Truist Financial Cuts Builders FirstSource (NYSE:BLDR) Price Target to $180.00

Builders FirstSource (NYSE:BLDR) had its price target dropped by investment analysts at Truist Financial from $190.00 to $180.00 in a report issued on Wednesday, Benzinga reports. The brokerage currently has a “hold” rating on the stock. Truist Financial’s price target indicates a potential upside of 10.33% from the stock’s current price.

BLDR has been the topic of several other research reports. Oppenheimer lifted their price objective on shares of Builders FirstSource from $220.00 to $242.00 and gave the stock an “outperform” rating in a research note on Friday, February 23rd. Jefferies Financial Group lifted their target price on Builders FirstSource from $226.00 to $237.00 and gave the stock a “buy” rating in a report on Thursday, April 18th. DA Davidson reissued a “neutral” rating and issued a $185.00 price target on shares of Builders FirstSource in a research note on Thursday, March 28th. Robert W. Baird decreased their target price on shares of Builders FirstSource from $207.00 to $197.00 and set a “neutral” rating for the company in a report on Wednesday. Finally, Royal Bank of Canada raised their price objective on shares of Builders FirstSource from $186.00 to $211.00 and gave the stock an “outperform” rating in a research note on Friday, February 23rd. Four analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat, Builders FirstSource has a consensus rating of “Moderate Buy” and a consensus target price of $198.93.

Builders FirstSource Stock Performance

Shares of BLDR opened at $163.14 on Wednesday. Builders FirstSource has a 52-week low of $105.24 and a 52-week high of $214.70. The firm has a market capitalization of $19.90 billion, a PE ratio of 13.58, a P/E/G ratio of 1.22 and a beta of 2.08. The firm has a 50-day moving average price of $195.08 and a 200 day moving average price of $169.16. The company has a quick ratio of 1.11, a current ratio of 1.77 and a debt-to-equity ratio of 0.67.

Builders FirstSource (NYSE:BLDR) last released its earnings results on Tuesday, May 7th. The company reported $2.65 earnings per share for the quarter, topping analysts’ consensus estimates of $2.42 by $0.23. Builders FirstSource had a return on equity of 41.10% and a net margin of 9.01%. The firm had revenue of $3.89 billion during the quarter, compared to the consensus estimate of $3.83 billion. During the same period in the prior year, the firm posted $2.96 earnings per share. The firm’s revenue for the quarter was up .2% compared to the same quarter last year. On average, sell-side analysts anticipate that Builders FirstSource will post 13.83 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Cory Jacobs Boydston sold 7,759 shares of the firm’s stock in a transaction on Tuesday, March 12th. The shares were sold at an average price of $200.00, for a total value of $1,551,800.00. Following the transaction, the director now directly owns 28,738 shares in the company, valued at approximately $5,747,600. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 1.90% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. grew its position in Builders FirstSource by 15.7% during the fourth quarter. Vanguard Group Inc. now owns 14,668,049 shares of the company’s stock worth $2,448,684,000 after buying an additional 1,985,297 shares in the last quarter. Norges Bank acquired a new position in shares of Builders FirstSource in the fourth quarter valued at $212,209,000. Invesco Ltd. lifted its position in Builders FirstSource by 80.8% in the third quarter. Invesco Ltd. now owns 1,956,109 shares of the company’s stock worth $243,516,000 after purchasing an additional 874,268 shares during the period. Boston Partners increased its holdings in Builders FirstSource by 73.5% in the 4th quarter. Boston Partners now owns 1,366,784 shares of the company’s stock valued at $227,464,000 after buying an additional 578,961 shares during the period. Finally, Qube Research & Technologies Ltd raised its stake in shares of Builders FirstSource by 30,560.2% in the 3rd quarter. Qube Research & Technologies Ltd now owns 558,322 shares of the company’s stock valued at $69,506,000 after buying an additional 556,501 shares in the last quarter. 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.