Builders FirstSource (NYSE:BLDR) Given New $85.00 Price Target at BMO Capital Markets

Builders FirstSource (NYSE:BLDR) had its price objective dropped by investment analysts at BMO Capital Markets from $93.00 to $85.00 in a research report issued on Tuesday,Benzinga reports. The firm currently has a “market perform” rating on the stock. BMO Capital Markets’ price objective would suggest a potential upside of 15.07% from the stock’s previous close.

BLDR has been the subject of a number of other reports. Bank of America reduced their price objective on shares of Builders FirstSource from $123.00 to $100.00 and set a “neutral” rating for the company in a research note on Monday, April 20th. Wells Fargo & Company lowered their target price on shares of Builders FirstSource from $87.00 to $85.00 and set an “equal weight” rating on the stock in a research note on Friday, May 1st. Barclays dropped their target price on shares of Builders FirstSource from $114.00 to $93.00 and set an “overweight” rating on the stock in a report on Friday, May 1st. UBS Group cut their target price on shares of Builders FirstSource from $143.00 to $122.00 and set a “buy” rating for the company in a research report on Friday, May 1st. Finally, Robert W. Baird decreased their price target on shares of Builders FirstSource from $125.00 to $95.00 in a report on Friday, May 1st. Nine investment analysts have rated the stock with a Buy rating, twelve have given a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $99.97.

Builders FirstSource Stock Up 1.6%

Shares of BLDR traded up $1.15 during trading hours on Tuesday, hitting $73.86. 625,639 shares of the company were exchanged, compared to its average volume of 2,416,835. The company has a debt-to-equity ratio of 1.15, a quick ratio of 1.09 and a current ratio of 1.76. The company has a market cap of $7.94 billion, a PE ratio of 28.32, a PEG ratio of 1.79 and a beta of 1.42. The firm’s 50 day moving average is $77.16 and its 200-day moving average is $90.95. Builders FirstSource has a 52 week low of $65.10 and a 52 week high of $151.03.

Builders FirstSource (NYSE:BLDR) last issued its quarterly earnings data on Thursday, April 30th. The company reported $0.27 earnings per share for the quarter, missing analysts’ consensus estimates of $0.39 by ($0.12). Builders FirstSource had a net margin of 1.97% and a return on equity of 14.89%. The company had revenue of $3.29 billion during the quarter, compared to the consensus estimate of $3.17 billion. During the same period in the previous year, the business posted $1.51 earnings per share. The firm’s revenue was down 10.1% on a year-over-year basis. On average, equities research analysts forecast that Builders FirstSource will post 4.16 EPS for the current fiscal year.

Builders FirstSource declared that its Board of Directors has approved a share repurchase program on Thursday, April 30th that allows the company to buyback $500.00 million in shares. This buyback authorization allows the company to repurchase up to 5.4% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s leadership believes its shares are undervalued.

Institutional Investors Weigh In On Builders FirstSource

Hedge funds and other institutional investors have recently modified their holdings of the stock. Cromwell Holdings LLC increased its position in Builders FirstSource by 1,323.5% during the fourth quarter. Cromwell Holdings LLC now owns 242 shares of the company’s stock worth $25,000 after acquiring an additional 225 shares during the period. Caitong International Asset Management Co. Ltd grew its position in Builders FirstSource by 167.1% in the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 211 shares of the company’s stock worth $26,000 after purchasing an additional 132 shares during the last quarter. Sunbelt Securities Inc. grew its position in Builders FirstSource by 508.5% in the 1st quarter. Sunbelt Securities Inc. now owns 359 shares of the company’s stock worth $30,000 after purchasing an additional 300 shares during the last quarter. Root Financial Partners LLC increased its holdings in shares of Builders FirstSource by 43.6% during the 1st quarter. Root Financial Partners LLC now owns 372 shares of the company’s stock worth $31,000 after purchasing an additional 113 shares during the period. Finally, Transamerica Financial Advisors LLC increased its holdings in shares of Builders FirstSource by 90.2% during the 4th quarter. Transamerica Financial Advisors LLC now owns 369 shares of the company’s stock worth $38,000 after purchasing an additional 175 shares during the period. Institutional investors and hedge funds own 95.53% of the company’s stock.

Builders FirstSource Company Profile

Builders FirstSource, Inc is a leading supplier of structural and value-added building products and services to professional contractors, homebuilders and remodelers. The company provides a comprehensive range of materials and prefabricated components that support all phases of residential construction, from site development and framing to finishing and installation.

The company’s core offerings include lumber and lumber sheet goods, windows and doors, millwork, roofing and siding, and engineered wood products such as roof and floor trusses.