DA Davidson Boosts Builders FirstSource (NYSE:BLDR) Price Target to $175.00

Builders FirstSource (NYSE:BLDR) had its target price upped by equities researchers at DA Davidson from $169.00 to $175.00 in a report released on Wednesday,Benzinga reports. The firm currently has a “neutral” rating on the stock. DA Davidson’s price target would indicate a potential downside of 2.28% from the company’s previous close. DA Davidson also issued estimates for Builders FirstSource’s Q4 2024 earnings at $2.33 EPS, FY2024 earnings at $11.56 EPS and FY2025 earnings at $12.79 EPS.

BLDR has been the subject of several other research reports. Jefferies Financial Group raised their target price on shares of Builders FirstSource from $185.00 to $223.00 and gave the stock a “buy” rating in a research note on Wednesday, October 9th. StockNews.com upgraded shares of Builders FirstSource from a “hold” rating to a “buy” rating in a research report on Monday, September 23rd. Benchmark dropped their target price on Builders FirstSource from $220.00 to $200.00 and set a “buy” rating on the stock in a research report on Wednesday, August 7th. Wedbush restated an “outperform” rating and issued a $230.00 price target on shares of Builders FirstSource in a research note on Wednesday. Finally, Royal Bank of Canada increased their price objective on Builders FirstSource from $178.00 to $187.00 and gave the stock an “outperform” rating in a research report on Wednesday. Five analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Builders FirstSource has a consensus rating of “Moderate Buy” and an average target price of $206.47.

Builders FirstSource Price Performance

Shares of NYSE BLDR opened at $179.09 on Wednesday. The stock has a market cap of $20.86 billion, a P/E ratio of 15.72, a P/E/G ratio of 10.17 and a beta of 2.08. Builders FirstSource has a twelve month low of $120.80 and a twelve month high of $214.70. The stock has a 50 day moving average of $184.71 and a two-hundred day moving average of $168.52. 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 (NYSE:BLDR) last issued its quarterly earnings data on Tuesday, November 5th. The company reported $3.07 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.09 by ($0.02). The business had revenue of $4.23 billion for the quarter, compared to analysts’ expectations of $4.44 billion. Builders FirstSource had a return on equity of 37.05% and a net margin of 8.25%. The company’s revenue for the quarter was down 6.7% on a year-over-year basis. During the same period in the previous year, the business posted $4.24 earnings per share. On average, research analysts forecast that Builders FirstSource will post 11.69 earnings per share for the current year.

Builders FirstSource announced that its board has initiated a stock buyback program on Tuesday, August 6th that permits the company to buyback $1.00 billion in outstanding shares. This buyback authorization permits 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 of directors believes its shares are undervalued.

Hedge Funds Weigh In On Builders FirstSource

A number of institutional investors have recently modified their holdings of the company. Cyndeo Wealth Partners LLC increased its stake in Builders FirstSource by 3.7% in the third quarter. Cyndeo Wealth Partners LLC now owns 1,571 shares of the company’s stock valued at $305,000 after purchasing an additional 56 shares during the last quarter. World Equity Group Inc. increased its stake in shares of Builders FirstSource by 4.1% during the 3rd quarter. World Equity Group Inc. now owns 1,632 shares of the company’s stock valued at $316,000 after acquiring an additional 64 shares during the last quarter. Vanguard Personalized Indexing Management LLC lifted its holdings in shares of Builders FirstSource by 0.7% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 10,240 shares of the company’s stock worth $1,417,000 after acquiring an additional 74 shares during the period. First Horizon Advisors Inc. boosted its position in shares of Builders FirstSource by 42.1% in the second 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. Finally, Csenge Advisory Group grew its holdings in Builders FirstSource by 1.9% in the second quarter. Csenge Advisory Group now owns 4,252 shares of the company’s stock valued at $589,000 after purchasing an additional 81 shares during the period. Institutional investors and hedge funds 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.