Builders FirstSource (NYSE:BLDR) Earns “Outperform” Rating from Wedbush

Builders FirstSource (NYSE:BLDR)‘s stock had its “outperform” rating reiterated by stock analysts at Wedbush in a note issued to investors on Wednesday,RTT News reports. They presently have a $230.00 price objective on the stock. Wedbush’s target price indicates a potential upside of 29.02% from the company’s previous close.

A number of other brokerages also recently weighed in on BLDR. StockNews.com upgraded Builders FirstSource from a “hold” rating to a “buy” rating in a report on Monday, September 23rd. Oppenheimer restated an “outperform” rating and issued a $225.00 price objective on shares of Builders FirstSource in a report on Tuesday, October 29th. Stifel Nicolaus dropped their price objective on Builders FirstSource from $217.00 to $195.00 and set a “buy” rating on the stock in a report on Thursday, August 8th. Barclays increased their price objective on Builders FirstSource from $182.00 to $211.00 and gave the stock an “overweight” rating in a report on Wednesday, October 9th. Finally, The Goldman Sachs Group assumed coverage on Builders FirstSource in a report on Thursday, October 10th. They set a “buy” rating and a $225.00 price target on the stock. Five investment analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $206.47.

Builders FirstSource Trading Down 0.5 %

BLDR stock traded down $0.92 during mid-day trading on Wednesday, reaching $178.27. 83,823 shares of the stock traded hands, compared to its average volume of 1,571,945. The company has a current ratio of 1.83, a quick ratio of 1.14 and a debt-to-equity ratio of 0.88. Builders FirstSource has a 52-week low of $120.80 and a 52-week high of $214.70. The company has a market cap of $20.52 billion, a P/E ratio of 17.49, a P/E/G ratio of 10.17 and a beta of 2.08. The stock’s fifty day moving average is $184.71 and its 200-day moving average is $168.52.

Builders FirstSource (NYSE:BLDR) last posted its quarterly earnings data on Tuesday, November 5th. The company reported $3.07 EPS for the quarter, missing analysts’ consensus estimates of $3.09 by ($0.02). Builders FirstSource had a net margin of 8.25% and a return on equity of 37.05%. The firm had revenue of $4.23 billion for the quarter, compared to analysts’ expectations of $4.44 billion. During the same period in the prior year, the company posted $4.24 earnings per share. Builders FirstSource’s quarterly revenue was down 6.7% compared to the same quarter last year. As a group, sell-side analysts expect that Builders FirstSource will post 11.69 earnings per share for the current year.

Builders FirstSource announced that its board has authorized a stock repurchase plan on Tuesday, August 6th that allows the company to repurchase $1.00 billion in shares. This repurchase authorization allows the company to repurchase up to 5.3% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s management believes its shares are undervalued.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Baillie Gifford & Co. bought a new position in Builders FirstSource in the third quarter worth $267,132,000. Boston Partners raised its stake in Builders FirstSource by 0.8% during the first quarter. Boston Partners now owns 1,377,335 shares of the company’s stock worth $285,794,000 after acquiring an additional 10,551 shares in the last quarter. Diamond Hill Capital Management Inc. acquired a new stake in shares of Builders FirstSource in the third quarter valued at $255,867,000. Massachusetts Financial Services Co. MA increased its position 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. Finally, Bank of New York Mellon Corp increased its position in Builders FirstSource by 22.7% in the second quarter. Bank of New York Mellon Corp now owns 1,062,488 shares of the company’s stock worth $147,059,000 after purchasing an additional 196,571 shares during the period. 95.53% of the stock is owned by institutional investors.

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.