Builders FirstSource (NYSE:BLDR) Issues Quarterly Earnings Results

Builders FirstSource (NYSE:BLDR) announced its quarterly earnings data on Tuesday. The company reported $3.07 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.09 by ($0.02), Briefing.com reports. The firm had revenue of $4.23 billion during the quarter, compared to analysts’ expectations of $4.44 billion. Builders FirstSource had a return on equity of 37.05% and a net margin of 8.25%. The company’s revenue for the quarter was down 6.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned $4.24 earnings per share. Builders FirstSource updated its FY 2024 guidance to EPS.

Builders FirstSource Price Performance

BLDR traded down $5.23 on Wednesday, reaching $175.76. 2,248,723 shares of the company’s stock were exchanged, compared to its average volume of 1,572,388. Builders FirstSource has a twelve month low of $120.80 and a twelve month high of $214.70. The stock has a market cap of $20.47 billion, a PE ratio of 15.44, a P/E/G ratio of 10.15 and a beta of 2.08. 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 stock’s fifty day moving average price is $184.50 and its 200-day moving average price is $168.39.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on BLDR shares. Wedbush reissued an “outperform” rating and set a $230.00 price target on shares of Builders FirstSource in a research report on Wednesday. StockNews.com upgraded shares of Builders FirstSource from a “hold” rating to a “buy” rating in a research report on Monday, September 23rd. Barclays boosted their price objective on Builders FirstSource from $182.00 to $211.00 and gave the company an “overweight” rating in a report on Wednesday, October 9th. Benchmark decreased their target price on shares of Builders FirstSource from $220.00 to $200.00 and set a “buy” rating for the company in a research note on Wednesday, August 7th. Finally, Truist Financial upgraded shares of Builders FirstSource from a “hold” rating to a “buy” rating and upped their price objective for the stock from $165.00 to $220.00 in a research report on Monday, September 16th. Four investment analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $206.88.

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

Insider Buying and Selling at Builders FirstSource

In other news, Director Craig Arthur Steinke sold 30,000 shares of the business’s stock in a transaction dated 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 transaction, the director now owns 95,333 shares of the company’s stock, valued at approximately $14,650,775.44. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 1.80% of the stock is owned by insiders.

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.