Builders FirstSource (NYSE:BLDR) Upgraded at Truist Financial

Truist Financial upgraded shares of Builders FirstSource (NYSE:BLDR) from a hold rating to a buy rating in a research note released on Monday morning, Marketbeat.com reports. The firm currently has $220.00 target price on the stock, up from their prior target price of $165.00.

A number of other equities research analysts also recently weighed in on the stock. Bank of America downgraded shares of Builders FirstSource from a buy rating to a neutral rating and lowered their target price for the company from $183.00 to $180.00 in a research note on Friday, August 2nd. Stifel Nicolaus lowered their target price on shares of Builders FirstSource from $217.00 to $195.00 and set a buy rating on the stock in a research note on Thursday, August 8th. Barclays lowered their target price on shares of Builders FirstSource from $188.00 to $182.00 and set an overweight rating on the stock in a research note on Wednesday, August 7th. Royal Bank of Canada lowered their target price on shares of Builders FirstSource from $193.00 to $178.00 and set an outperform rating on the stock in a research note on Wednesday, August 7th. Finally, B. Riley lowered their target price on shares of Builders FirstSource from $197.00 to $187.00 and set a buy rating on the stock in a research note on Wednesday, August 7th. Four investment analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Builders FirstSource has an average rating of Moderate Buy and an average price target of $185.86.

Builders FirstSource Trading Up 0.4 %

Shares of Builders FirstSource stock opened at $194.60 on Monday. Builders FirstSource has a 12-month low of $105.24 and a 12-month high of $214.70. The company has a market cap of $23.75 billion, a price-to-earnings ratio of 16.66, a PEG ratio of 10.06 and a beta of 2.06. The company has a current ratio of 1.83, a quick ratio of 1.14 and a debt-to-equity ratio of 0.88. The company’s 50-day moving average price is $165.76 and its 200-day moving average price is $170.86.

Builders FirstSource (NYSE:BLDR) last announced its quarterly earnings results on Tuesday, August 6th. The company reported $3.50 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.02 by $0.48. Builders FirstSource had a net margin of 8.25% and a return on equity of 37.05%. The firm had revenue of $4.46 billion for the quarter, compared to the consensus estimate of $4.48 billion. During the same period in the prior year, the firm posted $3.89 earnings per share. The company’s revenue for the quarter was down 1.6% on a year-over-year basis. On average, equities analysts expect that Builders FirstSource will post 11.65 earnings per share for the current fiscal year.

Builders FirstSource declared that its Board of Directors has initiated a stock repurchase program on Tuesday, August 6th that permits the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization permits the company to reacquire up to 5.3% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s board believes its shares are undervalued.

Insider Transactions at Builders FirstSource

In other news, Director Craig Arthur Steinke sold 30,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 8th. The shares were sold at an average price of $153.68, for a total value of $4,610,400.00. Following the transaction, the director now owns 95,333 shares in the company, valued at $14,650,775.44. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 1.80% of the company’s stock.

Institutional Trading of Builders FirstSource

Several large investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its holdings in Builders FirstSource by 15.7% in the fourth quarter. Vanguard Group Inc. now owns 14,668,049 shares of the company’s stock valued at $2,448,684,000 after acquiring an additional 1,985,297 shares in the last quarter. Westfield Capital Management Co. LP increased its stake in shares of Builders FirstSource by 11.2% in the 4th quarter. Westfield Capital Management Co. LP now owns 1,416,611 shares of the company’s stock worth $236,489,000 after acquiring an additional 143,041 shares in the last quarter. Boston Partners lifted its position in Builders FirstSource by 0.8% during the 1st quarter. Boston Partners now owns 1,377,335 shares of the company’s stock valued at $285,794,000 after acquiring an additional 10,551 shares during the period. Norges Bank bought a new stake in Builders FirstSource during the fourth quarter worth about $212,209,000. Finally, Massachusetts Financial Services Co. MA grew its holdings in Builders FirstSource by 339.8% in the second quarter. Massachusetts Financial Services Co. MA now owns 1,180,358 shares of the company’s stock worth $163,373,000 after purchasing an additional 911,990 shares during the period. 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.