Bank of America Increases Builders FirstSource (NYSE:BLDR) Price Target to $198.00

Builders FirstSource (NYSE:BLDR) had its price objective upped by equities researchers at Bank of America from $165.00 to $198.00 in a report issued on Thursday, Benzinga reports. The firm currently has a “neutral” rating on the stock. Bank of America‘s price target suggests a potential upside of 0.13% from the company’s previous close.

Other equities analysts have also recently issued research reports about the stock. Truist Financial upgraded shares of Builders FirstSource from a “hold” rating to a “buy” rating and increased their price objective for the stock from $165.00 to $220.00 in a research note on Monday, September 16th. Jefferies Financial Group reiterated a “buy” rating and issued a $185.00 price objective (down previously from $205.00) on shares of Builders FirstSource in a research note on Friday, August 9th. Wedbush reiterated an “outperform” rating and issued a $175.00 price objective on shares of Builders FirstSource in a research note on Tuesday, August 6th. Benchmark lowered their price objective on shares of Builders FirstSource from $220.00 to $200.00 and set a “buy” rating on the stock in a research note on Wednesday, August 7th. Finally, Robert W. Baird upgraded shares of Builders FirstSource from a “neutral” rating to an “outperform” rating and increased their price objective for the stock from $185.00 to $190.00 in a research note on Wednesday, August 7th. Four investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Builders FirstSource has an average rating of “Moderate Buy” and an average price target of $190.00.

Builders FirstSource Price Performance

BLDR opened at $197.74 on Thursday. The company has a debt-to-equity ratio of 0.88, a quick ratio of 1.14 and a current ratio of 1.83. The stock has a market capitalization of $24.14 billion, a P/E ratio of 16.93, a P/E/G ratio of 10.06 and a beta of 2.06. The company’s 50-day simple moving average is $167.76 and its two-hundred day simple moving average is $171.06. Builders FirstSource has a 52-week low of $105.24 and a 52-week high of $214.70.

Builders FirstSource (NYSE:BLDR) last posted its earnings results on Tuesday, August 6th. The company reported $3.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.02 by $0.48. The business had revenue of $4.46 billion for the quarter, compared to analysts’ expectations of $4.48 billion. Builders FirstSource had a net margin of 8.25% and a return on equity of 37.05%. The business’s revenue for the quarter was down 1.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $3.89 EPS. As a group, analysts predict that Builders FirstSource will post 11.65 EPS for the current year.

Builders FirstSource announced that its board has initiated a stock repurchase plan on Tuesday, August 6th that authorizes the company to buyback $1.00 billion in outstanding shares. This buyback authorization authorizes the company to buy up to 5.3% of its stock through open market purchases. Stock buyback plans are usually an indication that the company’s board of directors believes its stock is undervalued.

Insider Activity

In other news, Director Craig Arthur Steinke sold 30,000 shares of Builders FirstSource stock in a transaction that occurred on Thursday, August 8th. The shares were sold at an average price of $153.68, for a total transaction of $4,610,400.00. Following the sale, the director now owns 95,333 shares in the company, valued at $14,650,775.44. The transaction was disclosed in a document filed with the SEC, which is available at this link. Company insiders own 1.80% of the company’s stock.

Institutional Investors Weigh In On Builders FirstSource

Several large investors have recently bought and sold shares of BLDR. Innealta Capital LLC bought a new stake in Builders FirstSource in the second quarter worth $27,000. Westside Investment Management Inc. bought a new stake in Builders FirstSource in the first quarter worth $31,000. Principal Securities Inc. bought a new stake in Builders FirstSource in the fourth quarter worth $32,000. ORG Partners LLC bought a new stake in Builders FirstSource in the first quarter worth $33,000. Finally, American Capital Advisory LLC purchased a new position in Builders FirstSource during the first quarter worth $34,000. Institutional investors own 95.53% of the company’s stock.

Builders FirstSource Company Profile

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.