Builders FirstSource (NYSE:BLDR) Stock Rating Lowered by StockNews.com

Builders FirstSource (NYSE:BLDR - Get Free Report) was downgraded by equities researchers at StockNews.com from a "buy" rating to a "hold" rating in a report issued on Tuesday.

Several other analysts also recently issued reports on BLDR. Jefferies Financial Group upped their price target on shares of Builders FirstSource from $185.00 to $223.00 and gave the company a "buy" rating in a report on Wednesday, October 9th. The Goldman Sachs Group began coverage on shares of Builders FirstSource in a research note on Thursday, October 10th. They set a "buy" rating and a $225.00 target price for the company. Truist Financial upgraded shares of Builders FirstSource from a "hold" rating to a "buy" rating and boosted their target price for the stock from $165.00 to $220.00 in a report on Monday, September 16th. Bank of America boosted their price objective on shares of Builders FirstSource from $165.00 to $198.00 and gave the company a "neutral" rating in a research report on Thursday, September 19th. Finally, DA Davidson upped their target price on shares of Builders FirstSource from $169.00 to $175.00 and gave the company a "neutral" rating in a research note on Wednesday, November 6th. Five research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $206.47.

Builders FirstSource Trading Down 2.6 %

Shares of NYSE:BLDR traded down $4.75 during trading hours on Tuesday, hitting $178.84. 1,008,963 shares of the company's stock traded hands, compared to its average volume of 1,574,694. The business has a fifty day moving average price of $185.19 and a 200-day moving average price of $168.18. The company has a debt-to-equity ratio of 0.83, a current ratio of 1.77 and a quick ratio of 1.14. The firm has a market capitalization of $20.58 billion, a P/E ratio of 17.46, a price-to-earnings-growth ratio of 0.99 and a beta of 2.08. Builders FirstSource has a 1 year low of $121.43 and a 1 year high of $214.70.

Builders FirstSource (NYSE:BLDR - Get Free Report) last posted its quarterly earnings results on Tuesday, November 5th. The company reported $3.07 EPS for the quarter, missing the consensus estimate of $3.09 by ($0.02). The business had revenue of $4.23 billion during 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%. Builders FirstSource's revenue for the quarter was down 6.7% compared to the same quarter last year. During the same period in the previous year, the company posted $4.24 earnings per share. Equities analysts expect that Builders FirstSource will post 11.56 earnings per share for the current year.

Builders FirstSource announced that its board has initiated a stock repurchase plan on Tuesday, August 6th that authorizes the company to repurchase $1.00 billion in shares. This repurchase authorization authorizes the company to purchase up to 5.3% of its shares through open market purchases. Shares repurchase plans are often a sign that the company's board of directors believes its shares are undervalued.

Insiders Place Their Bets

In other Builders FirstSource news, Director Cleveland A. Christophe sold 10,000 shares of Builders FirstSource stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $178.41, for a total transaction of $1,784,100.00. Following the completion of the sale, the director now owns 33,083 shares of the company's stock, valued at approximately $5,902,338.03. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 1.80% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Builders FirstSource

Several large investors have recently bought and sold shares of the business. 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 valued at $305,000 after acquiring an additional 56 shares in the last quarter. World Equity Group Inc. lifted its stake in Builders FirstSource by 4.1% during the third quarter. World Equity Group Inc. now owns 1,632 shares of the company's stock valued at $316,000 after buying an additional 64 shares in the last quarter. Vanguard Personalized Indexing Management LLC lifted its position in shares of 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 purchasing an additional 74 shares in the last quarter. First Horizon Advisors Inc. lifted its position in shares of Builders FirstSource by 42.1% in the second quarter. First Horizon Advisors Inc. now owns 253 shares of the company's stock worth $35,000 after purchasing an additional 75 shares in the last quarter. Finally, Csenge Advisory Group increased its holdings in Builders FirstSource by 1.9% in the second quarter. Csenge Advisory Group now owns 4,252 shares of the company's stock worth $589,000 after buying an additional 81 shares during the last quarter. Hedge funds and other 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.