Builders FirstSource (NYSE:BLDR – Get Free Report) had its price objective increased by equities researchers at Barclays from $182.00 to $211.00 in a report released on Wednesday, Benzinga reports. The brokerage presently has an “overweight” rating on the stock. Barclays‘s price objective would indicate a potential upside of 10.10% from the stock’s current price.
Other analysts have also issued reports about the stock. Truist Financial raised shares of Builders FirstSource from a “hold” rating to a “buy” rating and increased their price target for the company from $165.00 to $220.00 in a research report on Monday, September 16th. Zelman & Associates reaffirmed a “hold” rating on shares of Builders FirstSource in a research note on Monday, June 17th. Baird R W raised shares of Builders FirstSource from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, August 7th. Wedbush reissued an “outperform” rating and issued a $175.00 price target on shares of Builders FirstSource in a research note on Tuesday, August 6th. Finally, Benchmark dropped their price target on shares of Builders FirstSource from $220.00 to $200.00 and set a “buy” rating on the stock in a research note on Wednesday, August 7th. Four research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $196.38.
Check Out Our Latest Analysis on BLDR
Builders FirstSource Price Performance
Builders FirstSource (NYSE:BLDR – Get Free Report) last posted its quarterly earnings data on Tuesday, August 6th. The company reported $3.50 earnings per share for the quarter, beating analysts’ consensus estimates of $3.02 by $0.48. The business had revenue of $4.46 billion for the quarter, compared to analysts’ expectations of $4.48 billion. Builders FirstSource had a net margin of 8.25% and a return on equity of 37.05%. The business’s revenue was down 1.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted $3.89 earnings per share. Sell-side analysts forecast that Builders FirstSource will post 11.68 EPS for the current fiscal year.
Builders FirstSource declared that its board has approved a share repurchase program on Tuesday, August 6th that permits the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization permits the company to repurchase up to 5.3% of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s board of directors believes its stock is undervalued.
Insider Activity at Builders FirstSource
In related news, Director Craig Arthur Steinke sold 30,000 shares of the firm’s stock in a transaction dated Thursday, August 8th. The stock was sold at an average price of $153.68, for a total transaction of $4,610,400.00. Following the sale, the director now directly owns 95,333 shares in the company, valued at approximately $14,650,775.44. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 1.80% of the company’s stock.
Institutional Inflows and Outflows
Several hedge funds have recently made changes to their positions in BLDR. Vanguard Group Inc. grew its position in shares of Builders FirstSource by 15.7% in the 4th quarter. Vanguard Group Inc. now owns 14,668,049 shares of the company’s stock worth $2,448,684,000 after acquiring an additional 1,985,297 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its holdings in shares of Builders FirstSource by 339.8% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 1,180,358 shares of the company’s stock worth $163,373,000 after purchasing an additional 911,990 shares during the last quarter. Bessemer Group Inc. lifted its holdings in shares of Builders FirstSource by 477,028.7% in the 1st quarter. Bessemer Group Inc. now owns 448,501 shares of the company’s stock worth $93,535,000 after purchasing an additional 448,407 shares during the last quarter. Clearbridge Investments LLC bought a new stake in shares of Builders FirstSource in the 2nd quarter worth approximately $49,000,000. Finally, Bank of New York Mellon Corp lifted its holdings in shares of Builders FirstSource by 22.7% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,062,488 shares of the company’s stock worth $147,059,000 after purchasing an additional 196,571 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.
See Also
- Five stocks we like better than Builders FirstSource
- Energy and Oil Stocks Explained
- MercadoLibre Targets Double-Digit Upside with Argentina Boom
- How Investors Can Identify and Successfully Trade Gap-Down Stocks
- Domino’s Pizza Stock Delivers: A Hot Buy for Growth Investors
- How to Calculate Options Profits
- 3 Small-Cap Stocks Ready to Deliver Significant Growth
Receive News & Ratings for Builders FirstSource Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Builders FirstSource and related companies with MarketBeat.com's FREE daily email newsletter.