Builders FirstSource (NYSE:BLDR) Raised to Buy at Truist Financial

Truist Financial upgraded shares of Builders FirstSource (NYSE:BLDR) from a hold rating to a buy rating in a research note published on Monday morning, MarketBeat.com reports. They currently have $220.00 target price on the stock, up from their previous target price of $165.00.

Other research analysts also recently issued reports about the stock. Wedbush restated an outperform rating and set a $175.00 price objective on shares of Builders FirstSource in a research report on Tuesday, August 6th. Robert W. Baird upgraded Builders FirstSource from a neutral rating to an outperform rating and upped their price objective for the stock from $185.00 to $190.00 in a research report on Wednesday, August 7th. B. Riley decreased their target price on Builders FirstSource from $197.00 to $187.00 and set a buy rating on the stock in a research report on Wednesday, August 7th. Barclays dropped their target price on shares of Builders FirstSource from $188.00 to $182.00 and set an overweight rating for the company in a report on Wednesday, August 7th. Finally, Benchmark reduced their price target on shares of Builders FirstSource from $220.00 to $200.00 and set a buy rating on the stock in a research note on Wednesday, August 7th. Four investment analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of Moderate Buy and an average price target of $187.14.

Builders FirstSource Trading Up 3.8 %

Shares of NYSE:BLDR opened at $201.83 on Monday. 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 business’s 50 day simple moving average is $166.86 and its 200 day simple moving average is $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 quarterly 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 business had revenue of $4.46 billion during 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%. Builders FirstSource’s revenue for the quarter was down 1.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $3.89 earnings per share. On average, research analysts anticipate that Builders FirstSource will post 11.65 EPS for the current fiscal year.

Builders FirstSource announced that its board has authorized a share buyback plan on Tuesday, August 6th that authorizes the company to repurchase $1.00 billion in shares. This repurchase authorization authorizes the company to repurchase up to 5.3% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s leadership believes its stock is undervalued.

Insider Buying and Selling

In related news, Director Craig Arthur Steinke sold 30,000 shares of Builders FirstSource stock in a transaction that occurred on Thursday, August 8th. The stock was 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 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 through this hyperlink. 1.80% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Builders FirstSource

Hedge funds and other institutional investors have recently bought and sold shares of the company. Innealta Capital LLC bought a new position in shares of Builders FirstSource in the 2nd quarter worth about $27,000. Westside Investment Management Inc. acquired a new stake in shares of Builders FirstSource during the 1st quarter worth approximately $31,000. Principal Securities Inc. bought a new stake in shares of Builders FirstSource in the 4th quarter valued at $32,000. ORG Partners LLC acquired a new position in shares of Builders FirstSource during the 1st quarter valued at $33,000. Finally, American Capital Advisory LLC bought a new position in Builders FirstSource during the first quarter worth $34,000. Institutional investors and hedge funds 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.