B. Riley Weighs in on Builders FirstSource, Inc.’s FY2018 Earnings (BLDR)
Builders FirstSource, Inc. (NASDAQ:BLDR) – Analysts at B. Riley lifted their FY2018 earnings per share (EPS) estimates for Builders FirstSource in a research report issued to clients and investors on Wednesday. B. Riley analyst A. Rygiel now forecasts that the company will post earnings of $1.76 per share for the year, up from their previous forecast of $1.45. B. Riley has a “Buy” rating and a $24.00 price objective on the stock.
Builders FirstSource (NASDAQ:BLDR) last issued its quarterly earnings results on Wednesday, November 8th. The company reported $0.39 earnings per share for the quarter, beating analysts’ consensus estimates of $0.37 by $0.02. The business had revenue of $1.88 billion during the quarter, compared to analyst estimates of $1.87 billion. Builders FirstSource had a net margin of 1.29% and a return on equity of 33.66%. Builders FirstSource’s revenue for the quarter was up 7.6% compared to the same quarter last year. During the same quarter last year, the business posted $0.61 earnings per share.
A number of other analysts have also weighed in on BLDR. ValuEngine raised shares of Builders FirstSource from a “hold” rating to a “buy” rating in a report on Sunday, December 31st. Seaport Global Securities reissued a “buy” rating and issued a $26.00 price target on shares of Builders FirstSource in a report on Wednesday. BidaskClub raised shares of Builders FirstSource from a “buy” rating to a “strong-buy” rating in a report on Wednesday, December 27th. Citigroup raised their price target on shares of Builders FirstSource from $18.00 to $20.00 and gave the company a “neutral” rating in a report on Friday, November 10th. Finally, Zacks Investment Research raised shares of Builders FirstSource from a “sell” rating to a “hold” rating in a report on Monday, November 13th. Three investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company. The stock has a consensus rating of “Buy” and a consensus target price of $20.75.
Shares of Builders FirstSource (NASDAQ BLDR) opened at $22.78 on Friday. The company has a quick ratio of 1.06, a current ratio of 1.86 and a debt-to-equity ratio of 4.46. The firm has a market cap of $2,572.80, a P/E ratio of 22.12 and a beta of 2.16. Builders FirstSource has a fifty-two week low of $10.56 and a fifty-two week high of $22.78.
Several hedge funds have recently made changes to their positions in the company. 1st Global Advisors Inc. grew its holdings in shares of Builders FirstSource by 1.0% in the 2nd quarter. 1st Global Advisors Inc. now owns 13,694 shares of the company’s stock valued at $210,000 after buying an additional 137 shares during the period. Suntrust Banks Inc. grew its holdings in shares of Builders FirstSource by 1.9% in the 2nd quarter. Suntrust Banks Inc. now owns 27,934 shares of the company’s stock valued at $427,000 after buying an additional 515 shares during the period. Wall Street Access Asset Management LLC grew its holdings in shares of Builders FirstSource by 5.0% in the 2nd quarter. Wall Street Access Asset Management LLC now owns 16,800 shares of the company’s stock valued at $257,000 after buying an additional 800 shares during the period. Ameritas Investment Partners Inc. grew its holdings in shares of Builders FirstSource by 17.3% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 8,495 shares of the company’s stock valued at $130,000 after buying an additional 1,253 shares during the period. Finally, Thompson Siegel & Walmsley LLC grew its holdings in shares of Builders FirstSource by 3.6% in the 2nd quarter. Thompson Siegel & Walmsley LLC now owns 45,950 shares of the company’s stock valued at $704,000 after buying an additional 1,600 shares during the period. 94.48% of the stock is owned by institutional investors.
In other Builders FirstSource news, CFO Peter M. Jackson sold 12,500 shares of Builders FirstSource stock in a transaction on Friday, December 8th. The shares were sold at an average price of $20.51, for a total transaction of $256,375.00. Following the completion of the sale, the chief financial officer now owns 26,587 shares of the company’s stock, valued at approximately $545,299.37. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Floyd F. Sherman sold 40,000 shares of the business’s stock in a transaction on Tuesday, November 21st. The shares were sold at an average price of $19.43, for a total transaction of $777,200.00. Following the completion of the transaction, the chief executive officer now directly owns 623,635 shares of the company’s stock, valued at approximately $12,117,228.05. The disclosure for this sale can be found here. Insiders have sold a total of 377,598 shares of company stock valued at $6,950,025 in the last ninety days. Company insiders own 14.60% of the company’s stock.
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About Builders FirstSource
Builders FirstSource, Inc is a supplier and manufacturer of building materials, manufactured components and construction services to professional contractors, sub-contractors, remodelers and consumers. The Company’s operating segments include Northeast, Southeast, South and West. As of December 31, 2016, it operated at 400 locations in 40 states across the United States.
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