Baird R W Upgrades Builders FirstSource (NYSE:BLDR) to “Strong-Buy”

Builders FirstSource (NYSE:BLDR) was upgraded by analysts at Baird R W from a “hold” rating to a “strong-buy” rating in a research note issued on Wednesday, Zacks.com reports.

BLDR has been the topic of several other research reports. Royal Bank of Canada dropped their price target on shares of Builders FirstSource from $193.00 to $178.00 and set an “outperform” rating on the stock in a research report on Wednesday. Barclays lowered their price target on Builders FirstSource from $188.00 to $182.00 and set an “overweight” rating for the company in a research report on Wednesday. Truist Financial cut their price objective on shares of Builders FirstSource from $190.00 to $180.00 and set a “hold” rating on the stock in a report on Wednesday, May 8th. B. Riley lowered their target price on shares of Builders FirstSource from $197.00 to $187.00 and set a “buy” rating for the company in a report on Wednesday. Finally, Bank of America downgraded shares of Builders FirstSource from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $183.00 to $180.00 in a research report on Friday, August 2nd. Six analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $183.93.

Builders FirstSource Stock Up 0.2 %

Shares of Builders FirstSource stock opened at $153.10 on Wednesday. The stock’s 50-day moving average is $149.46 and its 200 day moving average is $173.21. Builders FirstSource has a one year low of $105.24 and a one year high of $214.70. The firm has a market cap of $18.69 billion, a price-to-earnings ratio of 13.11, a PEG ratio of 2.57 and a beta of 2.04. The company has a debt-to-equity ratio of 0.75, a current ratio of 2.21 and a quick ratio of 1.45.

Builders FirstSource (NYSE:BLDR) last announced its quarterly earnings data on Tuesday, August 6th. The company reported $3.50 earnings per share for the quarter, beating the consensus estimate of $3.02 by $0.48. The firm had revenue of $4.46 billion for the quarter, compared to analyst estimates of $4.48 billion. Builders FirstSource had a net margin of 8.57% and a return on equity of 38.66%. The business’s quarterly revenue was down 1.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $3.89 earnings per share. Equities research analysts anticipate that Builders FirstSource will post 12.91 EPS for the current year.

Builders FirstSource declared 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 repurchase up to 5.3% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s board of directors believes its shares are undervalued.

Insider Transactions at Builders FirstSource

In other news, insider Michael Hiller sold 4,875 shares of the business’s stock in a transaction dated Thursday, May 30th. The stock was sold at an average price of $159.25, for a total transaction of $776,343.75. Following the completion of the transaction, the insider now owns 30,106 shares of the company’s stock, valued at $4,794,380.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, insider Michael Hiller sold 4,875 shares of the stock in a transaction on Thursday, May 30th. The stock was sold at an average price of $159.25, for a total value of $776,343.75. Following the transaction, the insider now owns 30,106 shares of the company’s stock, valued at $4,794,380.50. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Paul M. Mccrobie sold 9,118 shares of the company’s stock in a transaction dated Friday, May 24th. The stock was sold at an average price of $170.11, for a total value of $1,551,062.98. Following the completion of the transaction, the insider now owns 22,667 shares of the company’s stock, valued at $3,855,883.37. The disclosure for this sale can be found here. Insiders own 1.80% of the company’s stock.

Hedge Funds Weigh In On Builders FirstSource

Several institutional investors and hedge funds have recently bought and sold shares of BLDR. First Horizon Advisors Inc. increased its holdings in Builders FirstSource by 42.1% during the 2nd quarter. First Horizon Advisors Inc. now owns 253 shares of the company’s stock valued at $35,000 after purchasing an additional 75 shares during the period. Team Hewins LLC increased its position in Builders FirstSource by 6.5% during the 1st quarter. Team Hewins LLC now owns 1,313 shares of the company’s stock valued at $274,000 after purchasing an additional 80 shares during the period. Private Trust Co. NA raised its holdings in Builders FirstSource by 30.7% in the 4th quarter. Private Trust Co. NA now owns 345 shares of the company’s stock worth $58,000 after purchasing an additional 81 shares in the last quarter. Csenge Advisory Group lifted its position in shares of Builders FirstSource by 1.9% in the 2nd quarter. Csenge Advisory Group now owns 4,252 shares of the company’s stock worth $589,000 after purchasing an additional 81 shares during the period. Finally, Congress Wealth Management LLC DE boosted its stake in shares of Builders FirstSource by 1.4% during the 4th quarter. Congress Wealth Management LLC DE now owns 6,197 shares of the company’s stock valued at $1,035,000 after purchasing an additional 85 shares in the last quarter. 95.53% of the stock is currently 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.