Builders FirstSource (NYSE:BLDR) Coverage Initiated by Analysts at Melius Research

Melius Research began coverage on shares of Builders FirstSource (NYSE:BLDR) in a report published on Tuesday morning, MarketBeat.com reports. The firm issued a sell rating and a $52.00 price objective on the stock.

Other analysts have also issued research reports about the stock. Deutsche Bank Aktiengesellschaft set a $66.00 price target on shares of Builders FirstSource in a research note on Friday, July 31st. UBS Group set a $85.00 price objective on shares of Builders FirstSource in a research note on Thursday, October 1st. DA Davidson set a $68.00 price objective on shares of Builders FirstSource in a report on Friday, July 31st. Royal Bank Of Canada dropped their target price on shares of Builders FirstSource from $107.00 to $88.00 and set an “outperform” rating for the company in a research report on Friday, July 31st. Finally, Citigroup started coverage on shares of Builders FirstSource in a research note on Friday, August 21st. They issued a “market perform” rating on the stock. Nine research analysts have rated the stock with a Buy rating, thirteen have issued a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $85.45.

Builders FirstSource Price Performance

Shares of NYSE BLDR opened at $56.20 on Tuesday. Builders FirstSource has a fifty-two week low of $54.75 and a fifty-two week high of $131.50. The business has a 50 day moving average price of $65.06 and a two-hundred day moving average price of $74.31. The company has a quick ratio of 1.09, a current ratio of 1.79 and a debt-to-equity ratio of 1.14. The firm has a market cap of $6.05 billion, a PE ratio of 61.75, a price-to-earnings-growth ratio of 1.78 and a beta of 1.45.

Builders FirstSource (NYSE:BLDR) last posted its quarterly earnings data on Thursday, July 30th. The company reported $1.17 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.25 by ($0.08). The business had revenue of $3.86 billion for the quarter, compared to analysts’ expectations of $3.91 billion. Builders FirstSource had a return on equity of 11.73% and a net margin of 0.71%.Builders FirstSource’s revenue for the quarter was down 8.8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.38 earnings per share. Sell-side analysts expect that Builders FirstSource will post 3.19 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Builders FirstSource

Hedge funds have recently added to or reduced their stakes in the business. Versant Capital Management Inc raised its holdings in shares of Builders FirstSource by 67.5% during the third quarter. Versant Capital Management Inc now owns 670 shares of the company’s stock worth $38,000 after purchasing an additional 270 shares during the period. Anchor Investment Management LLC boosted its holdings in shares of Builders FirstSource by 93.3% in the 2nd quarter. Anchor Investment Management LLC now owns 725 shares of the company’s stock valued at $65,000 after buying an additional 350 shares during the period. Cidel Asset Management Inc. boosted its holdings in shares of Builders FirstSource by 23.9% in the 2nd quarter. Cidel Asset Management Inc. now owns 3,519 shares of the company’s stock valued at $315,000 after buying an additional 678 shares during the period. Baird Financial Group Inc. grew its position in shares of Builders FirstSource by 16.9% during the 2nd quarter. Baird Financial Group Inc. now owns 23,947 shares of the company’s stock valued at $2,143,000 after buying an additional 3,459 shares during the last quarter. Finally, GoodHaven Capital Management LLC grew its position in shares of Builders FirstSource by 23.4% during the 2nd quarter. GoodHaven Capital Management LLC now owns 228,760 shares of the company’s stock valued at $20,469,000 after buying an additional 43,330 shares during the last quarter. Institutional investors and hedge funds own 95.53% of the company’s stock.

Builders FirstSource Company Profile

Builders FirstSource, Inc (NYSE: BLDR) is a supplier and manufacturer of building materials, manufactured components and construction services for professional homebuilders, contractors, remodelers and other construction professionals in the United States. The company serves customers through a network of locations across the country and supports both residential and selected commercial construction projects.

Its product offerings include lumber and other structural materials, engineered wood products, windows, interior and exterior doors, roofing, siding, cabinets, flooring and related building supplies.