Builders FirstSource’s (BLDR) Outperform Rating Reaffirmed at Wedbush

Wedbush restated their outperform rating on shares of Builders FirstSource (NASDAQ:BLDR) in a research note released on Thursday. The firm currently has a $20.00 target price on the stock.

Other equities analysts have also issued reports about the company. TheStreet raised Builders FirstSource from a c+ rating to a b rating in a research report on Wednesday, August 15th. Deutsche Bank cut their target price on Builders FirstSource from $25.00 to $23.00 and set a buy rating on the stock in a research report on Monday, August 20th. Stifel Nicolaus reaffirmed a buy rating and issued a $25.00 target price (down from $28.00) on shares of Builders FirstSource in a research report on Thursday, August 9th. Stephens set a $21.00 target price on Builders FirstSource and gave the company a buy rating in a research report on Monday, August 6th. Finally, DA Davidson initiated coverage on Builders FirstSource in a research report on Thursday, September 13th. They issued a buy rating and a $20.00 target price on the stock. Two research analysts have rated the stock with a sell rating, five have given a hold rating and seven have given a buy rating to the stock. The company has an average rating of Hold and an average target price of $19.18.

NASDAQ BLDR opened at $13.53 on Thursday. The company has a market capitalization of $1.55 billion, a price-to-earnings ratio of 10.65, a P/E/G ratio of 1.44 and a beta of 1.93. Builders FirstSource has a fifty-two week low of $11.60 and a fifty-two week high of $23.28. The company has a debt-to-equity ratio of 3.39, a current ratio of 2.09 and a quick ratio of 1.21.

Builders FirstSource (NASDAQ:BLDR) last announced its earnings results on Thursday, November 1st. The company reported $0.67 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.59 by $0.08. Builders FirstSource had a return on equity of 48.32% and a net margin of 1.44%. The company had revenue of $2.12 billion for the quarter, compared to analyst estimates of $2.08 billion. During the same period in the prior year, the company posted $0.39 EPS. Builders FirstSource’s quarterly revenue was up 12.7% on a year-over-year basis. As a group, sell-side analysts forecast that Builders FirstSource will post 1.88 earnings per share for the current fiscal year.

In other news, Director Paul S. Levy purchased 100,000 shares of the company’s stock in a transaction that occurred on Thursday, September 6th. The shares were acquired at an average cost of $15.98 per share, with a total value of $1,598,000.00. Following the transaction, the director now owns 1,117,984 shares in the company, valued at approximately $17,865,384.32. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Floyd F. Sherman sold 196,512 shares of the company’s stock in a transaction that occurred on Tuesday, November 6th. The shares were sold at an average price of $13.78, for a total value of $2,707,935.36. Following the sale, the director now directly owns 478,346 shares in the company, valued at $6,591,607.88. The disclosure for this sale can be found here. Corporate insiders own 2.30% of the company’s stock.

Hedge funds have recently bought and sold shares of the stock. NumerixS Investment Technologies Inc raised its position in shares of Builders FirstSource by 229.8% during the 2nd quarter. NumerixS Investment Technologies Inc now owns 5,600 shares of the company’s stock valued at $101,000 after acquiring an additional 3,902 shares in the last quarter. Rehmann Capital Advisory Group raised its position in shares of Builders FirstSource by 1,143.6% during the 3rd quarter. Rehmann Capital Advisory Group now owns 7,897 shares of the company’s stock valued at $538,000 after acquiring an additional 7,262 shares in the last quarter. Royal Bank of Canada raised its position in shares of Builders FirstSource by 140.2% during the 1st quarter. Royal Bank of Canada now owns 10,965 shares of the company’s stock valued at $218,000 after acquiring an additional 6,401 shares in the last quarter. Engineers Gate Manager LP acquired a new stake in shares of Builders FirstSource during the 3rd quarter valued at approximately $194,000. Finally, Cornerstone Wealth Management LLC acquired a new stake in shares of Builders FirstSource during the 2nd quarter valued at approximately $738,000. 90.57% of the stock is currently owned by institutional investors and hedge funds.

About Builders FirstSource

Builders FirstSource, Inc manufactures and supplies building materials, manufactured components, and construction services to professional homebuilders, sub-contractors, remodelers, and consumers in the United States. The company operates through four segments: Northeast, Southeast, South, and West. Its products include lumber and lumber sheet goods comprising dimensional lumber, plywood, and OSB products that are used in on-site house framing; and windows, and interior and exterior door units, as well as interior trims and custom products under the Synboard brand.

Further Reading: Buyback

Analyst Recommendations for Builders FirstSource (NASDAQ:BLDR)

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