Builders FirstSource (NYSE:BLDR) Receives Outperform Rating from Oppenheimer

Oppenheimer reaffirmed their outperform rating on shares of Builders FirstSource (NYSE:BLDR) in a research note issued to investors on Thursday, Benzinga reports. The brokerage currently has a $190.00 price target on the stock, down from their prior price target of $230.00.

A number of other analysts have also weighed in on BLDR. StockNews.com lowered shares of Builders FirstSource from a buy rating to a hold rating in a research report on Monday, July 22nd. Zelman & Associates reaffirmed a hold rating on shares of Builders FirstSource in a research note on Monday, June 17th. Barclays cut their target price on shares of Builders FirstSource from $188.00 to $182.00 and set an overweight rating on the stock in a research report on Wednesday. B. Riley decreased their price target on shares of Builders FirstSource from $197.00 to $187.00 and set a buy rating for the company in a research report on Wednesday. Finally, Jefferies Financial Group boosted their price objective on shares of Builders FirstSource from $226.00 to $237.00 and gave the stock a buy rating in a research note on Thursday, April 18th. Six equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of Moderate Buy and an average price target of $180.47.

Builders FirstSource Price Performance

Builders FirstSource stock traded up $2.53 during trading hours on Thursday, reaching $155.68. 1,031,728 shares of the stock were exchanged, compared to its average volume of 1,648,177. The stock has a 50 day moving average of $149.36 and a two-hundred day moving average of $173.06. The company has a market cap of $19.00 billion, a P/E ratio of 13.33, a price-to-earnings-growth ratio of 2.57 and a beta of 2.04. The company has a current ratio of 2.21, a quick ratio of 1.45 and a debt-to-equity ratio of 0.75. Builders FirstSource has a twelve month low of $105.24 and a twelve month high of $214.70.

Builders FirstSource (NYSE:BLDR) last posted its quarterly earnings results on Tuesday, August 6th. The company reported $3.50 EPS for the quarter, topping analysts’ consensus estimates of $3.02 by $0.48. The company had revenue of $4.46 billion during the quarter, compared to analysts’ expectations of $4.48 billion. Builders FirstSource had a return on equity of 38.66% and a net margin of 8.57%. Builders FirstSource’s revenue was down 1.6% on a year-over-year basis. During the same quarter in the previous year, the firm earned $3.89 EPS. Equities analysts expect that Builders FirstSource will post 12.91 EPS for the current fiscal year.

Builders FirstSource declared that its board has authorized a share repurchase program on Tuesday, August 6th that permits the company to buyback $1.00 billion in outstanding shares. This buyback authorization permits the company to repurchase up to 5.3% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s board believes its shares are undervalued.

Insider Buying and Selling

In other Builders FirstSource news, insider Michael Hiller sold 4,875 shares of the firm’s stock in a transaction on Thursday, May 30th. The shares were sold at an average price of $159.25, for a total value of $776,343.75. Following the transaction, the insider now directly 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 Securities & Exchange Commission, which can be accessed through this link. In related news, insider Paul M. Mccrobie sold 9,118 shares of the stock in a transaction on 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 sale, the insider now directly owns 22,667 shares of the company’s stock, valued at approximately $3,855,883.37. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Michael Hiller sold 4,875 shares of the firm’s stock in a transaction on Thursday, May 30th. The shares were 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 in the company, valued at $4,794,380.50. The disclosure for this sale can be found here. 1.80% of the stock is owned by company insiders.

Institutional Trading of Builders FirstSource

Several institutional investors and hedge funds have recently made changes to their positions in the company. Massachusetts Financial Services Co. MA grew its holdings in shares of Builders FirstSource by 339.8% in the second quarter. Massachusetts Financial Services Co. MA now owns 1,180,358 shares of the company’s stock valued at $163,373,000 after acquiring an additional 911,990 shares in the last quarter. Thompson Siegel & Walmsley LLC boosted its holdings in shares of Builders FirstSource by 22.9% in the second quarter. Thompson Siegel & Walmsley LLC now owns 154,561 shares of the company’s stock worth $21,393,000 after acquiring an additional 28,763 shares during the period. Envestnet Asset Management Inc. boosted its stake in Builders FirstSource by 9.5% in the 2nd quarter. Envestnet Asset Management Inc. now owns 146,248 shares of the company’s stock worth $20,242,000 after purchasing an additional 12,693 shares during the period. Wealthspire Advisors LLC increased its position in shares of Builders FirstSource by 4.6% during the second quarter. Wealthspire Advisors LLC now owns 2,031 shares of the company’s stock valued at $281,000 after buying an additional 90 shares during the period. Finally, William Blair Investment Management LLC increased its position in shares of Builders FirstSource by 1.2% during the second quarter. William Blair Investment Management LLC now owns 1,051,461 shares of the company’s stock valued at $145,533,000 after buying an additional 12,518 shares during the period. Hedge funds and other institutional investors own 95.53% of the company’s stock.

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.