Royal Bank of Canada Issues Positive Forecast for Builders FirstSource (NYSE:BLDR) Stock Price

Builders FirstSource (NYSE:BLDR) had its target price raised by Royal Bank of Canada from $178.00 to $187.00 in a note issued to investors on Wednesday,Benzinga reports. The brokerage presently has an “outperform” rating on the stock. Royal Bank of Canada’s price objective points to a potential upside of 4.90% from the stock’s previous close.

A number of other research analysts also recently issued reports on BLDR. The Goldman Sachs Group started 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. Bank of America lifted their price objective on Builders FirstSource from $165.00 to $198.00 and gave the stock a “neutral” rating in a report on Thursday, September 19th. Barclays raised their target price on Builders FirstSource from $182.00 to $211.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 9th. Oppenheimer reiterated an “outperform” rating and issued a $225.00 price objective on shares of Builders FirstSource in a research note on Tuesday, October 29th. Finally, Baird R W raised shares of Builders FirstSource from a “hold” rating to a “strong-buy” rating in a report on Wednesday, August 7th. Five investment 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’s stock. According to MarketBeat, Builders FirstSource has an average rating of “Moderate Buy” and a consensus target price of $206.47.

Builders FirstSource Stock Down 0.5 %

NYSE:BLDR traded down $0.92 during mid-day trading on Wednesday, hitting $178.27. 83,823 shares of the company’s stock were exchanged, compared to its average volume of 1,571,945. Builders FirstSource has a one year low of $120.80 and a one year high of $214.70. The business has a fifty day moving average price of $184.71 and a 200 day moving average price of $168.52. The company has a market cap of $20.52 billion, a PE ratio of 17.49, a P/E/G ratio of 10.17 and a beta of 2.08. 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 data on Tuesday, November 5th. The company reported $3.07 EPS for the quarter, missing the consensus estimate of $3.09 by ($0.02). The firm had revenue of $4.23 billion for the quarter, compared to analysts’ expectations of $4.44 billion. Builders FirstSource had a net margin of 8.25% and a return on equity of 37.05%. The business’s revenue for the quarter was down 6.7% compared to the same quarter last year. During the same period last year, the company posted $4.24 earnings per share. Equities analysts predict that Builders FirstSource will post 11.69 EPS for the current year.

Builders FirstSource announced that its Board of Directors has authorized a stock buyback program on Tuesday, August 6th that authorizes the company to buyback $1.00 billion in outstanding shares. This buyback authorization authorizes the company to purchase up to 5.3% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s board of directors believes its stock is undervalued.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. Baillie Gifford & Co. purchased a new stake in Builders FirstSource in the 3rd quarter worth about $267,132,000. Boston Partners boosted its stake in shares of Builders FirstSource by 0.8% during the first quarter. Boston Partners now owns 1,377,335 shares of the company’s stock valued at $285,794,000 after purchasing an additional 10,551 shares during the period. Diamond Hill Capital Management Inc. purchased a new position in shares of Builders FirstSource during the third quarter worth approximately $255,867,000. Massachusetts Financial Services Co. MA raised its stake in shares of Builders FirstSource by 339.8% during the second quarter. Massachusetts Financial Services Co. MA now owns 1,180,358 shares of the company’s stock valued at $163,373,000 after acquiring an additional 911,990 shares in the last quarter. Finally, Bank of New York Mellon Corp boosted its holdings in shares of 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 valued at $147,059,000 after purchasing an additional 196,571 shares during the period. Institutional investors own 95.53% of the company’s stock.

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.