Builders FirstSource (NYSE:BLDR) Price Target Raised to $187.00

Builders FirstSource (NYSE:BLDR) had its price objective lifted by Royal Bank of Canada from $178.00 to $187.00 in a research report sent to investors on Wednesday morning,Benzinga reports. Royal Bank of Canada currently has an outperform rating on the stock.

A number of other research analysts have also issued reports on the company. Stifel Nicolaus dropped their target price on Builders FirstSource from $217.00 to $195.00 and set a “buy” rating on the stock in a report on Thursday, August 8th. Benchmark dropped their price objective on Builders FirstSource from $220.00 to $200.00 and set a “buy” rating on the stock in a report on Wednesday, August 7th. Bank of America upped their price objective on Builders FirstSource from $165.00 to $198.00 and gave the stock a “neutral” rating in a report on Thursday, September 19th. B. Riley lowered their target price on Builders FirstSource from $197.00 to $187.00 and set a “buy” rating on the stock in a report on Wednesday, August 7th. Finally, Robert W. Baird upped their target price on Builders FirstSource from $190.00 to $222.00 and gave the company an “outperform” rating in a report on Wednesday, October 16th. Five investment analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $206.47.

Builders FirstSource Trading Down 0.5 %

NYSE:BLDR opened at $178.35 on Wednesday. The stock’s 50 day moving average price is $184.79 and its 200 day moving average price is $168.38. The company has a market capitalization of $20.52 billion, a PE ratio of 17.42, a P/E/G ratio of 10.48 and a beta of 2.08. The company has a quick ratio of 1.14, a current ratio of 1.77 and a debt-to-equity ratio of 0.83. Builders FirstSource has a 52-week low of $120.80 and a 52-week high of $214.70.

Builders FirstSource (NYSE:BLDR) last released its quarterly earnings results on Tuesday, November 5th. The company reported $3.07 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.09 by ($0.02). The firm had revenue of $4.23 billion for the quarter, compared to analysts’ expectations of $4.44 billion. Builders FirstSource had a return on equity of 33.55% and a net margin of 7.40%. The company’s quarterly revenue was down 6.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $4.24 EPS. On average, research analysts anticipate that Builders FirstSource will post 11.64 EPS for the current year.

Builders FirstSource declared that its board has authorized a stock buyback program on Tuesday, August 6th that allows the company to buyback $1.00 billion in outstanding shares. This buyback authorization allows the company to purchase up to 5.3% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s management believes its stock is undervalued.

Insider Buying and Selling

In other Builders FirstSource news, Director Cleveland A. Christophe sold 10,000 shares of the company’s stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $178.41, for a total transaction of $1,784,100.00. Following the completion of the sale, the director now directly owns 33,083 shares in the company, valued at $5,902,338.03. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 1.80% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Builders FirstSource

Several institutional investors and hedge funds have recently added to or reduced their stakes in BLDR. Cyndeo Wealth Partners LLC grew its stake in shares of Builders FirstSource by 3.7% in the third quarter. Cyndeo Wealth Partners LLC now owns 1,571 shares of the company’s stock valued at $305,000 after buying an additional 56 shares in the last quarter. World Equity Group Inc. grew its stake in shares of Builders FirstSource by 4.1% in the third quarter. World Equity Group Inc. now owns 1,632 shares of the company’s stock valued at $316,000 after buying an additional 64 shares in the last quarter. Vanguard Personalized Indexing Management LLC grew its stake in shares of Builders FirstSource by 0.7% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 10,240 shares of the company’s stock valued at $1,417,000 after buying an additional 74 shares in the last quarter. First Horizon Advisors Inc. grew 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 in the last quarter. Finally, Csenge Advisory Group grew its stake in shares of Builders FirstSource by 1.9% in the second quarter. Csenge Advisory Group now owns 4,252 shares of the company’s stock valued at $589,000 after buying an additional 81 shares in the last quarter. 95.53% of the stock is currently owned by institutional investors and hedge funds.

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.