BMO Capital Markets Cuts Builders FirstSource (NYSE:BLDR) Price Target to $85.00

Builders FirstSource (NYSE:BLDR) had its price target lowered by BMO Capital Markets from $93.00 to $85.00 in a report released on Tuesday,Benzinga reports. The brokerage currently has a market perform rating on the stock.

BLDR has been the topic of several other research reports. Truist Financial cut their price objective on Builders FirstSource from $145.00 to $115.00 and set a “buy” rating on the stock in a research report on Thursday, April 30th. UBS Group decreased their target price on Builders FirstSource from $143.00 to $122.00 and set a “buy” rating for the company in a research report on Friday, May 1st. Benchmark lowered their target price on shares of Builders FirstSource from $105.00 to $100.00 and set a “buy” rating for the company in a research note on Thursday, July 23rd. Stifel Nicolaus cut their price target on shares of Builders FirstSource from $76.00 to $70.00 and set a “hold” rating on the stock in a report on Thursday, July 23rd. Finally, Bank of America cut their price target on shares of Builders FirstSource from $123.00 to $100.00 and set a “neutral” rating on the stock in a report on Monday, April 20th. Nine equities research analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $99.97.

Builders FirstSource Stock Down 2.4%

Shares of NYSE:BLDR opened at $66.12 on Tuesday. Builders FirstSource has a 1 year low of $65.10 and a 1 year high of $151.03. The business has a 50 day simple moving average of $77.08 and a two-hundred day simple moving average of $90.01. The firm has a market capitalization of $7.11 billion, a PE ratio of 25.33, a price-to-earnings-growth ratio of 1.67 and a beta of 1.42. The company has a debt-to-equity ratio of 1.15, a current ratio of 1.76 and a quick ratio of 1.09.

Builders FirstSource (NYSE:BLDR) last released its earnings results on Thursday, July 30th. The company reported $1.17 EPS for the quarter, missing analysts’ consensus estimates of $1.25 by ($0.08). Builders FirstSource had a net margin of 1.97% and a return on equity of 14.89%. The business had revenue of $3.86 billion for the quarter, compared to the consensus estimate of $3.91 billion. During the same period in the prior year, the company posted $2.38 EPS. The company’s quarterly revenue was down 8.8% compared to the same quarter last year. On average, equities analysts predict that Builders FirstSource will post 4.16 EPS for the current year.

Builders FirstSource announced that its board has authorized a stock repurchase plan on Thursday, April 30th that permits the company to repurchase $500.00 million in shares. This repurchase authorization permits the company to repurchase up to 5.4% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s board of directors believes its stock is undervalued.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Caitong International Asset Management Co. Ltd raised its holdings in shares of Builders FirstSource by 167.1% in the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 211 shares of the company’s stock valued at $26,000 after purchasing an additional 132 shares in the last quarter. Cromwell Holdings LLC boosted its stake in shares of Builders FirstSource by 1,323.5% during the fourth quarter. Cromwell Holdings LLC now owns 242 shares of the company’s stock valued at $25,000 after purchasing an additional 225 shares in the last quarter. CYBER HORNET ETFs LLC purchased a new position in Builders FirstSource during the second quarter valued at approximately $38,000. MUFG Securities EMEA plc purchased a new position in Builders FirstSource during the second quarter valued at approximately $38,000. Finally, Sunbelt Securities Inc. raised its stake in Builders FirstSource by 508.5% in the first quarter. Sunbelt Securities Inc. now owns 359 shares of the company’s stock worth $30,000 after buying an additional 300 shares in the last quarter. 95.53% of the stock is currently owned by institutional investors.

Key Stories Impacting Builders FirstSource

Here are the key news stories impacting Builders FirstSource this week:

• Positive Sentiment: An insider reportedly purchased 50,000 BLDR shares for approximately $4.4 million, potentially signaling confidence that the selloff has created value. Builders FirstSource Falls as Investors Weigh Weak Housing Signals and Earnings Risk

Builders FirstSource Company Profile

Builders FirstSource, Inc is a leading supplier of structural and value-added building products and services to professional contractors, homebuilders and remodelers. The company provides a comprehensive range of materials and prefabricated components that support all phases of residential construction, from site development and framing to finishing and installation.

The company’s core offerings include lumber and lumber sheet goods, windows and doors, millwork, roofing and siding, and engineered wood products such as roof and floor trusses.