DA Davidson Issues Pessimistic Estimate for BLDR Earnings

Builders FirstSource, Inc. (NYSE:BLDR - Free Report) - Equities research analysts at DA Davidson dropped their FY2024 earnings estimates for Builders FirstSource in a research report issued on Wednesday, November 6th. DA Davidson analyst K. Yinger now forecasts that the company will post earnings of $11.56 per share for the year, down from their prior estimate of $11.76. DA Davidson currently has a "Neutral" rating and a $175.00 price target on the stock. The consensus estimate for Builders FirstSource's current full-year earnings is $11.69 per share.

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

Other equities research analysts have also issued research reports about the stock. StockNews.com cut shares of Builders FirstSource from a "buy" rating to a "hold" rating in a research report on Wednesday. Stephens increased their price target on shares of Builders FirstSource from $178.00 to $200.00 and gave the company an "overweight" rating in a research note on Thursday. Wedbush restated an "outperform" rating and issued a $230.00 price target on shares of Builders FirstSource in a report on Wednesday. Bank of America increased their target price on shares of Builders FirstSource from $165.00 to $198.00 and gave the stock a "neutral" rating in a research report on Thursday, September 19th. Finally, Oppenheimer reaffirmed an "outperform" rating and set a $225.00 target price on shares of Builders FirstSource in a report on Tuesday, October 29th. Five research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $206.47.

Builders FirstSource Price Performance

Shares of NYSE BLDR traded down $1.20 during trading hours on Friday, reaching $177.99. 1,353,147 shares of the stock traded hands, compared to its average volume of 1,577,794. Builders FirstSource has a 52-week low of $120.80 and a 52-week high of $214.70. The company has a quick ratio of 1.14, a current ratio of 1.83 and a debt-to-equity ratio of 0.88. The company's 50-day simple moving average is $184.71 and its two-hundred day simple moving average is $168.52. The company has a market capitalization of $20.48 billion, a P/E ratio of 17.49, a price-to-earnings-growth ratio of 10.17 and a beta of 2.08.

Institutional Investors Weigh In On Builders FirstSource

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Armstrong Advisory Group Inc. acquired a new stake in shares of Builders FirstSource in the 3rd quarter worth about $30,000. ORG Partners LLC purchased a new stake in Builders FirstSource during the 1st quarter valued at $33,000. Innealta Capital LLC purchased a new position in Builders FirstSource during the 2nd quarter valued at about $27,000. Reston Wealth Management LLC purchased a new stake in Builders FirstSource during the 3rd quarter valued at about $39,000. Finally, First Horizon Advisors Inc. raised its position in Builders FirstSource by 42.1% during the second quarter. First Horizon Advisors Inc. now owns 253 shares of the company's stock worth $35,000 after acquiring an additional 75 shares during the period. 95.53% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, Director Cleveland A. Christophe sold 10,000 shares of the stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $178.41, for a total value of $1,784,100.00. Following the sale, the director now owns 33,083 shares in the company, valued at $5,902,338.03. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 1.80% of the stock is currently owned by insiders.

Builders FirstSource announced that its Board of Directors has authorized a stock repurchase program on Tuesday, August 6th that allows the company to buyback $1.00 billion in shares. This buyback authorization allows the company to buy up to 5.3% of its stock through open market purchases. Stock buyback programs are usually a sign that the company's board believes its shares are undervalued.

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.