Builders FirstSource (NYSE:BLDR) Rating Increased to Strong-Buy at Baird R W

Builders FirstSource (NYSE:BLDR) was upgraded by stock analysts at Baird R W from a “hold” rating to a “strong-buy” rating in a research report issued on Wednesday, Zacks.com reports.

BLDR has been the subject of a number of other reports. B. Riley lowered their price target on shares of Builders FirstSource from $197.00 to $187.00 and set a “buy” rating for the company in a report on Wednesday. Wedbush reissued an “outperform” rating and set a $175.00 price target on shares of Builders FirstSource in a research note on Tuesday. Oppenheimer reaffirmed an “outperform” rating and issued a $230.00 price objective (down previously from $242.00) on shares of Builders FirstSource in a research report on Monday, July 29th. Robert W. Baird upgraded Builders FirstSource from a “neutral” rating to an “outperform” rating and increased their target price for the stock from $185.00 to $190.00 in a research report on Wednesday. Finally, Jefferies Financial Group lifted their price target on Builders FirstSource from $226.00 to $237.00 and gave the company a “buy” rating in a report on Thursday, April 18th. Six research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $183.93.

Builders FirstSource Trading Up 0.2 %

Shares of BLDR opened at $153.10 on Wednesday. Builders FirstSource has a 1-year low of $105.24 and a 1-year high of $214.70. The company has a debt-to-equity ratio of 0.75, a current ratio of 2.21 and a quick ratio of 1.45. The firm has a 50 day simple moving average of $149.46 and a 200-day simple moving average of $173.21. The stock has a market cap of $18.69 billion, a price-to-earnings ratio of 13.11, a price-to-earnings-growth ratio of 2.57 and a beta of 2.04.

Builders FirstSource (NYSE:BLDR) last released its quarterly earnings results on Tuesday, August 6th. The company reported $3.50 earnings per share for the quarter, topping analysts’ consensus estimates of $3.02 by $0.48. Builders FirstSource had a return on equity of 38.66% and a net margin of 8.57%. The company had revenue of $4.46 billion during the quarter, compared to analysts’ expectations of $4.48 billion. During the same period in the previous year, the firm posted $3.89 earnings per share. The business’s revenue for the quarter was down 1.6% compared to the same quarter last year. Equities analysts forecast that Builders FirstSource will post 12.91 EPS for the current fiscal year.

Builders FirstSource declared that its board has approved a stock repurchase program on Tuesday, August 6th that authorizes the company to buyback $1.00 billion in outstanding shares. This buyback authorization authorizes the company to purchase up to 5.3% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board believes its stock is undervalued.

Insiders Place Their Bets

In other news, insider Michael Hiller sold 4,875 shares of Builders FirstSource stock in a transaction that occurred on Thursday, May 30th. The shares were sold at an average price of $159.25, for a total transaction of $776,343.75. Following the sale, the insider now owns 30,106 shares in the company, valued at $4,794,380.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, insider Paul M. Mccrobie sold 9,118 shares of the firm’s stock in a transaction that occurred on Friday, May 24th. The shares were sold at an average price of $170.11, for a total transaction of $1,551,062.98. Following the completion of the sale, the insider now owns 22,667 shares of the company’s stock, valued at $3,855,883.37. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Michael Hiller sold 4,875 shares of the stock in a transaction on Thursday, May 30th. The shares were sold at an average price of $159.25, for a total transaction of $776,343.75. Following the transaction, the insider now owns 30,106 shares in the company, valued at $4,794,380.50. The disclosure for this sale can be found here. 1.80% of the stock is owned by company insiders.

Hedge Funds Weigh In On Builders FirstSource

Several large investors have recently modified their holdings of the stock. EdgeRock Capital LLC acquired a new position in shares of Builders FirstSource in the 4th quarter valued at about $25,000. Innealta Capital LLC bought a new stake in shares of Builders FirstSource in the 2nd quarter worth approximately $27,000. Rakuten Securities Inc. acquired a new position in Builders FirstSource during the 4th quarter valued at approximately $29,000. Westside Investment Management Inc. bought a new position in Builders FirstSource during the 1st quarter worth $31,000. Finally, Principal Securities Inc. acquired a new stake in Builders FirstSource in the fourth quarter worth $32,000. Institutional investors own 95.53% of the company’s stock.

About Builders FirstSource

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.