SunTrust Banks Boosts Builders FirstSource (NASDAQ:BLDR) Price Target to $24.00

Builders FirstSource (NASDAQ:BLDR) had its price target boosted by SunTrust Banks to $24.00 in a report issued on Monday, The Fly reports.

Several other brokerages have also issued reports on BLDR. BidaskClub upgraded Builders FirstSource from a buy rating to a strong-buy rating in a research report on Monday, October 21st. B. Riley boosted their target price on Builders FirstSource from $23.00 to $29.00 in a research report on Monday. ValuEngine upgraded Builders FirstSource from a sell rating to a hold rating in a research report on Friday, November 1st. DA Davidson boosted their target price on Builders FirstSource to $21.00 and gave the company a neutral rating in a research report on Friday, October 18th. Finally, Stephens upgraded Builders FirstSource from an equal rating to an overweight rating and boosted their target price for the company from $21.00 to $28.00 in a research report on Wednesday, October 16th. Seven equities research analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. The company presently has an average rating of Buy and a consensus target price of $20.90.

BLDR traded up $0.63 on Monday, hitting $24.19. The company had a trading volume of 1,612,900 shares, compared to its average volume of 1,055,345. The company has a market cap of $2.76 billion, a PE ratio of 12.73 and a beta of 1.88. Builders FirstSource has a 12-month low of $10.15 and a 12-month high of $24.78. The company has a quick ratio of 0.96, a current ratio of 1.66 and a debt-to-equity ratio of 1.73. The business’s fifty day simple moving average is $21.83 and its 200 day simple moving average is $18.15.

Builders FirstSource (NASDAQ:BLDR) last released its quarterly earnings results on Thursday, October 31st. The company reported $0.72 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.60 by $0.12. The company had revenue of $1.98 billion during the quarter, compared to analyst estimates of $1.87 billion. Builders FirstSource had a return on equity of 37.03% and a net margin of 3.17%. The firm’s revenue was down 6.5% on a year-over-year basis. During the same quarter last year, the business posted $0.67 earnings per share. On average, analysts anticipate that Builders FirstSource will post 1.99 earnings per share for the current fiscal year.

In other Builders FirstSource news, COO David E. Rush sold 12,000 shares of the business’s stock in a transaction that occurred on Tuesday, November 5th. The stock was sold at an average price of $24.53, for a total transaction of $294,360.00. Following the completion of the transaction, the chief operating officer now owns 54,886 shares in the company, valued at $1,346,353.58. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 2.20% of the stock is owned by insiders.

Several large investors have recently made changes to their positions in the business. Public Employees Retirement System of Ohio raised its stake in shares of 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 valued at $80,000 after acquiring an additional 645 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of Builders FirstSource by 16.1% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,173 shares of the company’s stock valued at $148,000 after acquiring an additional 994 shares in the last quarter. Tower Research Capital LLC TRC bought a new stake in shares of Builders FirstSource during the third quarter valued at approximately $30,000. Janus Henderson Group PLC raised its stake in shares of Builders FirstSource by 7.3% during the second quarter. Janus Henderson Group PLC now owns 22,313 shares of the company’s stock valued at $376,000 after acquiring an additional 1,522 shares in the last quarter. Finally, Eqis Capital Management Inc. raised its stake in shares of Builders FirstSource by 16.4% during the third quarter. Eqis Capital Management Inc. now owns 12,830 shares of the company’s stock valued at $264,000 after acquiring an additional 1,803 shares in the last quarter. Institutional investors and hedge funds own 87.43% of the company’s stock.

About Builders FirstSource

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.

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