Wedbush Reiterates “Outperform” Rating for Builders FirstSource (NYSE:BLDR)

Wedbush reaffirmed their outperform rating on shares of Builders FirstSource (NYSE:BLDR) in a research note issued to investors on Wednesday morning,RTT News reports. Wedbush currently has a $230.00 price target on the stock.

BLDR has been the subject of a number of other research reports. Loop Capital raised their target price on shares of Builders FirstSource from $190.00 to $230.00 and gave the company a “buy” rating in a research report on Friday, September 20th. Robert W. Baird lifted their price objective on shares of Builders FirstSource from $190.00 to $222.00 and gave the company an “outperform” rating in a research report on Wednesday, October 16th. B. Riley decreased their price objective on shares of Builders FirstSource from $197.00 to $187.00 and set a “buy” rating for the company in a research report on Wednesday, August 7th. Truist Financial raised shares of Builders FirstSource from a “hold” rating to a “buy” rating and lifted their price objective for the company from $165.00 to $220.00 in a research report on Monday, September 16th. Finally, Royal Bank of Canada decreased their price objective on shares of Builders FirstSource from $193.00 to $178.00 and set an “outperform” rating for the company in a research report on Wednesday, August 7th. Five equities research 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. According to MarketBeat.com, Builders FirstSource currently has an average rating of “Moderate Buy” and a consensus target price of $206.47.

Builders FirstSource Stock Down 0.5 %

Shares of BLDR stock opened at $178.35 on Wednesday. The firm has a fifty day moving average of $184.79 and a 200-day moving average of $168.38. The company has a quick ratio of 1.14, a current ratio of 1.77 and a debt-to-equity ratio of 0.83. Builders FirstSource has a 12-month low of $120.80 and a 12-month high of $214.70. The company has a market capitalization of $20.52 billion, a price-to-earnings ratio of 17.42, a P/E/G ratio of 10.48 and a beta of 2.08.

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). Builders FirstSource had a return on equity of 33.55% and a net margin of 7.40%. The company had revenue of $4.23 billion for the quarter, compared to the consensus estimate of $4.44 billion. During the same period in the prior year, the company earned $4.24 EPS. The firm’s revenue was down 6.7% on a year-over-year basis. As a group, equities research analysts predict that Builders FirstSource will post 11.64 earnings per share for the current fiscal year.

Builders FirstSource announced that its Board of Directors has initiated a stock repurchase plan on Tuesday, August 6th that authorizes the company to buyback $1.00 billion in outstanding shares. This buyback authorization authorizes the company to repurchase up to 5.3% of its shares through open market purchases. Shares buyback plans are generally a sign that the company’s management believes its stock is undervalued.

Insider Activity at Builders FirstSource

In related news, Director Cleveland A. Christophe sold 10,000 shares of Builders FirstSource stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $178.41, for a total transaction of $1,784,100.00. Following the sale, the director now directly owns 33,083 shares of the company’s stock, valued at approximately $5,902,338.03. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 1.80% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Builders FirstSource

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Armstrong Advisory Group Inc. acquired a new position in Builders FirstSource in the 3rd quarter valued at approximately $30,000. ORG Partners LLC bought a new stake in shares of Builders FirstSource in the 1st quarter valued at $33,000. Innealta Capital LLC bought a new stake in shares of Builders FirstSource in the 2nd quarter valued at $27,000. Reston Wealth Management LLC bought a new stake in shares of Builders FirstSource in the 3rd quarter valued at $39,000. Finally, First Horizon Advisors Inc. boosted its stake in shares of Builders FirstSource by 42.1% in the 2nd quarter. First Horizon Advisors Inc. now owns 253 shares of the company’s stock valued at $35,000 after purchasing an additional 75 shares during the last quarter. 95.53% of the stock is currently 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.