Robert W. Baird Raises Builders FirstSource (NYSE:BLDR) Price Target to $222.00

Builders FirstSource (NYSE:BLDR) had its target price boosted by Robert W. Baird from $190.00 to $222.00 in a research report released on Wednesday morning, Benzinga reports. Robert W. Baird currently has an outperform rating on the stock.

Several other equities analysts have also recently weighed in on the company. Truist Financial raised Builders FirstSource from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $165.00 to $220.00 in a research report on Monday, September 16th. Baird R W raised Builders FirstSource from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, August 7th. Jefferies Financial Group boosted their price objective on Builders FirstSource from $185.00 to $223.00 and gave the stock a “buy” rating in a research report on Wednesday, October 9th. Wedbush reissued an “outperform” rating and set a $175.00 price objective on shares of Builders FirstSource in a research report on Tuesday, August 6th. Finally, Stifel Nicolaus cut their price objective on Builders FirstSource from $217.00 to $195.00 and set a “buy” rating for the company in a research report on Thursday, August 8th. Four research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Builders FirstSource has an average rating of “Moderate Buy” and an average target price of $198.38.

Builders FirstSource Price Performance

Shares of NYSE:BLDR opened at $194.97 on Wednesday. Builders FirstSource has a fifty-two week low of $105.24 and a fifty-two week high of $214.70. The business has a 50-day moving average of $181.78 and a two-hundred day moving average of $169.83. The stock has a market capitalization of $23.80 billion, a P/E ratio of 16.69, a P/E/G ratio of 11.48 and a beta of 2.06. The company has a debt-to-equity ratio of 0.88, a current ratio of 1.83 and a quick ratio of 1.14.

Builders FirstSource (NYSE:BLDR) last announced 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 37.05% and a net margin of 8.25%. The company had revenue of $4.46 billion during the quarter, compared to analysts’ expectations of $4.48 billion. During the same quarter in the previous year, the firm earned $3.89 earnings per share. The business’s quarterly revenue was down 1.6% compared to the same quarter last year. On average, equities research analysts predict that Builders FirstSource will post 11.68 EPS for the current fiscal year.

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

Insider Activity

In other news, Director Craig Arthur Steinke sold 30,000 shares of the company’s stock in a transaction that occurred on Thursday, August 8th. The stock was sold at an average price of $153.68, for a total value of $4,610,400.00. Following the sale, the director now directly owns 95,333 shares in the company, valued at approximately $14,650,775.44. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Corporate insiders own 1.80% of the company’s stock.

Institutional Investors Weigh In On Builders FirstSource

Several large investors have recently modified their holdings of the stock. Innealta Capital LLC bought a new stake in Builders FirstSource during the 2nd quarter worth approximately $27,000. Armstrong Advisory Group Inc. bought a new stake in Builders FirstSource during the 3rd quarter worth approximately $30,000. Westside Investment Management Inc. bought a new stake in Builders FirstSource during the 1st quarter worth approximately $31,000. ORG Partners LLC bought a new stake in Builders FirstSource during the 1st quarter worth approximately $33,000. Finally, First Horizon Advisors Inc. grew its position in Builders FirstSource by 42.1% during the 2nd quarter. First Horizon Advisors Inc. now owns 253 shares of the company’s stock worth $35,000 after acquiring an additional 75 shares during the last quarter. 95.53% of the stock is currently owned by institutional investors.

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.