Builders FirstSource (NASDAQ:BLDR) Stock Rating Upgraded by Zacks Investment Research

Zacks Investment Research upgraded shares of Builders FirstSource (NASDAQ:BLDR) from a sell rating to a hold rating in a report published on Monday, November 13th.

According to Zacks, “Builders FirstSource is a leading supplier and manufacturer of structural and related building products for residential new construction in the United States. Manufacturing facilities include plants that manufacture roof and floor trusses, wall panels, stairs, aluminum and vinyl windows, custom millwork and pre-hung doors. Builders FirstSource also distributes windows, interior and exterior doors, dimensional lumber and lumber sheet goods, millwork and other building products. “

A number of other equities research analysts have also commented on BLDR. BidaskClub upgraded Builders FirstSource from a hold rating to a buy rating in a research report on Wednesday, July 19th. Deutsche Bank upped their price target on Builders FirstSource from $17.00 to $19.00 and gave the company a buy rating in a research report on Wednesday, August 9th. Wedbush restated a buy rating and set a $20.00 target price on shares of Builders FirstSource in a research report on Thursday, September 7th. B. Riley restated a buy rating on shares of Builders FirstSource in a research report on Wednesday, November 1st. Finally, Citigroup increased their price objective on Builders FirstSource from $18.00 to $20.00 and gave the stock a neutral rating in a research note on Friday, November 10th. One analyst has rated the stock with a sell rating, three have given a hold rating and six have assigned a buy rating to the company. Builders FirstSource presently has an average rating of Buy and an average target price of $20.00.

Shares of Builders FirstSource (NASDAQ BLDR) traded down $0.42 during midday trading on Monday, reaching $19.98. The company’s stock had a trading volume of 1,820,000 shares, compared to its average volume of 1,310,000. The company has a debt-to-equity ratio of 4.46, a current ratio of 1.86 and a quick ratio of 1.06. Builders FirstSource has a 52-week low of $10.51 and a 52-week high of $20.52. The firm has a market cap of $2,260.00, a PE ratio of 19.81 and a beta of 2.14.

Builders FirstSource (NASDAQ:BLDR) last posted its quarterly earnings results on Wednesday, November 8th. The company reported $0.39 EPS for the quarter, topping analysts’ consensus estimates of $0.37 by $0.02. Builders FirstSource had a return on equity of 33.66% and a net margin of 1.29%. The company had revenue of $1.88 billion during the quarter, compared to analysts’ expectations of $1.87 billion. During the same quarter in the previous year, the firm earned $0.61 EPS. Builders FirstSource’s revenue was up 7.6% on a year-over-year basis. equities research analysts expect that Builders FirstSource will post 1.06 earnings per share for the current fiscal year.

In other Builders FirstSource news, CEO Floyd F. Sherman sold 40,000 shares of the stock in a transaction on Tuesday, November 21st. The stock was sold at an average price of $19.43, for a total transaction of $777,200.00. Following the completion of the transaction, the chief executive officer now directly owns 623,635 shares of the company’s stock, valued at $12,117,228.05. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Cleveland A. Christophe sold 36,000 shares of the stock in a transaction on Monday, September 11th. The shares were sold at an average price of $16.66, for a total value of $599,760.00. Following the transaction, the director now directly owns 48,181 shares of the company’s stock, valued at $802,695.46. The disclosure for this sale can be found here. Insiders have sold 14,010,466 shares of company stock valued at $227,428,788 over the last ninety days. 14.60% of the stock is currently owned by company insiders.

Institutional investors have recently bought and sold shares of the company. Schwab Charles Investment Management Inc. boosted its holdings in shares of Builders FirstSource by 9.9% in the second quarter. Schwab Charles Investment Management Inc. now owns 402,672 shares of the company’s stock worth $6,169,000 after acquiring an additional 36,217 shares during the period. Ameriprise Financial Inc. boosted its stake in Builders FirstSource by 156.4% during the second quarter. Ameriprise Financial Inc. now owns 218,727 shares of the company’s stock valued at $3,351,000 after buying an additional 133,410 shares during the period. Boston Advisors LLC bought a new stake in Builders FirstSource during the third quarter valued at $304,000. Strs Ohio bought a new stake in Builders FirstSource during the third quarter valued at $1,133,000. Finally, Fisher Asset Management LLC bought a new stake in Builders FirstSource during the third quarter valued at $1,290,000. 94.53% of the stock is owned by hedge funds and other institutional investors.

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About Builders FirstSource

Builders FirstSource, Inc is a supplier and manufacturer of building materials, manufactured components and construction services to professional contractors, sub-contractors, remodelers and consumers. The Company’s operating segments include Northeast, Southeast, South and West. As of December 31, 2016, it operated at 400 locations in 40 states across the United States.

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