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

Builders FirstSource (NYSE:BLDR) had its price target lifted by Robert W. Baird from $190.00 to $222.00 in a report issued on Wednesday, Benzinga reports. They currently have an outperform rating on the stock.

Other equities analysts have also issued reports about the company. Baird R W upgraded Builders FirstSource from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, August 7th. Bank of America raised their target price on Builders FirstSource from $165.00 to $198.00 and gave the company a “neutral” rating in a research note on Thursday, September 19th. StockNews.com upgraded shares of Builders FirstSource from a “hold” rating to a “buy” rating in a research report on Monday, September 23rd. Barclays raised their price objective on shares of Builders FirstSource from $182.00 to $211.00 and gave the company an “overweight” rating in a research report on Wednesday, October 9th. Finally, Loop Capital boosted their target price on shares of Builders FirstSource from $190.00 to $230.00 and gave the stock a “buy” rating in a report on Friday, September 20th. Four equities research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $198.38.

Builders FirstSource Price Performance

Shares of NYSE BLDR opened at $198.46 on Wednesday. The firm’s 50-day simple moving average is $179.24 and its 200 day simple moving average is $169.52. The stock has a market cap of $24.22 billion, a P/E ratio of 16.99, a P/E/G ratio of 11.48 and a beta of 2.06. The company has a quick ratio of 1.14, a current ratio of 1.83 and a debt-to-equity ratio of 0.88. Builders FirstSource has a fifty-two week low of $105.24 and a fifty-two week high of $214.70.

Builders FirstSource (NYSE:BLDR) last released its quarterly earnings results on Tuesday, August 6th. The company reported $3.50 EPS for the quarter, topping analysts’ consensus estimates of $3.02 by $0.48. The company had revenue of $4.46 billion for the quarter, compared to the consensus estimate of $4.48 billion. Builders FirstSource had a net margin of 8.25% and a return on equity of 37.05%. Builders FirstSource’s revenue was down 1.6% on a year-over-year basis. During the same period in the previous year, the firm earned $3.89 EPS. Equities analysts expect that Builders FirstSource will post 11.68 EPS for the current year.

Builders FirstSource declared that its Board of Directors has authorized a share repurchase plan on Tuesday, August 6th that allows the company to buyback $1.00 billion in outstanding shares. This buyback authorization allows the company to buy up to 5.3% of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s management believes its stock is undervalued.

Insider Activity

In related news, Director Craig Arthur Steinke sold 30,000 shares of the stock in a transaction dated 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 completion of the sale, the director now directly owns 95,333 shares of the company’s stock, valued at approximately $14,650,775.44. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.80% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in BLDR. Harbour Capital Advisors LLC purchased a new position in shares of Builders FirstSource during the 3rd quarter valued at $296,000. Riversedge Advisors LLC purchased a new position in Builders FirstSource in the third quarter valued at about $202,000. Mezzasalma Advisors LLC purchased a new position in Builders FirstSource in the third quarter valued at about $203,000. Amplius Wealth Advisors LLC purchased a new stake in shares of Builders FirstSource during the 3rd quarter worth about $231,000. Finally, Swedbank AB lifted its holdings in shares of Builders FirstSource by 20.6% during the 3rd quarter. Swedbank AB now owns 45,465 shares of the company’s stock valued at $8,814,000 after buying an additional 7,774 shares during the last quarter. 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.