Builders FirstSource (BLDR) Cut to “Sector Perform” at Royal Bank of Canada

Royal Bank of Canada cut shares of Builders FirstSource (NASDAQ:BLDR) from an outperform rating to a sector perform rating in a report published on Friday morning, Marketbeat.com reports. They currently have $13.00 price objective on the stock, down from their previous price objective of $18.00.

A number of other research firms have also recently commented on BLDR. Evercore ISI cut shares of Builders FirstSource from an in-line rating to an underperform rating and set a $14.00 price target for the company. in a research note on Monday, November 5th. DA Davidson initiated coverage on shares of Builders FirstSource in a research note on Thursday, September 13th. They issued a buy rating and a $20.00 price target for the company. Zacks Investment Research cut shares of Builders FirstSource from a hold rating to a strong sell rating in a research note on Thursday, January 3rd. Deutsche Bank cut shares of Builders FirstSource from a buy rating to a hold rating and cut their price target for the stock from $19.00 to $15.00 in a research note on Tuesday, December 4th. Finally, Stephens cut shares of Builders FirstSource from an overweight rating to an equal rating and set a $19.00 price target for the company. in a research note on Thursday, October 18th. Three analysts have rated the stock with a sell rating, seven have issued a hold rating and three have assigned a buy rating to the company’s stock. The company currently has an average rating of Hold and an average target price of $16.82.

BLDR stock opened at $12.42 on Friday. 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 has a one year low of $10.15 and a one year high of $23.28. The company has a market capitalization of $1.48 billion, a price-to-earnings ratio of 9.78, a P/E/G ratio of 1.45 and a beta of 2.03.

Builders FirstSource (NASDAQ:BLDR) last released its quarterly earnings results on Thursday, November 1st. The company reported $0.67 EPS for the quarter, topping the Zacks’ consensus estimate of $0.59 by $0.08. Builders FirstSource had a net margin of 1.44% and a return on equity of 48.32%. The business had revenue of $2.12 billion during the quarter, compared to analysts’ expectations of $2.08 billion. During the same quarter in the previous year, the company earned $0.39 EPS. The business’s quarterly revenue was up 12.7% compared to the same quarter last year. As a group, equities research analysts forecast that Builders FirstSource will post 1.87 earnings per share for the current fiscal year.

In other news, Director Floyd F. Sherman sold 196,512 shares of the company’s stock in a transaction 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 completion of the sale, the director now owns 478,346 shares of the company’s stock, valued at approximately $6,591,607.88. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO David E. Rush acquired 4,000 shares of the business’s stock in a transaction dated Monday, December 10th. The stock was acquired at an average cost of $11.73 per share, with a total value of $46,920.00. Following the purchase, the chief operating officer now directly owns 30,390 shares in the company, valued at approximately $356,474.70. The disclosure for this purchase can be found here. 2.30% of the stock is currently owned by corporate insiders.

Several institutional investors have recently made changes to their positions in the company. BlackRock Inc. boosted its stake in shares of Builders FirstSource by 7.3% in the 2nd quarter. BlackRock Inc. now owns 8,631,344 shares of the company’s stock valued at $157,869,000 after purchasing an additional 585,206 shares in the last quarter. Stadium Capital Management LLC boosted its stake in shares of Builders FirstSource by 38.5% in the 3rd quarter. Stadium Capital Management LLC now owns 4,677,724 shares of the company’s stock valued at $68,669,000 after purchasing an additional 1,301,269 shares in the last quarter. Fuller & Thaler Asset Management Inc. boosted its stake in shares of Builders FirstSource by 511.1% in the 3rd quarter. Fuller & Thaler Asset Management Inc. now owns 3,443,323 shares of the company’s stock valued at $50,548,000 after purchasing an additional 2,879,817 shares in the last quarter. Raging Capital Management LLC boosted its stake in shares of Builders FirstSource by 111.9% in the 3rd quarter. Raging Capital Management LLC now owns 3,112,937 shares of the company’s stock valued at $45,698,000 after purchasing an additional 1,643,836 shares in the last quarter. Finally, Robotti Robert boosted its stake in shares of Builders FirstSource by 0.4% in the 3rd quarter. Robotti Robert now owns 2,075,205 shares of the company’s stock valued at $30,464,000 after purchasing an additional 8,605 shares in the last quarter. 93.61% of the stock is owned by institutional investors.

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.

See Also: Certificate of Deposit (CD)

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