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

Builders FirstSource (NYSE:BLDR) had its price target boosted by Royal Bank of Canada from $178.00 to $187.00 in a research note released on Wednesday,Benzinga reports. Royal Bank of Canada currently has an outperform rating on the stock.

A number of other research firms have also recently commented on BLDR. Wedbush reissued an “outperform” rating and set a $230.00 price target on shares of Builders FirstSource in a report on Wednesday. StockNews.com upgraded Builders FirstSource from a “hold” rating to a “buy” rating in a research report on Monday, September 23rd. Loop Capital raised their price target on shares of Builders FirstSource from $190.00 to $230.00 and gave the stock a “buy” rating in a report on Friday, September 20th. Jefferies Financial Group raised their price target on shares of Builders FirstSource from $185.00 to $223.00 and gave the stock a “buy” rating in a report on Wednesday, October 9th. Finally, Truist Financial upgraded shares of Builders FirstSource from a “hold” rating to a “buy” rating and lifted their price objective for the company from $165.00 to $220.00 in a report on Monday, September 16th. Five research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $206.47.

Builders FirstSource Stock Down 0.5 %

Shares of Builders FirstSource stock opened at $178.35 on Wednesday. The business’s 50 day simple moving average is $184.79 and its 200 day simple moving average is $168.38. Builders FirstSource has a 52-week low of $120.80 and a 52-week high of $214.70. The firm has a market cap 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 debt-to-equity ratio of 0.83, a quick ratio of 1.14 and a current ratio of 1.77.

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

Builders FirstSource announced that its board has authorized a stock repurchase plan on Tuesday, August 6th that permits the company to repurchase $1.00 billion in shares. This repurchase authorization permits 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 board of directors believes its stock is undervalued.

Insider Activity at Builders FirstSource

In other news, Director Cleveland A. Christophe sold 10,000 shares of the business’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 sale, the director now owns 33,083 shares in the company, valued at approximately $5,902,338.03. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.80% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of BLDR. Armstrong Advisory Group Inc. acquired a new position in Builders FirstSource in the 3rd quarter valued at $30,000. ORG Partners LLC purchased a new position in Builders FirstSource during the 1st quarter valued at about $33,000. Innealta Capital LLC purchased a new position in Builders FirstSource during the 2nd quarter valued at about $27,000. Reston Wealth Management LLC purchased a new position in Builders FirstSource during the 3rd quarter valued at about $39,000. Finally, First Horizon Advisors Inc. boosted its holdings in Builders FirstSource by 42.1% during the 2nd quarter. First Horizon Advisors Inc. now owns 253 shares of the company’s stock valued at $35,000 after acquiring an additional 75 shares during the period. 95.53% of the stock is owned by institutional investors and hedge funds.

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.