Seaport Global Securities Reiterates “Buy” Rating for Builders FirstSource (BLDR)
Seaport Global Securities reissued their buy rating on shares of Builders FirstSource (NASDAQ:BLDR) in a research note issued to investors on Wednesday morning. They currently have a $26.00 price target on the stock.
Several other analysts also recently issued reports on the stock. Zacks Investment Research downgraded shares of Builders FirstSource from a hold rating to a sell rating in a research note on Monday, October 9th. B. Riley boosted their target price on shares of Builders FirstSource from $20.00 to $24.00 and gave the company a buy rating in a research note on Friday, November 10th. SunTrust Banks reissued a buy rating and set a $20.00 target price on shares of Builders FirstSource in a research note on Friday, November 10th. Barclays boosted their target price 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, November 10th. Finally, ValuEngine downgraded shares of Builders FirstSource from a strong-buy rating to a buy rating in a research note on Friday, December 1st. Three analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. The stock currently has a consensus rating of Buy and a consensus price target of $20.75.
Shares of Builders FirstSource (BLDR) traded up $0.43 during trading hours on Wednesday, reaching $22.78. 1,473,272 shares of the company’s stock traded hands, compared to its average volume of 1,293,211. The company has a debt-to-equity ratio of 4.46, a quick ratio of 1.06 and a current ratio of 1.86. Builders FirstSource has a 52 week low of $10.56 and a 52 week high of $22.78. The firm has a market cap of $2,572.80, a P/E ratio of 29.97 and a beta of 2.16.
In other news, CFO Peter M. Jackson sold 12,500 shares of the company’s stock in a transaction on Friday, December 8th. The shares were sold at an average price of $20.51, for a total value of $256,375.00. Following the transaction, the chief financial officer now directly owns 26,587 shares of the company’s stock, valued at $545,299.37. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Donald F. Mcaleenan sold 166,714 shares of the company’s stock in a transaction on Monday, November 13th. The stock was sold at an average price of $18.16, for a total transaction of $3,027,526.24. Following the completion of the sale, the senior vice president now owns 179,805 shares of the company’s stock, valued at $3,265,258.80. The disclosure for this sale can be found here. Insiders sold 377,598 shares of company stock worth $6,950,025 over the last ninety days. 14.60% of the stock is currently owned by company insiders.
A number of large investors have recently modified their holdings of BLDR. Eagle Asset Management Inc. boosted its holdings in Builders FirstSource by 30.9% in the third quarter. Eagle Asset Management Inc. now owns 4,224,149 shares of the company’s stock worth $74,936,000 after purchasing an additional 997,132 shares in the last quarter. Hodges Capital Management Inc. bought a new stake in Builders FirstSource in the third quarter worth $12,170,000. Impala Asset Management LLC bought a new stake in Builders FirstSource in the second quarter worth $9,498,000. BlackRock Inc. boosted its holdings in Builders FirstSource by 8.9% in the second quarter. BlackRock Inc. now owns 6,912,890 shares of the company’s stock worth $105,905,000 after purchasing an additional 563,694 shares in the last quarter. Finally, Formula Growth Ltd. boosted its holdings in Builders FirstSource by 41.9% in the second quarter. Formula Growth Ltd. now owns 1,633,585 shares of the company’s stock worth $25,027,000 after purchasing an additional 482,228 shares in the last quarter. Hedge funds and other institutional investors own 94.48% of the company’s stock.
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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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