Builders FirstSource (NYSE:BLDR) Shares Gap Up – Still a Buy?

Builders FirstSource, Inc. (NYSE:BLDR) gapped up before the market opened on Wednesday . The stock had previously closed at $154.25, but opened at $165.81. Builders FirstSource shares last traded at $163.07, with a volume of 1,140,103 shares.

Analysts Set New Price Targets

BLDR has been the topic of several analyst reports. DA Davidson boosted their price objective on shares of Builders FirstSource from $169.00 to $175.00 and gave the stock a “neutral” rating in a research note on Wednesday, November 6th. Stifel Nicolaus restated a “buy” rating and issued a $175.00 target price on shares of Builders FirstSource in a report on Wednesday, January 8th. UBS Group began coverage on shares of Builders FirstSource in a report on Friday, October 25th. They set a “buy” rating and a $232.00 price objective on the stock. Bank of America upped their price objective on shares of Builders FirstSource from $165.00 to $198.00 and gave the company a “neutral” rating in a report on Thursday, September 19th. Finally, Oppenheimer reiterated an “outperform” rating and set a $225.00 price objective on shares of Builders FirstSource in a report on Tuesday, October 29th. Four research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $208.75.

Builders FirstSource Stock Up 6.7 %

The company has a debt-to-equity ratio of 0.83, a quick ratio of 1.16 and a current ratio of 1.77. The firm has a market capitalization of $18.94 billion, a PE ratio of 16.07, a PEG ratio of 0.96 and a beta of 2.11. The company’s 50 day simple moving average is $164.95 and its 200-day simple moving average is $169.20.

Builders FirstSource (NYSE:BLDR) last posted its quarterly earnings data on Tuesday, November 5th. The company reported $3.07 earnings per share for the quarter, missing the consensus estimate of $3.09 by ($0.02). The company had revenue of $4.23 billion for the quarter, compared to analysts’ expectations of $4.44 billion. Builders FirstSource had a net margin of 7.40% and a return on equity of 33.55%. The business’s quarterly revenue was down 6.7% compared to the same quarter last year. During the same quarter last year, the business posted $4.24 EPS. On average, analysts forecast that Builders FirstSource, Inc. will post 11.55 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, Director Cleveland A. Christophe sold 10,000 shares of Builders FirstSource stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $178.41, for a total transaction of $1,784,100.00. Following the completion of the transaction, the director now directly owns 33,083 shares of the company’s stock, valued at $5,902,338.03. This trade represents a 23.21 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 1.80% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. Cyndeo Wealth Partners LLC raised its holdings in Builders FirstSource by 3.7% in the third quarter. Cyndeo Wealth Partners LLC now owns 1,571 shares of the company’s stock worth $305,000 after buying an additional 56 shares during the last quarter. World Equity Group Inc. raised its holdings in Builders FirstSource by 4.1% in the third quarter. World Equity Group Inc. now owns 1,632 shares of the company’s stock worth $316,000 after buying an additional 64 shares during the last quarter. HighTower Advisors LLC raised its holdings in Builders FirstSource by 0.3% in the third quarter. HighTower Advisors LLC now owns 22,100 shares of the company’s stock worth $4,296,000 after buying an additional 64 shares during the last quarter. Vanguard Personalized Indexing Management LLC raised its holdings in Builders FirstSource by 0.7% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 10,240 shares of the company’s stock worth $1,417,000 after buying an additional 74 shares during the last quarter. Finally, Private Trust Co. NA raised its holdings in Builders FirstSource by 14.6% in the third quarter. Private Trust Co. NA now owns 642 shares of the company’s stock worth $124,000 after buying an additional 82 shares during the last quarter. 95.53% of the stock is owned by hedge funds and other institutional investors.

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.