Builders FirstSource (NYSE:BLDR) PT Raised to $230.00 at Loop Capital

Builders FirstSource (NYSE:BLDR) had its price objective raised by equities researchers at Loop Capital from $190.00 to $230.00 in a research report issued to clients and investors on Friday, Benzinga reports. The brokerage presently has a “buy” rating on the stock. Loop Capital’s price objective indicates a potential upside of 16.31% from the stock’s current price.

BLDR has been the topic of a number of other reports. Jefferies Financial Group reaffirmed a “buy” rating and issued a $185.00 price target (down from $205.00) on shares of Builders FirstSource in a research note on Friday, August 9th. StockNews.com raised shares of Builders FirstSource from a “hold” rating to a “buy” rating in a research note on Tuesday, September 17th. Bank of America raised their price target on shares of Builders FirstSource from $165.00 to $198.00 and gave the company a “neutral” rating in a research note on Thursday. Wedbush reaffirmed an “outperform” rating and issued a $175.00 price target on shares of Builders FirstSource in a research note on Tuesday, August 6th. Finally, Baird R W raised shares of Builders FirstSource from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, August 7th. Four equities research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $190.00.

Builders FirstSource Trading Down 2.0 %

BLDR stock opened at $197.74 on Friday. The company’s 50-day simple moving average is $167.76 and its 200-day simple moving average is $170.87. 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 has a 52-week low of $105.24 and a 52-week high of $214.70. The firm has a market cap of $24.14 billion, a P/E ratio of 16.93, a PEG ratio of 10.06 and a beta of 2.06.

Builders FirstSource (NYSE:BLDR) last issued its quarterly earnings results on Tuesday, August 6th. The company reported $3.50 earnings per share 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 net margin of 8.25% and a return on equity of 37.05%. Builders FirstSource’s quarterly revenue was down 1.6% compared to the same quarter last year. During the same period last year, the company posted $3.89 EPS. As a group, equities analysts forecast that Builders FirstSource will post 11.65 EPS for the current fiscal year.

Builders FirstSource announced that its Board of Directors has initiated a share buyback program on Tuesday, August 6th that permits the company to buyback $1.00 billion in shares. This buyback authorization permits the company to reacquire up to 5.3% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s board of directors believes its shares are undervalued.

Insider Transactions at Builders FirstSource

In other news, Director Craig Arthur Steinke sold 30,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 8th. The shares were sold at an average price of $153.68, for a total transaction of $4,610,400.00. Following the completion of the sale, the director now owns 95,333 shares in the company, valued at approximately $14,650,775.44. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 1.80% of the company’s stock.

Institutional Trading of Builders FirstSource

A number of hedge funds and other institutional investors have recently made changes to their positions in BLDR. Principal Securities Inc. acquired a new stake in shares of Builders FirstSource during the 4th quarter worth approximately $32,000. UBS Group AG increased its holdings in Builders FirstSource by 49.2% in the 4th quarter. UBS Group AG now owns 110,586 shares of the company’s stock valued at $18,461,000 after purchasing an additional 36,475 shares during the last quarter. Quest Partners LLC acquired a new stake in Builders FirstSource in the 4th quarter valued at approximately $313,000. Franklin Resources Inc. increased its holdings in Builders FirstSource by 5.2% in the 4th quarter. Franklin Resources Inc. now owns 224,403 shares of the company’s stock valued at $37,462,000 after purchasing an additional 11,060 shares during the last quarter. Finally, King Luther Capital Management Corp increased its holdings in Builders FirstSource by 5.4% in the 4th quarter. King Luther Capital Management Corp now owns 11,170 shares of the company’s stock valued at $1,865,000 after purchasing an additional 571 shares during the last quarter. Institutional investors and hedge funds own 95.53% of the company’s stock.

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.