SunTrust Banks, Inc. Reiterates Buy Rating for Builders FirstSource, Inc. (BLDR)
Builders FirstSource, Inc. (NASDAQ:BLDR)‘s stock had its “buy” rating reiterated by equities researchers at SunTrust Banks, Inc. in a research note issued to investors on Friday. They currently have a $20.00 price objective on the stock. SunTrust Banks, Inc.’s price objective suggests a potential upside of 8.34% from the stock’s previous close. SunTrust Banks also issued estimates for Builders FirstSource’s Q4 2017 earnings at $0.19 EPS, FY2017 earnings at $1.06 EPS, Q1 2018 earnings at $0.15 EPS, Q2 2018 earnings at $0.48 EPS, Q3 2018 earnings at $0.59 EPS, Q4 2018 earnings at $0.31 EPS and FY2018 earnings at $1.53 EPS.
Other equities research analysts also recently issued reports about the stock. BidaskClub upgraded shares of Builders FirstSource from a “hold” rating to a “buy” rating in a research note on Wednesday, July 19th. Wedbush restated a “buy” rating and issued a $20.00 price target on shares of Builders FirstSource in a research note on Thursday, September 7th. Deutsche Bank AG raised their price target on shares of Builders FirstSource from $17.00 to $19.00 and gave the company a “buy” rating in a research note on Wednesday, August 9th. B. Riley raised their price target on shares of Builders FirstSource from $20.00 to $24.00 and gave the company a “buy” rating in a research note on Friday. Finally, Barclays PLC raised their price target on shares of Builders FirstSource from $15.00 to $17.00 and gave the company an “equal weight” rating in a research note on Friday. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and six have issued a buy rating to the stock. Builders FirstSource presently has a consensus rating of “Hold” and a consensus price target of $19.50.
Shares of Builders FirstSource (NASDAQ:BLDR) traded up $0.10 during trading on Friday, reaching $18.46. 3,364,200 shares of the company’s stock were exchanged, compared to its average volume of 1,196,832. The firm has a market capitalization of $2,074.17, a P/E ratio of 17.83 and a beta of 2.14. The company has a debt-to-equity ratio of 5.14, a current ratio of 1.80 and a quick ratio of 1.01. Builders FirstSource has a 12-month low of $10.07 and a 12-month high of $18.82.
Builders FirstSource (NASDAQ:BLDR) last posted 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. Builders FirstSource had a net margin of 1.29% and a return on equity of 35.63%. The company had revenue of $1.88 billion for the quarter, compared to the consensus estimate of $1.87 billion. During the same period last year, the company posted $0.61 EPS. The firm’s quarterly revenue was up 7.6% compared to the same quarter last year. research analysts forecast that Builders FirstSource will post 1.09 earnings per share for the current year.
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In other Builders FirstSource news, Director Cleveland A. Christophe sold 36,000 shares of the firm’s stock in a transaction that occurred on Monday, September 11th. The shares were sold at an average price of $16.66, for a total transaction of $599,760.00. Following the completion of the transaction, the director now owns 48,181 shares in the company, valued at approximately $802,695.46. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, major shareholder Jll Partners Fund V. Lp sold 13,482,177 shares of the firm’s stock in a transaction that occurred on Wednesday, September 6th. The stock was sold at an average price of $16.17, for a total transaction of $218,006,802.09. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 13,645,368 shares of company stock valued at $220,735,138. Company insiders own 14.60% of the company’s stock.
A number of institutional investors have recently added to or reduced their stakes in the business. SG Americas Securities LLC bought a new stake in shares of Builders FirstSource in the 2nd quarter valued at $114,000. Victory Capital Management Inc. bought a new stake in shares of Builders FirstSource in the 3rd quarter valued at $147,000. Ameritas Investment Partners Inc. increased its stake 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 acquiring an additional 1,253 shares in the last quarter. PNC Financial Services Group Inc. increased its stake in shares of Builders FirstSource by 10,237.3% in the 2nd quarter. PNC Financial Services Group Inc. now owns 8,580 shares of the company’s stock valued at $131,000 after acquiring an additional 8,497 shares in the last quarter. Finally, Wilen Investment Management CORP. bought a new stake in shares of Builders FirstSource in the 2nd quarter valued at $150,000. Hedge funds and other institutional investors own 84.92% of the company’s stock.
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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