B. Riley Lowers Earnings Estimates for Builders FirstSource

Builders FirstSource, Inc. (NYSE:BLDR) – Stock analysts at B. Riley reduced their FY2024 earnings estimates for Builders FirstSource in a research report issued on Wednesday, November 6th. B. Riley analyst A. Rygiel now forecasts that the company will post earnings per share of $11.66 for the year, down from their previous forecast of $11.75. B. Riley has a “Buy” rating and a $187.00 price objective on the stock. The consensus estimate for Builders FirstSource’s current full-year earnings is $11.69 per share.

Builders FirstSource (NYSE:BLDR) last released its earnings results on Tuesday, November 5th. The company reported $3.07 EPS for the quarter, missing analysts’ consensus estimates of $3.09 by ($0.02). The firm had revenue of $4.23 billion during the quarter, compared to analysts’ expectations of $4.44 billion. Builders FirstSource had a net margin of 8.25% and a return on equity of 37.05%. 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 EPS.

BLDR has been the subject of a number of other research reports. Oppenheimer reaffirmed an “outperform” rating and set a $225.00 target price on shares of Builders FirstSource in a research note on Tuesday, October 29th. Truist Financial upgraded shares of Builders FirstSource from a “hold” rating to a “buy” rating and raised their price objective for the company from $165.00 to $220.00 in a research note on Monday, September 16th. Royal Bank of Canada upped their target price on shares of Builders FirstSource from $178.00 to $187.00 and gave the stock an “outperform” rating in a research note on Wednesday. Robert W. Baird raised their price target on shares of Builders FirstSource from $190.00 to $222.00 and gave the company an “outperform” rating in a research report on Wednesday, October 16th. Finally, The Goldman Sachs Group began coverage on Builders FirstSource in a research note on Thursday, October 10th. They set a “buy” rating and a $225.00 target price on the stock. Five analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $206.88.

Builders FirstSource Trading Down 2.3 %

Shares of NYSE BLDR opened at $176.78 on Thursday. Builders FirstSource has a 1 year low of $120.80 and a 1 year high of $214.70. 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 firm has a 50-day moving average of $184.58 and a 200 day moving average of $168.44. The stock has a market cap of $20.59 billion, a P/E ratio of 15.52, a price-to-earnings-growth ratio of 10.15 and a beta of 2.08.

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

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the stock. Peterson Financial Group Inc. purchased a new stake in Builders FirstSource in the 3rd quarter worth approximately $71,000. Mutual of America Capital Management LLC boosted its position in shares of Builders FirstSource by 3.6% in the third quarter. Mutual of America Capital Management LLC now owns 44,776 shares of the company’s stock worth $8,680,000 after purchasing an additional 1,546 shares during the period. Seizert Capital Partners LLC increased its stake in shares of Builders FirstSource by 23.6% in the third quarter. Seizert Capital Partners LLC now owns 214,348 shares of the company’s stock worth $41,554,000 after purchasing an additional 40,976 shares in the last quarter. Vaughan Nelson Investment Management L.P. raised its position in shares of Builders FirstSource by 47.8% during the 3rd quarter. Vaughan Nelson Investment Management L.P. now owns 188,385 shares of the company’s stock valued at $36,521,000 after purchasing an additional 60,955 shares during the period. Finally, KPP Advisory Services LLC purchased a new position in shares of Builders FirstSource during the 3rd quarter valued at $334,000. Institutional investors 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.