Oppenheimer Cuts Builders FirstSource (NYSE:BLDR) Price Target to $110.00

Builders FirstSource (NYSE:BLDR) had its price target cut by Oppenheimer from $121.00 to $110.00 in a report released on Thursday, Marketbeat.com reports. They currently have an outperform rating on the stock.

BLDR has been the subject of several other research reports. BMO Capital Markets lowered their price objective on shares of Builders FirstSource from $100.00 to $93.00 and set a “market perform” rating for the company in a research report on Monday, May 4th. Raymond James Financial reduced their target price on shares of Builders FirstSource from $140.00 to $100.00 in a research report on Friday, May 1st. Jefferies Financial Group decreased their target price on shares of Builders FirstSource from $85.00 to $80.00 and set a “hold” rating for the company in a research note on Monday, May 4th. KeyCorp lowered their price target on shares of Builders FirstSource from $100.00 to $91.00 and set an “overweight” rating for the company in a report on Monday, July 13th. Finally, UBS Group dropped their price target on shares of Builders FirstSource from $143.00 to $122.00 and set a “buy” rating on the stock in a research note on Friday, May 1st. Nine investment analysts have rated the stock with a Buy rating, twelve have given a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $100.35.

Builders FirstSource Price Performance

BLDR stock opened at $72.89 on Thursday. The company has a debt-to-equity ratio of 1.15, a quick ratio of 1.09 and a current ratio of 1.76. Builders FirstSource has a 1 year low of $65.10 and a 1 year high of $151.03. The firm has a market cap of $7.84 billion, a P/E ratio of 27.93, a price-to-earnings-growth ratio of 1.74 and a beta of 1.42. The stock has a 50-day simple moving average of $77.11 and a 200-day simple moving average of $91.34.

Builders FirstSource (NYSE:BLDR) last announced its earnings results on Thursday, April 30th. The company reported $0.27 EPS for the quarter, missing the consensus estimate of $0.39 by ($0.12). The company had revenue of $3.29 billion for the quarter, compared to analysts’ expectations of $3.17 billion. Builders FirstSource had a net margin of 1.97% and a return on equity of 14.89%. The business’s quarterly revenue was down 10.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.51 earnings per share. On average, equities analysts predict that Builders FirstSource will post 4.16 earnings per share for the current fiscal year.

Builders FirstSource announced that its Board of Directors has authorized a share repurchase plan on Thursday, April 30th that allows the company to buyback $500.00 million in shares. This buyback authorization allows the company to reacquire up to 5.4% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s leadership believes its shares are undervalued.

Hedge Funds Weigh In On Builders FirstSource

A number of institutional investors have recently made changes to their positions in the business. Wedge Capital Management L L P NC boosted its stake in shares of Builders FirstSource by 6.3% during the 2nd quarter. Wedge Capital Management L L P NC now owns 89,477 shares of the company’s stock valued at $8,006,000 after buying an additional 5,268 shares during the last quarter. Hudson Value Partners LLC grew its position in shares of Builders FirstSource by 10.2% during the second quarter. Hudson Value Partners LLC now owns 60,904 shares of the company’s stock worth $5,450,000 after buying an additional 5,620 shares in the last quarter. LVM Capital Management Ltd. MI bought a new stake in shares of Builders FirstSource in the second quarter worth $666,000. Polianta Ltd increased its stake in shares of Builders FirstSource by 37.1% in the second quarter. Polianta Ltd now owns 22,900 shares of the company’s stock worth $2,049,000 after buying an additional 6,200 shares during the last quarter. Finally, Czech National Bank raised its holdings in Builders FirstSource by 1.7% in the second quarter. Czech National Bank now owns 30,616 shares of the company’s stock valued at $2,740,000 after acquiring an additional 500 shares in the last quarter. 95.53% of the stock is owned by institutional investors and hedge funds.

Builders FirstSource Company Profile

Builders FirstSource, Inc is a leading supplier of structural and value-added building products and services to professional contractors, homebuilders and remodelers. The company provides a comprehensive range of materials and prefabricated components that support all phases of residential construction, from site development and framing to finishing and installation.

The company’s core offerings include lumber and lumber sheet goods, windows and doors, millwork, roofing and siding, and engineered wood products such as roof and floor trusses.