Builders FirstSource, Inc. (BLDR) Upgraded to “Hold” at Zacks Investment Research
Builders FirstSource, Inc. (NASDAQ:BLDR) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report issued on Monday.
According to Zacks, “Builders FirstSource is a leading supplier and manufacturer of structural and related building products for residential new construction in the United States. Manufacturing facilities include plants that manufacture roof and floor trusses, wall panels, stairs, aluminum and vinyl windows, custom millwork and pre-hung doors. Builders FirstSource also distributes windows, interior and exterior doors, dimensional lumber and lumber sheet goods, millwork and other building products. “
A number of other brokerages have also commented on BLDR. Citigroup Inc. raised their price objective on shares of Builders FirstSource from $18.00 to $20.00 and gave the stock a “neutral” rating in a report on Friday. SunTrust Banks, Inc. reiterated a “buy” rating and issued a $20.00 price target on shares of Builders FirstSource in a research note on Friday. Barclays PLC lifted 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. B. Riley lifted 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, Wedbush reiterated a “buy” rating and issued a $20.00 price target on shares of Builders FirstSource in a research note on Thursday, September 7th. One analyst has rated the stock with a sell rating, three have given a hold rating and six have given a buy rating to the company. Builders FirstSource has a consensus rating of “Buy” and a consensus price target of $19.50.
Shares of Builders FirstSource (NASDAQ:BLDR) traded up $0.10 during midday trading on Monday, hitting $18.46. 3,364,200 shares of the stock were exchanged, compared to its average volume of 1,196,832. Builders FirstSource has a 52 week low of $10.07 and a 52 week high of $18.82. The company has a current ratio of 1.86, a quick ratio of 1.06 and a debt-to-equity ratio of 4.46. The company has a market capitalization of $2,084.90, a PE ratio of 17.92 and a beta of 2.14.
Builders FirstSource (NASDAQ:BLDR) last issued its quarterly earnings data on Wednesday, November 8th. The company reported $0.39 EPS for the quarter, topping analysts’ consensus estimates of $0.37 by $0.02. Builders FirstSource had a net margin of 1.29% and a return on equity of 33.66%. The business had revenue of $1.88 billion for the quarter, compared to analyst estimates of $1.87 billion. During the same period last year, the business posted $0.61 earnings per share. The firm’s quarterly revenue was up 7.6% on a year-over-year basis. analysts forecast that Builders FirstSource will post 1.04 EPS for the current fiscal year.
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In other news, Director Cleveland A. Christophe sold 36,000 shares of Builders FirstSource stock in a transaction dated Monday, September 11th. The shares were sold at an average price of $16.66, for a total value of $599,760.00. Following the completion of the transaction, the director now owns 48,181 shares of the company’s stock, valued at approximately $802,695.46. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Floyd F. Sherman sold 109,536 shares of Builders FirstSource stock in a transaction dated Friday, September 8th. The stock was sold at an average price of $16.72, for a total transaction of $1,831,441.92. Following the sale, the chief executive officer now directly owns 773,171 shares of the company’s stock, valued at approximately $12,927,419.12. The disclosure for this sale can be found here. In the last three months, insiders sold 13,645,368 shares of company stock valued at $220,735,138. Insiders own 14.60% of the company’s stock.
Several hedge funds have recently made changes to their positions in the stock. Stifel Financial Corp boosted its holdings in shares of Builders FirstSource by 3.9% during the 3rd quarter. Stifel Financial Corp now owns 127,371 shares of the company’s stock worth $2,287,000 after buying an additional 4,738 shares during the period. OxFORD Asset Management LLP bought a new stake in shares of Builders FirstSource during the 3rd quarter worth about $2,481,000. Dimensional Fund Advisors LP boosted its holdings in shares of Builders FirstSource by 2.0% during the 3rd quarter. Dimensional Fund Advisors LP now owns 3,257,642 shares of the company’s stock worth $58,604,000 after buying an additional 63,672 shares during the period. Schwab Charles Investment Management Inc. boosted its holdings in shares of Builders FirstSource by 16.3% during the 3rd quarter. Schwab Charles Investment Management Inc. now owns 468,203 shares of the company’s stock worth $8,423,000 after buying an additional 65,531 shares during the period. Finally, Mckinley Capital Management LLC Delaware bought a new stake in shares of Builders FirstSource during the 3rd quarter worth about $2,506,000. 86.23% of the stock is owned by institutional investors and hedge funds.
Builders FirstSource Company Profile
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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