Builders FirstSource (NASDAQ:BLDR) Reaches New 12-Month High After Analyst Upgrade

Builders FirstSource, Inc. (NASDAQ:BLDR) reached a new 52-week high during mid-day trading on Monday after BidaskClub upgraded the stock from a buy rating to a strong-buy rating. The stock traded as high as $23.36 and last traded at $23.32, with a volume of 627571 shares traded. The stock had previously closed at $22.89.

Several other research firms have also issued reports on BLDR. ValuEngine lowered shares of Builders FirstSource from a “hold” rating to a “sell” rating in a research report on Wednesday, October 2nd. Zacks Investment Research upgraded shares of Builders FirstSource from a “hold” rating to a “buy” rating and set a $23.00 price objective on the stock in a report on Monday, October 7th. Stephens upgraded shares of Builders FirstSource from an “equal” rating to an “overweight” rating and upped their price objective for the company from $21.00 to $28.00 in a report on Wednesday, October 16th. Buckingham Research upped their price objective on shares of Builders FirstSource from $17.00 to $21.00 and gave the company a “neutral” rating in a report on Wednesday, August 7th. Finally, DA Davidson upped their price objective on shares of Builders FirstSource to $21.00 and gave the company a “neutral” rating in a report on Friday. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating, four have assigned a buy rating and one has given a strong buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $18.27.

In related news, SVP Donald F. Mcaleenan sold 125,408 shares of the company’s stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $18.88, for a total value of $2,367,703.04. Following the transaction, the senior vice president now directly owns 152,773 shares in the company, valued at $2,884,354.24. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO David E. Rush sold 2,351 shares of the company’s stock in a transaction dated Wednesday, August 7th. The shares were sold at an average price of $19.48, for a total transaction of $45,797.48. Following the completion of the transaction, the chief operating officer now owns 42,886 shares in the company, valued at $835,419.28. The disclosure for this sale can be found here. Over the last quarter, insiders sold 219,744 shares of company stock worth $4,258,449. Corporate insiders own 2.20% of the company’s stock.

Several hedge funds have recently added to or reduced their stakes in the stock. HM Payson & Co. acquired a new stake in Builders FirstSource during the second quarter worth about $34,000. Public Employees Retirement System of Ohio grew its stake in Builders FirstSource by 15.7% during the second quarter. Public Employees Retirement System of Ohio now owns 4,758 shares of the company’s stock worth $80,000 after buying an additional 645 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of Builders FirstSource by 16.1% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,173 shares of the company’s stock worth $148,000 after acquiring an additional 994 shares during the last quarter. New York State Teachers Retirement System bought a new position in shares of Builders FirstSource in the second quarter worth about $167,000. Finally, Quantamental Technologies LLC bought a new position in shares of Builders FirstSource in the second quarter worth about $252,000. Institutional investors and hedge funds own 87.35% of the company’s stock.

The stock has a market cap of $2.63 billion, a P/E ratio of 12.27 and a beta of 1.88. The company has a debt-to-equity ratio of 2.02, a current ratio of 1.69 and a quick ratio of 0.96. The business’s fifty day moving average price is $20.29 and its 200 day moving average price is $17.17.

Builders FirstSource (NASDAQ:BLDR) last posted its earnings results on Thursday, August 1st. The company reported $0.63 EPS for the quarter, topping analysts’ consensus estimates of $0.48 by $0.15. The firm had revenue of $1.90 billion during the quarter, compared to analysts’ expectations of $1.91 billion. Builders FirstSource had a net margin of 3.05% and a return on equity of 39.63%. The business’s revenue for the quarter was down 8.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.54 earnings per share. On average, analysts predict that Builders FirstSource, Inc. will post 1.85 earnings per share for the current fiscal year.

About Builders FirstSource (NASDAQ:BLDR)

Builders FirstSource, Inc manufactures and supplies building materials, manufactured components, and construction services to professional homebuilders, sub-contractors, remodelers, and consumers in the United States. The company operates through four segments: Northeast, Southeast, South, and West. 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, steel roof trusses, wall panels, stairs, and engineered wood products; and windows, and interior and exterior door units, as well as interior trims and custom products under the Synboard brand name.

Read More: What does the Dow Jones Industrial Average (DJIA) measure?

Receive News & Ratings for Builders FirstSource Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Builders FirstSource and related companies with MarketBeat.com's FREE daily email newsletter.