Oppenheimer Increases Builders FirstSource (NYSE:BLDR) Price Target to $205.00

Builders FirstSource (NYSE:BLDR) had its price objective upped by stock analysts at Oppenheimer from $190.00 to $205.00 in a research report issued on Tuesday, Benzinga reports. The brokerage presently has an “outperform” rating on the stock. Oppenheimer’s price target points to a potential upside of 18.88% from the company’s current price.

A number of other research analysts have also commented on the stock. Robert W. Baird raised shares of Builders FirstSource from a “neutral” rating to an “outperform” rating and upped their price objective for the company from $185.00 to $190.00 in a research report on Wednesday, August 7th. Truist Financial dropped their price target on shares of Builders FirstSource from $190.00 to $180.00 and set a “hold” rating for the company in a research report on Wednesday, May 8th. Baird R W upgraded Builders FirstSource from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, August 7th. Royal Bank of Canada dropped their target price on shares of Builders FirstSource from $193.00 to $178.00 and set an “outperform” rating for the company in a research report on Wednesday, August 7th. Finally, B. Riley decreased their price objective on shares of Builders FirstSource from $197.00 to $187.00 and set a “buy” rating on the stock in a research note on Wednesday, August 7th. Six analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $181.57.

Builders FirstSource Stock Down 0.9 %

Shares of NYSE:BLDR traded down $1.56 on Tuesday, reaching $172.44. The company had a trading volume of 63,312 shares, compared to its average volume of 1,610,406. The stock has a market capitalization of $21.05 billion, a P/E ratio of 14.65, a P/E/G ratio of 10.07 and a beta of 2.04. The stock has a 50-day moving average price of $155.95 and a 200 day moving average price of $171.84. Builders FirstSource has a twelve month low of $105.24 and a twelve month high of $214.70. The company has a quick ratio of 1.14, a current ratio of 1.83 and a debt-to-equity ratio of 0.88.

Builders FirstSource (NYSE:BLDR) last released its earnings results on Tuesday, August 6th. The company reported $3.50 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.02 by $0.48. The firm had revenue of $4.46 billion for the quarter, compared to analyst estimates of $4.48 billion. Builders FirstSource had a return on equity of 37.05% and a net margin of 8.25%. The company’s revenue was down 1.6% on a year-over-year basis. During the same quarter last year, the firm posted $3.89 EPS. On average, equities analysts expect that Builders FirstSource will post 11.91 EPS for the current year.

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

Insider Buying and Selling

In related news, Director Craig Arthur Steinke sold 30,000 shares of the business’s stock in a transaction on Thursday, August 8th. The shares were sold at an average price of $153.68, for a total value of $4,610,400.00. Following the sale, the director now directly owns 95,333 shares of the company’s stock, valued at approximately $14,650,775.44. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.80% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. EdgeRock Capital LLC acquired a new stake in Builders FirstSource during the 4th quarter worth approximately $25,000. Innealta Capital LLC bought a new stake in shares of Builders FirstSource in the second quarter valued at about $27,000. Westside Investment Management Inc. acquired a new position in shares of Builders FirstSource in the first quarter valued at about $31,000. Principal Securities Inc. bought a new position in Builders FirstSource during the fourth quarter worth about $32,000. Finally, ORG Partners LLC acquired a new stake in Builders FirstSource in the 1st quarter worth about $33,000. 95.53% of the stock is currently owned by institutional investors.

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.