Builders FirstSource (NYSE:BLDR) Raised to “Buy” at StockNews.com

StockNews.com upgraded shares of Builders FirstSource (NYSE:BLDR) from a hold rating to a buy rating in a research report released on Tuesday.

A number of other equities research analysts have also recently weighed in on BLDR. Royal Bank of Canada dropped their price target on shares of Builders FirstSource from $193.00 to $178.00 and set an outperform rating for the company in a research report on Wednesday, August 7th. Oppenheimer boosted their price objective on Builders FirstSource from $190.00 to $205.00 and gave the company an outperform rating in a report on Tuesday, September 3rd. Benchmark dropped their target price on Builders FirstSource from $220.00 to $200.00 and set a buy rating for the company in a research report on Wednesday, August 7th. B. Riley reduced their price target on shares of Builders FirstSource from $197.00 to $187.00 and set a buy rating on the stock in a research report on Wednesday, August 7th. Finally, Stifel Nicolaus reduced their target price on shares of Builders FirstSource from $217.00 to $195.00 and set a buy rating on the stock in a report on Thursday, August 8th. Four research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of Moderate Buy and an average price target of $187.14.

Builders FirstSource Stock Up 3.8 %

Shares of NYSE BLDR opened at $201.83 on Tuesday. The company has a market capitalization of $24.63 billion, a P/E ratio of 17.28, a P/E/G ratio of 10.06 and a beta of 2.06. 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 company has a 50 day simple moving average of $166.86 and a 200-day simple moving average of $171.08. Builders FirstSource has a 1 year low of $105.24 and a 1 year high of $214.70.

Builders FirstSource (NYSE:BLDR) last posted its earnings results on Tuesday, August 6th. The company reported $3.50 EPS for the quarter, beating analysts’ consensus estimates of $3.02 by $0.48. The company 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 quarter in the previous year, the business earned $3.89 earnings per share. On average, equities research analysts predict that Builders FirstSource will post 11.65 earnings per share for the current year.

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

Insider Activity

In other Builders FirstSource news, Director Craig Arthur Steinke sold 30,000 shares of the stock in a transaction that occurred on Thursday, August 8th. The shares were sold at an average price of $153.68, for a total value of $4,610,400.00. Following the transaction, the director now directly owns 95,333 shares in the company, valued at $14,650,775.44. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 1.80% of the company’s stock.

Hedge Funds Weigh In On Builders FirstSource

Several hedge funds have recently made changes to their positions in BLDR. Allianz Asset Management GmbH raised its holdings in shares of Builders FirstSource by 73.9% in the fourth quarter. Allianz Asset Management GmbH now owns 128,348 shares of the company’s stock valued at $21,426,000 after buying an additional 54,557 shares during the last quarter. Boulder Hill Capital Management LP purchased a new stake in shares of Builders FirstSource in the fourth quarter valued at about $851,000. Westfield Capital Management Co. LP raised its holdings in Builders FirstSource by 11.2% during the fourth quarter. Westfield Capital Management Co. LP now owns 1,416,611 shares of the company’s stock worth $236,489,000 after purchasing an additional 143,041 shares in the last quarter. New Mexico Educational Retirement Board lifted its position in Builders FirstSource by 512.3% in the first quarter. New Mexico Educational Retirement Board now owns 39,800 shares of the company’s stock valued at $8,300,000 after purchasing an additional 33,300 shares during the period. Finally, Pitcairn Co. increased its position in Builders FirstSource by 37.2% during the 4th quarter. Pitcairn Co. now owns 21,051 shares of the company’s stock worth $3,514,000 after purchasing an additional 5,704 shares during the period. Hedge funds and other institutional investors own 95.53% of the company’s stock.

Builders FirstSource Company Profile

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.