Builders FirstSource (NYSE:BLDR) Upgraded at Baird R W

Baird R W upgraded shares of Builders FirstSource (NYSE:BLDR) from a hold rating to a strong-buy rating in a research note released on Wednesday morning, Zacks.com reports.

Several other research firms have also recently issued reports on BLDR. Zelman & Associates reiterated a hold rating on shares of Builders FirstSource in a report on Monday, June 17th. Royal Bank of Canada lowered their price target on Builders FirstSource from $193.00 to $178.00 and set an outperform rating on the stock in a research report on Wednesday. B. Riley cut their price objective on Builders FirstSource from $197.00 to $187.00 and set a buy rating for the company in a report on Wednesday. Jefferies Financial Group lifted their target price on Builders FirstSource from $226.00 to $237.00 and gave the stock a buy rating in a report on Thursday, April 18th. Finally, Benchmark cut their price target on shares of Builders FirstSource from $220.00 to $200.00 and set a buy rating for the company in a report on Wednesday. Six equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Builders FirstSource presently has an average rating of Moderate Buy and a consensus target price of $180.47.

Builders FirstSource Stock Performance

Shares of NYSE:BLDR traded up $2.36 during trading on Wednesday, hitting $155.51. 1,031,898 shares of the company traded hands, compared to its average volume of 1,648,177. The stock has a market capitalization of $18.98 billion, a price-to-earnings ratio of 13.31, a PEG ratio of 2.57 and a beta of 2.04. Builders FirstSource has a one year low of $105.24 and a one year high of $214.70. 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 business’s fifty day moving average is $149.36 and its 200-day moving average is $173.09.

Builders FirstSource (NYSE:BLDR) last released its quarterly earnings results on Tuesday, August 6th. The company reported $3.50 EPS for the quarter, topping the consensus estimate of $3.02 by $0.48. The business had revenue of $4.46 billion during the quarter, compared to analyst estimates of $4.48 billion. Builders FirstSource had a net margin of 8.57% and a return on equity of 38.66%. The company’s quarterly revenue was down 1.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $3.89 earnings per share. As a group, equities analysts predict that Builders FirstSource will post 12.91 earnings per share for the current fiscal year.

Builders FirstSource announced that its Board of Directors has authorized a share repurchase program on Tuesday, August 6th that authorizes the company to repurchase $1.00 billion in shares. This repurchase authorization authorizes the company to buy up to 5.3% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company’s board of directors believes its shares are undervalued.

Insider Transactions at Builders FirstSource

In other Builders FirstSource news, insider Paul M. Mccrobie sold 9,118 shares of the stock in a transaction that occurred 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 filing with the SEC, which is available at the SEC website. 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 stock was sold at an average price of $159.25, for a total transaction of $776,343.75. Following the sale, the insider now directly owns 30,106 shares of the company’s stock, valued at $4,794,380.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, 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 directly owns 22,667 shares of the company’s stock, valued at $3,855,883.37. The disclosure for this sale can be found here. 1.80% of the stock is currently owned by corporate insiders.

Institutional Trading of Builders FirstSource

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Mutual of America Capital Management LLC boosted its position in shares of Builders FirstSource by 28.4% during the second quarter. Mutual of America Capital Management LLC now owns 43,230 shares of the company’s stock worth $5,983,000 after purchasing an additional 9,563 shares in the last quarter. Axxcess Wealth Management LLC increased its holdings in Builders FirstSource by 2,013.0% during the 2nd quarter. Axxcess Wealth Management LLC now owns 42,661 shares of the company’s stock worth $5,905,000 after purchasing an additional 40,642 shares in the last quarter. Virtu Financial LLC grew its stake in shares of Builders FirstSource by 399.6% during the 2nd quarter. Virtu Financial LLC now owns 12,635 shares of the company’s stock worth $1,749,000 after acquiring an additional 10,106 shares in the last quarter. Massachusetts Financial Services Co. MA increased its stake in Builders FirstSource by 339.8% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 1,180,358 shares of the company’s stock valued at $163,373,000 after buying an additional 911,990 shares during the last quarter. Finally, Thompson Siegel & Walmsley LLC grew its holdings in shares of Builders FirstSource by 22.9% in the 2nd quarter. Thompson Siegel & Walmsley LLC now owns 154,561 shares of the company’s stock valued at $21,393,000 after acquiring an additional 28,763 shares in the last quarter. 95.53% of the stock is owned by 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.