B. Riley Expects Reduced Earnings for Builders FirstSource

Builders FirstSource, Inc. (NYSE:BLDR - Free Report) - Equities research analysts at B. Riley dropped their FY2024 EPS estimates for shares of Builders FirstSource in a report issued on Wednesday, November 6th. B. Riley analyst A. Rygiel now forecasts that the company will post earnings of $11.66 per share for the year, down from their prior 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.

BLDR has been the subject of a number of other research reports. Loop Capital upped their price objective on shares of Builders FirstSource from $190.00 to $230.00 and gave the company a "buy" rating in a research note on Friday, September 20th. Stephens lifted their price objective on Builders FirstSource from $178.00 to $200.00 and gave the stock an "overweight" rating in a report on Thursday. StockNews.com cut Builders FirstSource from a "buy" rating to a "hold" rating in a report on Wednesday. Jefferies Financial Group lifted their price target on Builders FirstSource from $185.00 to $223.00 and gave the stock a "buy" rating in a research note on Wednesday, October 9th. Finally, UBS Group assumed coverage on Builders FirstSource in a research note on Friday, October 25th. They set a "buy" rating and a $232.00 price objective for the company. Five equities research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $206.47.

Builders FirstSource Price Performance

BLDR traded up $2.31 during midday trading on Thursday, hitting $179.09. The stock had a trading volume of 1,826,371 shares, compared to its average volume of 1,116,530. 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 quick ratio of 1.14 and a current ratio of 1.83. The business has a fifty day moving average of $184.71 and a 200 day moving average of $168.52. The company has a market cap of $20.86 billion, a P/E ratio of 15.72, a price-to-earnings-growth ratio of 10.17 and a beta of 2.08.

Builders FirstSource (NYSE:BLDR - Get Free Report) last issued its quarterly earnings results on Tuesday, November 5th. The company reported $3.07 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.09 by ($0.02). The firm had revenue of $4.23 billion for the quarter, compared to the consensus estimate 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% on a year-over-year basis. During the same period last year, the firm earned $4.24 EPS.

Builders FirstSource declared that its Board of Directors has authorized a stock repurchase plan on Tuesday, August 6th that permits the company to buyback $1.00 billion in outstanding shares. This buyback authorization permits the company to reacquire up to 5.3% of its shares through open market purchases. Shares buyback plans are typically a sign that the company's board of directors believes its shares are undervalued.

Hedge Funds Weigh In On Builders FirstSource

Several large investors have recently made changes to their positions in the business. Baillie Gifford & Co. bought a new stake in Builders FirstSource in the 3rd quarter worth approximately $267,132,000. Diamond Hill Capital Management Inc. bought a new position in Builders FirstSource in the 3rd quarter worth $255,867,000. Massachusetts Financial Services Co. MA lifted its position in Builders FirstSource by 339.8% during the second quarter. Massachusetts Financial Services Co. MA now owns 1,180,358 shares of the company's stock valued at $163,373,000 after purchasing an additional 911,990 shares in the last quarter. Robeco Institutional Asset Management B.V. raised its stake in shares of Builders FirstSource by 109.7% in the third quarter. Robeco Institutional Asset Management B.V. now owns 904,600 shares of the company's stock worth $175,366,000 after buying an additional 473,238 shares during the period. Finally, Bessemer Group Inc. lifted its position in shares of Builders FirstSource by 477,028.7% during the 1st quarter. Bessemer Group Inc. now owns 448,501 shares of the company's stock valued at $93,535,000 after buying an additional 448,407 shares in the last quarter. 95.53% of the stock is currently owned by hedge funds and other institutional investors.

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.