Builders FirstSource, Inc. Forecasted to Post Q3 2024 Earnings of $3.22 Per Share (NYSE:BLDR)

Builders FirstSource, Inc. (NYSE:BLDR) – Equities research analysts at B. Riley cut their Q3 2024 earnings per share (EPS) estimates for Builders FirstSource in a note issued to investors on Wednesday, August 7th. B. Riley analyst A. Rygiel now anticipates that the company will earn $3.22 per share for the quarter, down from their previous estimate of $3.52. B. Riley currently has a “Buy” rating and a $187.00 price objective on the stock. The consensus estimate for Builders FirstSource’s current full-year earnings is $12.91 per share. B. Riley also issued estimates for Builders FirstSource’s FY2024 earnings at $11.75 EPS.

A number of other research firms also recently weighed in on BLDR. Truist Financial cut their price target on Builders FirstSource from $190.00 to $180.00 and set a “hold” rating for the company in a research note on Wednesday, May 8th. Jefferies Financial Group reiterated a “buy” rating and issued a $185.00 target price (down from $205.00) on shares of Builders FirstSource in a research note on Friday. Benchmark cut their price target on shares of Builders FirstSource from $220.00 to $200.00 and set a “buy” rating on the stock in a report on Wednesday. Bank of America cut shares of Builders FirstSource from a “buy” rating to a “neutral” rating and decreased their price objective for the stock from $183.00 to $180.00 in a report on Friday, August 2nd. Finally, Zelman & Associates reaffirmed a “hold” rating on shares of Builders FirstSource in a research report on Monday, June 17th. Six analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $180.47.

Builders FirstSource Stock Up 1.5 %

Shares of BLDR traded up $2.36 during trading hours on Thursday, reaching $155.51. The company’s stock had a trading volume of 1,031,898 shares, compared to its average volume of 1,648,177. The company has a quick ratio of 1.45, a current ratio of 2.21 and a debt-to-equity ratio of 0.75. The firm has a market cap of $18.98 billion, a price-to-earnings ratio of 13.33, a P/E/G ratio of 2.57 and a beta of 2.04. The company has a 50 day moving average of $149.36 and a two-hundred day moving average of $173.06. Builders FirstSource has a 1-year low of $105.24 and a 1-year high of $214.70.

Builders FirstSource (NYSE:BLDR) last announced its earnings results on Tuesday, August 6th. The company reported $3.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.02 by $0.48. Builders FirstSource had a net margin of 8.57% and a return on equity of 38.66%. The company had revenue of $4.46 billion for the quarter, compared to the consensus estimate of $4.48 billion. During the same period in the previous year, the business earned $3.89 EPS. The company’s revenue was down 1.6% on a year-over-year basis.

Builders FirstSource declared that its board has approved a stock repurchase program on Tuesday, August 6th that allows the company to buyback $1.00 billion in outstanding shares. This buyback authorization allows the company to purchase up to 5.3% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s board believes its stock is undervalued.

Insiders Place Their Bets

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

Institutional Trading of Builders FirstSource

Several hedge funds have recently added to or reduced their stakes in BLDR. First Horizon Advisors Inc. increased its holdings in Builders FirstSource by 42.1% in the 2nd quarter. First Horizon Advisors Inc. now owns 253 shares of the company’s stock worth $35,000 after acquiring an additional 75 shares during the last quarter. Team Hewins LLC lifted its holdings in Builders FirstSource by 6.5% during the 1st quarter. Team Hewins LLC now owns 1,313 shares of the company’s stock worth $274,000 after purchasing an additional 80 shares in the last quarter. Private Trust Co. NA boosted its stake 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 during the period. Csenge Advisory Group grew its holdings in Builders FirstSource by 1.9% during the 2nd quarter. Csenge Advisory Group now owns 4,252 shares of the company’s stock valued at $589,000 after buying an additional 81 shares in the last quarter. Finally, Congress Wealth Management LLC DE increased its position in shares of Builders FirstSource by 1.4% during the fourth quarter. Congress Wealth Management LLC DE now owns 6,197 shares of the company’s stock valued at $1,035,000 after buying an additional 85 shares during the period. Institutional investors own 95.53% of the company’s stock.

Builders FirstSource Company Profile

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.