000 after purchasing an additional 85 shares during the period. Institutional investors and hedge funds 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.