Builders FirstSource (NYSE:BLDR) Price Target Lowered to $187.00 at B. Riley

Builders FirstSource (NYSE:BLDR) had its price target reduced by B. Riley from $197.00 to $187.00 in a research note released on Wednesday, Benzinga reports. They currently have a buy rating on the stock. B. Riley also issued estimates for Builders FirstSource’s Q3 2024 earnings at $3.22 EPS and FY2024 earnings at $11.75 EPS.

BLDR has been the topic of several other reports. Bank of America cut shares of Builders FirstSource from a buy rating to a neutral rating and dropped their price objective for the company from $183.00 to $180.00 in a research note on Friday, August 2nd. Truist Financial dropped their price objective on shares of Builders FirstSource from $190.00 to $180.00 and set a hold rating on the stock in a research note on Wednesday, May 8th. Zelman & Associates restated a hold rating on shares of Builders FirstSource in a research report on Monday, June 17th. Barclays decreased their target price on shares of Builders FirstSource from $188.00 to $182.00 and set an overweight rating on the stock in a research report on Wednesday. Finally, Royal Bank of Canada decreased their target price on shares of Builders FirstSource from $193.00 to $178.00 and set an outperform rating on the stock in a research report on Wednesday. Six equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of Moderate Buy and an average target price of $184.27.

Builders FirstSource Stock Up 0.6 %

BLDR stock traded up $0.87 during midday trading on Wednesday, reaching $153.73. 502,868 shares of the company were exchanged, compared to its average volume of 1,643,293. The company has a debt-to-equity ratio of 0.75, a quick ratio of 1.45 and a current ratio of 2.21. Builders FirstSource has a 1-year low of $105.24 and a 1-year high of $214.70. The stock’s 50-day simple moving average is $149.61 and its 200 day simple moving average is $173.35. The company has a market cap of $18.76 billion, a price-to-earnings ratio of 13.03, a price-to-earnings-growth ratio of 2.57 and a beta of 2.04.

Builders FirstSource (NYSE:BLDR) last announced its quarterly earnings data on Tuesday, August 6th. The company reported $3.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.02 by $0.48. The company had revenue of $4.46 billion for the quarter, compared to analysts’ expectations of $4.48 billion. Builders FirstSource had a net margin of 8.57% and a return on equity of 38.66%. Builders FirstSource’s revenue was down 1.6% compared to the same quarter last year. During the same period in the previous year, the company posted $3.89 EPS. On average, equities analysts forecast that Builders FirstSource will post 12.91 earnings per share for the current year.

Builders FirstSource declared that its board has authorized a share buyback program on Tuesday, August 6th that authorizes the company to repurchase $1.00 billion in shares. This repurchase authorization authorizes the company to reacquire up to 5.3% of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s leadership believes its shares are undervalued.

Insiders Place Their Bets

In other Builders FirstSource news, insider Michael Hiller sold 4,875 shares of the company’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 transaction, the insider now owns 30,106 shares in the company, valued at approximately $4,794,380.50. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, insider Michael Hiller sold 4,875 shares of the stock in a transaction that occurred on Thursday, May 30th. The stock was sold at an average price of $159.25, for a total transaction of $776,343.75. Following the completion of the transaction, the insider now directly owns 30,106 shares in the company, valued at approximately $4,794,380.50. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Paul M. Mccrobie sold 9,118 shares of the stock in a transaction that occurred on Friday, May 24th. The shares were sold at an average price of $170.11, for a total value of $1,551,062.98. Following the transaction, the insider now owns 22,667 shares of the company’s stock, valued at $3,855,883.37. The disclosure for this sale can be found here. 1.80% of the stock is owned by company insiders.

Institutional Investors Weigh In On Builders FirstSource

Large investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its holdings in shares of Builders FirstSource by 15.7% during the fourth quarter. Vanguard Group Inc. now owns 14,668,049 shares of the company’s stock valued at $2,448,684,000 after purchasing an additional 1,985,297 shares during the period. Westfield Capital Management Co. LP increased its holdings in shares of Builders FirstSource by 11.2% during the fourth quarter. Westfield Capital Management Co. LP now owns 1,416,611 shares of the company’s stock valued at $236,489,000 after purchasing an additional 143,041 shares during the period. Boston Partners increased its holdings in shares of Builders FirstSource by 0.8% during the first quarter. Boston Partners now owns 1,377,335 shares of the company’s stock valued at $285,794,000 after purchasing an additional 10,551 shares during the period. Norges Bank acquired a new position in shares of Builders FirstSource during the fourth quarter valued at $212,209,000. Finally, Frontier Capital Management Co. LLC increased its holdings in shares of Builders FirstSource by 34.8% during the fourth quarter. Frontier Capital Management Co. LLC now owns 1,133,751 shares of the company’s stock valued at $189,268,000 after purchasing an additional 292,966 shares during the period. 95.53% of the stock is owned by institutional investors and hedge funds.

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.