Builders FirstSource (NYSE:BLDR) Sets New 12-Month Low – What’s Next?

Builders FirstSource, Inc. (NYSE:BLDR) shares hit a new 52-week low during mid-day trading on Wednesday . The company traded as low as $61.51 and last traded at $61.6510, with a volume of 98447 shares traded. The stock had previously closed at $62.58.

Analysts Set New Price Targets

A number of brokerages have recently commented on BLDR. Weiss Ratings lowered Builders FirstSource from a “sell (d+)” rating to a “sell (d)” rating in a research note on Tuesday, July 21st. KeyCorp dropped their price objective 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. BMO Capital Markets reiterated a “market perform” rating and set a $80.00 target price on shares of Builders FirstSource in a research report on Thursday, August 6th. Citizens Jmp started coverage on shares of Builders FirstSource in a report on Friday, August 21st. They set a “market perform” rating on the stock. Finally, Stifel Nicolaus decreased their price target on shares of Builders FirstSource from $76.00 to $70.00 and set a “hold” rating for the company in a research report on Thursday, July 23rd. Nine equities research analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and three have issued a Sell rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $90.35.

Builders FirstSource Stock Down 4.0%

The company has a debt-to-equity ratio of 1.14, a current ratio of 1.79 and a quick ratio of 1.09. The company has a market capitalization of $6.34 billion, a P/E ratio of 64.77, a P/E/G ratio of 1.99 and a beta of 1.41. The stock has a 50-day moving average price of $71.04 and a 200-day moving average price of $79.08.

Builders FirstSource (NYSE:BLDR) last announced its earnings results on Thursday, July 30th. The company reported $1.17 EPS for the quarter, missing the consensus estimate of $1.25 by ($0.08). The company had revenue of $3.86 billion during the quarter, compared to the consensus estimate of $3.91 billion. Builders FirstSource had a net margin of 0.71% and a return on equity of 11.73%. The business’s revenue was down 8.8% on a year-over-year basis. During the same quarter in the previous year, the company earned $2.38 earnings per share. On average, research analysts predict that Builders FirstSource, Inc. will post 3.15 EPS for the current fiscal year.

Institutional Investors Weigh In On Builders FirstSource

Several large investors have recently modified their holdings of BLDR. Integrated Wealth Concepts LLC boosted its position in Builders FirstSource by 9.3% during the first quarter. Integrated Wealth Concepts LLC now owns 3,460 shares of the company’s stock valued at $432,000 after acquiring an additional 295 shares during the last quarter. Woodline Partners LP boosted its position in shares of Builders FirstSource by 40.7% during the 1st quarter. Woodline Partners LP now owns 9,723 shares of the company’s stock valued at $1,215,000 after purchasing an additional 2,812 shares in the last quarter. EverSource Wealth Advisors LLC grew its stake in Builders FirstSource by 180.0% during the second quarter. EverSource Wealth Advisors LLC now owns 1,582 shares of the company’s stock worth $185,000 after purchasing an additional 1,017 shares during the period. Baird Financial Group Inc. increased its holdings in Builders FirstSource by 230.7% in the second quarter. Baird Financial Group Inc. now owns 18,942 shares of the company’s stock worth $2,210,000 after purchasing an additional 13,215 shares in the last quarter. Finally, Jump Financial LLC increased its holdings in Builders FirstSource by 144.1% in the second quarter. Jump Financial LLC now owns 7,223 shares of the company’s stock worth $843,000 after purchasing an additional 4,264 shares in the last quarter. 95.53% of the stock is currently owned by institutional investors and hedge funds.

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 customers. The company serves customers primarily across the United States through a network of locations and distribution facilities.

Its product offerings include lumber and engineered wood products, windows, doors, siding, roofing, insulation, cabinets, countertops, stairs and other construction materials.