Builders FirstSource (NYSE:BLDR) Given New $200.00 Price Target at Benchmark

Builders FirstSource (NYSE:BLDR) had its target price cut by Benchmark from $220.00 to $200.00 in a research note issued to investors on Wednesday morning, Benzinga reports. They currently have a buy rating on the stock.

A number of other equities analysts have also recently issued reports on BLDR. Barclays dropped their price target on shares of Builders FirstSource from $188.00 to $182.00 and set an overweight rating on the stock in a research note 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 research report on Wednesday. Bank of America lowered Builders FirstSource from a buy rating to a neutral rating and decreased their target price for the stock from $183.00 to $180.00 in a research report on Friday, August 2nd. Jefferies Financial Group boosted their target price on Builders FirstSource from $226.00 to $237.00 and gave the stock a buy rating in a research report on Thursday, April 18th. Finally, Truist Financial decreased their target price on Builders FirstSource from $190.00 to $180.00 and set a hold rating for the company in a research report on Wednesday, May 8th. Six research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of Moderate Buy and a consensus target price of $180.47.

Builders FirstSource Stock Up 1.5 %

Shares of BLDR stock traded up $2.36 during mid-day trading on Wednesday, reaching $155.51. 1,031,898 shares of the company’s stock traded hands, compared to its average volume of 1,648,177. Builders FirstSource has a 12 month low of $105.24 and a 12 month high of $214.70. The company has a market cap of $18.98 billion, a P/E ratio of 13.31, a P/E/G ratio of 2.57 and a beta of 2.04. The company has a quick ratio of 1.45, a current ratio of 2.21 and a debt-to-equity ratio of 0.75. The company’s 50-day moving average price is $149.36 and its 200-day moving average price is $173.09.

Builders FirstSource (NYSE:BLDR) last announced its quarterly 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. The company had revenue of $4.46 billion for the quarter, compared to analysts’ expectations of $4.48 billion. Builders FirstSource had a net margin of 8.57% and a return on equity of 38.66%. Builders FirstSource’s revenue was down 1.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted $3.89 EPS. On average, equities analysts expect that Builders FirstSource will post 12.91 earnings per share for the current fiscal year.

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

Insiders Place Their Bets

In other Builders FirstSource news, insider Michael Hiller sold 4,875 shares of the 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 in the company, valued at $4,794,380.50. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, insider Paul M. Mccrobie sold 9,118 shares of the firm’s stock in a transaction on Friday, May 24th. The stock was sold at an average price of $170.11, for a total transaction of $1,551,062.98. Following the transaction, the insider now owns 22,667 shares in the company, valued at $3,855,883.37. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Michael Hiller sold 4,875 shares of the firm’s stock in a transaction 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 transaction, the insider now owns 30,106 shares in the company, valued at approximately $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

A number of institutional investors have recently added to or reduced their stakes in BLDR. First Horizon Advisors Inc. boosted its holdings in Builders FirstSource by 42.1% in the second quarter. First Horizon Advisors Inc. now owns 253 shares of the company’s stock worth $35,000 after acquiring an additional 75 shares in the last quarter. Team Hewins LLC boosted its holdings in Builders FirstSource by 6.5% in the first quarter. Team Hewins LLC now owns 1,313 shares of the company’s stock worth $274,000 after acquiring an additional 80 shares in the last quarter. Private Trust Co. NA boosted its holdings in Builders FirstSource by 30.7% in the fourth quarter. Private Trust Co. NA now owns 345 shares of the company’s stock worth $58,000 after acquiring an additional 81 shares in the last quarter. Csenge Advisory Group boosted its holdings in Builders FirstSource by 1.9% in the second quarter. Csenge Advisory Group now owns 4,252 shares of the company’s stock worth $589,000 after acquiring an additional 81 shares in the last quarter. Finally, Congress Wealth Management LLC DE boosted its holdings in Builders FirstSource by 1.4% in the fourth quarter. Congress Wealth Management LLC DE now owns 6,197 shares of the company’s stock worth $1,035,000 after acquiring an additional 85 shares in the last quarter. Institutional investors 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.