#5 - Builder’s FirstSource (NYSE:BLDR)
The homebuilding sector has been one of the hottest sectors both during the pandemic and as the economy reopens. Demand for new homes is likely to continue as many Americans have committed to relocating. This trend should provide strong support for Builder’s FirstSource (NASDAQ: BLDR) stock which is already up 31% for the year. Builder’s FirstSource is a leading supplier of building products and integrated services to professional homebuilders.
BLDR stock is currently trading near its 52-week high as well as the consensus price target of the analyst community. However, since the company reported earnings in August, a number of analysts have boosted their price targets for the stock suggesting that there could be a significant upside ahead.
A catalyst for the stock may be the company’s shift toward prefabricated solutions for items like roof trusses that are drawing the attention of builders who are looking for ways to shorten the time of their build cycles while also helping to reduce the rising labor costs.
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.
Read More - Current Price
- $178.52
- Consensus Rating
- Moderate Buy
- Ratings Breakdown
- 15 Buy Ratings, 4 Hold Ratings, 0 Sell Ratings.
- Consensus Price Target
- $206.47 (15.7% Upside)
