Builders FirstSource (NYSE:BLDR) PT Lowered to $178.00

Builders FirstSource (NYSE:BLDR) had its price target reduced by Royal Bank of Canada from $193.00 to $178.00 in a research note published on Wednesday, Benzinga reports. Royal Bank of Canada currently has an outperform rating on the stock.

Other equities research analysts have also issued research reports about the company. Robert W. Baird raised Builders FirstSource from a neutral rating to an outperform rating and lifted their price objective for the stock from $185.00 to $190.00 in a report on Wednesday. Barclays reduced their target price on Builders FirstSource from $200.00 to $188.00 and set an overweight rating for the company in a report on Friday, July 12th. Bank of America lowered Builders FirstSource from a buy rating to a neutral rating and reduced their target price for the company from $183.00 to $180.00 in a report on Friday, August 2nd. Zelman & Associates reaffirmed a hold rating on shares of Builders FirstSource in a report on Monday, June 17th. Finally, Oppenheimer reaffirmed an outperform rating and set a $230.00 target price (down previously from $242.00) on shares of Builders FirstSource in a report on Monday, July 29th. Six investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of Moderate Buy and an average target price of $180.47.

Builders FirstSource Stock Performance

BLDR traded up $2.36 during trading hours on Wednesday, hitting $155.51. The stock had a trading volume of 1,031,898 shares, compared to its average volume of 1,648,177. The company’s fifty day simple moving average is $149.36 and its 200 day simple moving average is $173.09. Builders FirstSource has a 1 year low of $105.24 and a 1 year high of $214.70. The stock has a market cap of $18.98 billion, a PE ratio of 13.31, a price-to-earnings-growth ratio of 2.57 and a beta of 2.04. The company has a quick ratio of 1.45, a current ratio of 2.21 and a debt-to-equity ratio of 0.75.

Builders FirstSource (NYSE:BLDR) last announced its quarterly earnings data on Tuesday, August 6th. The company reported $3.50 earnings per share for the quarter, topping the consensus estimate of $3.02 by $0.48. Builders FirstSource had a return on equity of 38.66% and a net margin of 8.57%. The company had revenue of $4.46 billion during the quarter, compared to analyst estimates of $4.48 billion. During the same quarter last year, the firm posted $3.89 EPS. The firm’s revenue for the quarter was down 1.6% on a year-over-year basis. Equities analysts anticipate that Builders FirstSource will post 12.91 earnings per share for the current year.

Builders FirstSource announced that its Board of Directors has initiated a share buyback plan on Tuesday, August 6th that allows the company to buyback $1.00 billion in shares. This buyback authorization allows the company to reacquire up to 5.3% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s management believes its stock is undervalued.

Insider Activity

In related news, insider Michael Hiller sold 4,875 shares of the business’s stock in a transaction that occurred on Thursday, May 30th. The stock was sold at an average price of $159.25, for a total value of $776,343.75. Following the completion of the sale, the insider now owns 30,106 shares in the company, valued at approximately $4,794,380.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In related news, insider Michael Hiller sold 4,875 shares of the business’s stock in a transaction that occurred on Thursday, May 30th. The stock was sold at an average price of $159.25, for a total value of $776,343.75. Following the completion of the sale, the insider now owns 30,106 shares in the company, valued at approximately $4,794,380.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Paul M. Mccrobie sold 9,118 shares of the business’s stock in a transaction that occurred on Friday, May 24th. The stock was sold at an average price of $170.11, for a total value of $1,551,062.98. Following the completion of the sale, the insider now owns 22,667 shares of the company’s stock, valued at approximately $3,855,883.37. The disclosure for this sale can be found here. Corporate insiders own 1.80% of the company’s stock.

Institutional Trading of Builders FirstSource

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Allianz Asset Management GmbH lifted its position in 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 purchasing an additional 54,557 shares during the last quarter. DekaBank Deutsche Girozentrale lifted its position in Builders FirstSource by 18.5% in the fourth quarter. DekaBank Deutsche Girozentrale now owns 58,353 shares of the company’s stock valued at $9,515,000 after purchasing an additional 9,122 shares during the last quarter. New York Life Investment Management LLC lifted its position in Builders FirstSource by 437.8% in the fourth quarter. New York Life Investment Management LLC now owns 17,580 shares of the company’s stock valued at $2,935,000 after purchasing an additional 14,311 shares during the last quarter. Boulder Hill Capital Management LP bought a new stake in Builders FirstSource in the fourth quarter valued at approximately $851,000. Finally, Allspring Global Investments Holdings LLC lifted its position in Builders FirstSource by 53.2% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 94,505 shares of the company’s stock valued at $15,777,000 after purchasing an additional 32,819 shares during the last quarter. Institutional investors 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.