Loop Capital Boosts Builders FirstSource (NYSE:BLDR) Price Target to $230.00

Builders FirstSource (NYSE:BLDR) had its price objective lifted by Loop Capital from $190.00 to $230.00 in a research note issued to investors on Friday morning, Benzinga reports. They currently have a buy rating on the stock.

BLDR has been the subject of a number of other research reports. Royal Bank of Canada lowered their price target on Builders FirstSource from $193.00 to $178.00 and set an outperform rating for the company in a report on Wednesday, August 7th. Stifel Nicolaus lowered their target price on Builders FirstSource from $217.00 to $195.00 and set a buy rating for the company in a report on Thursday, August 8th. Barclays lowered their target price on Builders FirstSource from $188.00 to $182.00 and set an overweight rating for the company in a report on Wednesday, August 7th. Jefferies Financial Group restated a buy rating and set a $185.00 target price (down previously from $205.00) on shares of Builders FirstSource in a report on Friday, August 9th. Finally, Baird R W upgraded Builders FirstSource from a hold rating to a strong-buy rating in a report on Wednesday, August 7th. Four equities research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Builders FirstSource presently has an average rating of Moderate Buy and an average target price of $190.00.

Builders FirstSource Stock Down 2.0 %

Shares of NYSE BLDR opened at $197.74 on Friday. 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 firm has a market capitalization of $24.14 billion, a price-to-earnings ratio of 16.93, a PEG ratio of 10.06 and a beta of 2.06. The stock has a 50 day moving average price of $167.76 and a 200 day moving average price of $170.66. Builders FirstSource has a 52-week low of $105.24 and a 52-week high of $214.70.

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, beating analysts’ consensus estimates of $3.02 by $0.48. The firm had revenue of $4.46 billion during the quarter, compared to analyst estimates of $4.48 billion. Builders FirstSource had a return on equity of 37.05% and a net margin of 8.25%. Builders FirstSource’s quarterly revenue was down 1.6% on a year-over-year basis. During the same quarter in the previous year, the business earned $3.89 earnings per share. Sell-side analysts expect that Builders FirstSource will post 11.65 earnings per share for the current year.

Builders FirstSource declared that its Board of Directors has initiated a share repurchase program on Tuesday, August 6th that allows the company to buyback $1.00 billion in outstanding shares. This buyback authorization allows the company to repurchase up to 5.3% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s management believes its stock is undervalued.

Insider Activity at Builders FirstSource

In related news, Director Craig Arthur Steinke sold 30,000 shares of the company’s stock in a transaction 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 transaction, the director now directly owns 95,333 shares of the company’s stock, valued at approximately $14,650,775.44. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 1.80% of the stock is owned by insiders.

Hedge Funds Weigh In On Builders FirstSource

Several hedge funds have recently made changes to their positions in BLDR. Principal Securities Inc. acquired a new position in shares of Builders FirstSource in the 4th quarter valued at $32,000. UBS Group AG boosted its holdings in Builders FirstSource by 49.2% in the fourth quarter. UBS Group AG now owns 110,586 shares of the company’s stock valued at $18,461,000 after purchasing an additional 36,475 shares during the last quarter. Quest Partners LLC purchased a new stake in Builders FirstSource in the fourth quarter valued at $313,000. Franklin Resources Inc. boosted its holdings in Builders FirstSource by 5.2% in the fourth quarter. Franklin Resources Inc. now owns 224,403 shares of the company’s stock valued at $37,462,000 after purchasing an additional 11,060 shares during the last quarter. Finally, King Luther Capital Management Corp boosted its holdings in Builders FirstSource by 5.4% in the fourth quarter. King Luther Capital Management Corp now owns 11,170 shares of the company’s stock valued at $1,865,000 after purchasing an additional 571 shares during the last quarter. 95.53% of the stock is owned by institutional investors and hedge funds.

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.