Builders FirstSource (NYSE:BLDR) Hits New 1-Year Low After Analyst Downgrade

Shares of Builders FirstSource, Inc. (NYSE:BLDR) hit a new 52-week low on Tuesday after Barclays lowered their price target on the stock from $165.00 to $151.00. Barclays currently has an overweight rating on the stock. Builders FirstSource traded as low as $112.13 and last traded at $113.66, with a volume of 2500213 shares changing hands. The stock had previously closed at $118.91.

A number of other brokerages also recently issued reports on BLDR. Wedbush restated an “outperform” rating and set a $230.00 price target on shares of Builders FirstSource in a report on Wednesday, December 18th. Raymond James reissued an “outperform” rating and set a $170.00 target price (down previously from $180.00) on shares of Builders FirstSource in a research note on Friday, February 21st. Truist Financial decreased their price target on Builders FirstSource from $220.00 to $180.00 and set a “buy” rating on the stock in a research note on Friday, February 21st. BMO Capital Markets reduced their price objective on shares of Builders FirstSource from $175.00 to $168.00 and set a “market perform” rating on the stock in a report on Monday, February 24th. Finally, The Goldman Sachs Group lowered their target price on shares of Builders FirstSource from $200.00 to $180.00 and set a “buy” rating for the company in a research note on Friday, February 21st. Five research analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $187.89.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of BLDR. Smartleaf Asset Management LLC boosted its stake in shares of Builders FirstSource by 34.9% in the 4th quarter. Smartleaf Asset Management LLC now owns 518 shares of the company’s stock valued at $74,000 after buying an additional 134 shares during the period. Mountain Lake Investment Management LLC raised its holdings in Builders FirstSource by 7.0% in the fourth quarter. Mountain Lake Investment Management LLC now owns 36,367 shares of the company’s stock valued at $5,201,000 after acquiring an additional 2,367 shares in the last quarter. Fisher Asset Management LLC lifted its stake in Builders FirstSource by 14.9% in the fourth quarter. Fisher Asset Management LLC now owns 196,491 shares of the company’s stock worth $28,084,000 after acquiring an additional 25,535 shares during the last quarter. Fiera Capital Corp acquired a new position in Builders FirstSource during the 4th quarter worth approximately $27,089,000. Finally, Lecap Asset Management Ltd. increased its position in shares of Builders FirstSource by 82.6% in the 4th quarter. Lecap Asset Management Ltd. now owns 22,043 shares of the company’s stock valued at $3,151,000 after purchasing an additional 9,970 shares during the last quarter. 95.53% of the stock is owned by institutional investors and hedge funds.

Builders FirstSource Price Performance

The firm has a market capitalization of $14.18 billion, a price-to-earnings ratio of 13.77, a price-to-earnings-growth ratio of 0.80 and a beta of 1.99. The stock’s fifty day moving average price is $136.34 and its two-hundred day moving average price is $160.09. The company has a current ratio of 1.77, a quick ratio of 1.16 and a debt-to-equity ratio of 0.86.

Builders FirstSource (NYSE:BLDR) last posted its earnings results on Thursday, February 20th. The company reported $2.31 EPS for the quarter, beating the consensus estimate of $2.18 by $0.13. The firm had revenue of $3.82 billion for the quarter, compared to analyst estimates of $3.90 billion. Builders FirstSource had a return on equity of 30.54% and a net margin of 6.57%. Equities research analysts expect that Builders FirstSource, Inc. will post 11.59 EPS for the current year.

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.