Builders FirstSource's (BLDR) Outperform Rating Reaffirmed at Wedbush

Wedbush reissued their outperform rating on shares of Builders FirstSource (NYSE:BLDR - Free Report) in a research report sent to investors on Wednesday, RTT News reports. They currently have a $230.00 target price on the stock.

A number of other brokerages have also issued reports on BLDR. StockNews.com raised Builders FirstSource from a "hold" rating to a "buy" rating in a research report on Monday, September 23rd. Robert W. Baird upped their price target on shares of Builders FirstSource from $190.00 to $222.00 and gave the company an "outperform" rating in a report on Wednesday, October 16th. 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 assumed coverage on shares of Builders FirstSource in a report on Thursday, October 10th. They issued a "buy" rating and a $225.00 price target on the stock. Finally, Baird R W raised shares of Builders FirstSource from a "hold" rating to a "strong-buy" rating in a report on Wednesday, August 7th. Four analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $206.88.

Builders FirstSource Trading Down 2.3 %

Builders FirstSource stock traded down $4.21 during trading on Wednesday, reaching $176.78. The company had a trading volume of 3,329,234 shares, compared to its average volume of 1,577,671. Builders FirstSource has a 12-month low of $120.80 and a 12-month high of $214.70. The stock's 50 day moving average price is $184.50 and its two-hundred day moving average price is $168.39. The firm has a market capitalization of $20.59 billion, a price-to-earnings ratio of 15.44, a PEG ratio of 10.15 and a beta of 2.08. The company has a debt-to-equity ratio of 0.88, a quick ratio of 1.14 and a current ratio of 1.83.

Builders FirstSource (NYSE:BLDR - Get Free Report) last posted its earnings results 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). Builders FirstSource had a net margin of 8.25% and a return on equity of 37.05%. The business had revenue of $4.23 billion for the quarter, compared to analyst estimates of $4.44 billion. During the same quarter in the previous year, the firm posted $4.24 EPS. The business's revenue was down 6.7% compared to the same quarter last year. As a group, equities analysts expect that Builders FirstSource will post 11.69 earnings per share for the current fiscal year.

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

Insider Buying and Selling at Builders FirstSource

In other news, Director Craig Arthur Steinke sold 30,000 shares of the company's stock in a transaction dated Thursday, August 8th. The stock was sold at an average price of $153.68, for a total value of $4,610,400.00. Following the transaction, the director now owns 95,333 shares in the company, valued at $14,650,775.44. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 1.80% of the company's stock.

Institutional Investors Weigh In On Builders FirstSource

Several hedge funds have recently modified their holdings of the business. Norden Group LLC bought a new position in Builders FirstSource in the first quarter worth $265,000. Private Advisor Group LLC lifted its position in Builders FirstSource by 20.2% in the first quarter. Private Advisor Group LLC now owns 4,823 shares of the company's stock worth $1,006,000 after purchasing an additional 811 shares during the period. Nordea Investment Management AB lifted its position in Builders FirstSource by 5.6% in the first quarter. Nordea Investment Management AB now owns 9,834 shares of the company's stock worth $2,067,000 after purchasing an additional 523 shares during the period. Manchester Capital Management LLC lifted its position in Builders FirstSource by 58,733.3% in the first quarter. Manchester Capital Management LLC now owns 1,765 shares of the company's stock worth $368,000 after purchasing an additional 1,762 shares during the period. Finally, ORG Partners LLC bought a new position in Builders FirstSource in the first quarter worth $33,000. 95.53% of the stock is owned by institutional investors.

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.