Bank of America Boosts Builders FirstSource (NYSE:BLDR) Price Target to $198.00

Builders FirstSource (NYSE:BLDR) had its price objective increased by Bank of America from $165.00 to $198.00 in a research report report published on Thursday morning, Benzinga reports. Bank of America currently has a neutral rating on the stock.

Other equities analysts also recently issued reports about the company. Jefferies Financial Group restated a buy rating and issued a $185.00 price target (down from $205.00) on shares of Builders FirstSource in a research note on Friday, August 9th. B. Riley dropped their price target on Builders FirstSource from $197.00 to $187.00 and set a buy rating on the stock in a research note on Wednesday, August 7th. Benchmark dropped their price target on Builders FirstSource from $220.00 to $200.00 and set a buy rating on the stock in a research note on Wednesday, August 7th. Barclays lowered their target price on Builders FirstSource from $188.00 to $182.00 and set an overweight rating on the stock in a research report on Wednesday, August 7th. Finally, StockNews.com upgraded Builders FirstSource from a hold rating to a buy rating in a research report on Tuesday, September 17th. Four investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of Moderate Buy and a consensus price target of $190.00.

Builders FirstSource Price Performance

NYSE BLDR opened at $197.74 on Thursday. The stock has a market capitalization of $24.14 billion, a price-to-earnings ratio of 16.93, a PEG ratio of 10.06 and a beta of 2.06. Builders FirstSource has a 1-year low of $105.24 and a 1-year high of $214.70. 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 business’s fifty day moving average price is $167.76 and its 200-day moving average price is $170.87.

Builders FirstSource (NYSE:BLDR) last released 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 firm had revenue of $4.46 billion for the quarter, compared to the consensus estimate of $4.48 billion. Builders FirstSource had a return on equity of 37.05% and a net margin of 8.25%. The company’s revenue for the quarter was down 1.6% on a year-over-year basis. During the same period last year, the business posted $3.89 EPS. On average, equities analysts predict that Builders FirstSource will post 11.65 earnings per share for the current year.

Builders FirstSource declared that its board has approved a share repurchase plan on Tuesday, August 6th that allows the company to buyback $1.00 billion in outstanding shares. This buyback authorization allows the company to reacquire up to 5.3% of its shares through open market purchases. Shares buyback plans are typically an indication that the company’s board believes its stock is undervalued.

Insider Activity

In other news, Director Craig Arthur Steinke sold 30,000 shares of the company’s stock in a transaction that occurred on Thursday, August 8th. The stock was sold at an average price of $153.68, for a total transaction of $4,610,400.00. Following the transaction, the director now owns 95,333 shares of the company’s stock, valued at $14,650,775.44. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 1.80% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the business. Sanctuary Advisors LLC bought a new position in shares of Builders FirstSource during the second quarter valued at approximately $4,859,000. Clearbridge Investments LLC purchased a new stake in shares of Builders FirstSource in the second quarter valued at approximately $49,000,000. New Century Financial Group LLC purchased a new stake in shares of Builders FirstSource in the second quarter valued at approximately $241,000. 3Chopt Investment Partners LLC purchased a new stake in shares of Builders FirstSource in the second quarter valued at approximately $441,000. Finally, B. Riley Wealth Advisors Inc. purchased a new stake in shares of Builders FirstSource in the second quarter valued at approximately $383,000. 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.