Builders FirstSource (NYSE:BLDR) Price Target Raised to $222.00 at Robert W. Baird

Builders FirstSource (NYSE:BLDR) had its target price hoisted by Robert W. Baird from $190.00 to $222.00 in a report released on Wednesday morning, Benzinga reports. The brokerage currently has an outperform rating on the stock.

A number of other research analysts also recently weighed in on BLDR. StockNews.com raised Builders FirstSource from a “hold” rating to a “buy” rating in a research note on Monday, September 23rd. Wedbush reissued an “outperform” rating and issued a $175.00 price target on shares of Builders FirstSource in a research note on Tuesday, August 6th. Truist Financial raised Builders FirstSource from a “hold” rating to a “buy” rating and increased their price target for the company from $165.00 to $220.00 in a research note on Monday, September 16th. Royal Bank of Canada cut their price target on Builders FirstSource from $193.00 to $178.00 and set an “outperform” rating on the stock in a research note on Wednesday, August 7th. Finally, The Goldman Sachs Group started coverage on Builders FirstSource in a research note on Thursday, October 10th. They issued a “buy” rating and a $225.00 price target on the stock. Four analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $198.38.

Builders FirstSource Stock Down 0.2 %

NYSE:BLDR opened at $194.97 on Wednesday. The stock’s fifty day moving average price is $181.78 and its two-hundred day moving average price is $169.83. Builders FirstSource has a 52-week low of $105.24 and a 52-week high of $214.70. The company has a debt-to-equity ratio of 0.88, a quick ratio of 1.14 and a current ratio of 1.83. The company has a market cap of $23.80 billion, a price-to-earnings ratio of 16.69, a P/E/G ratio of 11.48 and a beta of 2.06.

Builders FirstSource (NYSE:BLDR) last posted its quarterly earnings data on Tuesday, August 6th. The company reported $3.50 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.02 by $0.48. Builders FirstSource had a return on equity of 37.05% and a net margin of 8.25%. The firm had revenue of $4.46 billion for the quarter, compared to the consensus estimate of $4.48 billion. During the same quarter in the prior year, the business earned $3.89 EPS. The business’s revenue for the quarter was down 1.6% compared to the same quarter last year. On average, analysts anticipate that Builders FirstSource will post 11.68 EPS for the current year.

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

Insiders Place Their Bets

In other Builders FirstSource news, Director Craig Arthur Steinke sold 30,000 shares of the stock in a transaction dated Thursday, August 8th. The stock was sold at an average price of $153.68, for a total transaction of $4,610,400.00. Following the completion of the transaction, the director now owns 95,333 shares in the company, valued at approximately $14,650,775.44. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 1.80% of the company’s stock.

Hedge Funds Weigh In On Builders FirstSource

Several hedge funds have recently modified their holdings of BLDR. Innealta Capital LLC bought a new position in shares of Builders FirstSource in the 2nd quarter valued at about $27,000. Armstrong Advisory Group Inc. bought a new position in shares of Builders FirstSource in the 3rd quarter valued at about $30,000. Westside Investment Management Inc. bought a new position in shares of Builders FirstSource in the 1st quarter valued at about $31,000. ORG Partners LLC bought a new position in shares of Builders FirstSource in the 1st quarter valued at about $33,000. Finally, First Horizon Advisors Inc. grew its holdings in shares of Builders FirstSource by 42.1% in the 2nd quarter. First Horizon Advisors Inc. now owns 253 shares of the company’s stock valued at $35,000 after acquiring an additional 75 shares in the last quarter. 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.