Builders FirstSource Inc. (BLDR) Lifted to “Buy” at Zacks Investment Research
Builders FirstSource Inc. (NASDAQ:BLDR) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report released on Monday. The firm presently has a $12.00 target price on the stock. Zacks Investment Research’s price target indicates a potential upside of 12.99% from the company’s current price.
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. “
Several other analysts also recently commented on BLDR. Citigroup Inc. increased their target price on Builders FirstSource from $12.00 to $14.00 and gave the company a “neutral” rating in a research note on Monday, August 8th. Credit Suisse Group AG reissued a “hold” rating on shares of Builders FirstSource in a report on Tuesday, June 28th. Finally, Wedbush reissued an “outperform” rating and set a $18.00 price target on shares of Builders FirstSource in a report on Tuesday, September 6th. Two equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Builders FirstSource has a consensus rating of “Buy” and a consensus target price of $15.43.
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Shares of Builders FirstSource (NASDAQ:BLDR) traded down 2.30% during trading on Monday, hitting $10.62. The stock had a trading volume of 1,360,557 shares. Builders FirstSource has a 1-year low of $6.50 and a 1-year high of $15.72. The firm’s market capitalization is $1.17 billion. The stock’s 50-day moving average price is $12.16 and its 200 day moving average price is $11.99.
Builders FirstSource (NASDAQ:BLDR) last issued its earnings results on Thursday, August 4th. The company reported $0.31 EPS for the quarter, missing the consensus estimate of $0.36 by $0.05. Builders FirstSource had a negative net margin of 0.12% and a positive return on equity of 38.21%. The business had revenue of $1.70 billion for the quarter, compared to analysts’ expectations of $1.72 billion. During the same quarter in the prior year, the business posted $0.14 earnings per share. The business’s revenue for the quarter was up 263.4% on a year-over-year basis. On average, analysts anticipate that Builders FirstSource will post $0.80 earnings per share for the current year.
In other news, SVP Donald F. Mcaleenan sold 70,000 shares of the firm’s stock in a transaction dated Friday, August 19th. The stock was sold at an average price of $12.56, for a total transaction of $879,200.00. Following the completion of the transaction, the senior vice president now owns 373,238 shares in the company, valued at $4,687,869.28. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Floyd F. Sherman sold 235,753 shares of Builders FirstSource stock in a transaction dated Tuesday, August 16th. The stock was sold at an average price of $12.39, for a total value of $2,920,979.67. Following the completion of the transaction, the chief executive officer now owns 559,963 shares of the company’s stock, valued at approximately $6,937,941.57. The disclosure for this sale can be found here. Insiders own 36.20% of the company’s stock.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in BLDR. Fox Run Management L.L.C. bought a new position in Builders FirstSource during the third quarter valued at approximately $168,000. VNBTrust National Association raised its position in Builders FirstSource by 53.5% in the third quarter. VNBTrust National Association now owns 251,464 shares of the company’s stock valued at $2,895,000 after buying an additional 87,664 shares in the last quarter. Schwab Charles Investment Management Inc. raised its position in Builders FirstSource by 23.3% in the second quarter. Schwab Charles Investment Management Inc. now owns 280,749 shares of the company’s stock valued at $3,159,000 after buying an additional 53,032 shares in the last quarter. Legal & General Group Plc raised its position in Builders FirstSource by 39.5% in the second quarter. Legal & General Group Plc now owns 12,946 shares of the company’s stock valued at $142,000 after buying an additional 3,664 shares in the last quarter. Finally, Metropolitan Life Insurance Co. NY raised its position in Builders FirstSource by 81.6% in the second quarter. Metropolitan Life Insurance Co. NY now owns 60,775 shares of the company’s stock valued at $684,000 after buying an additional 27,308 shares in the last quarter. Institutional investors own 83.08% of the company’s stock.
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 and consumers. The Company’s operating segments include Northeast, Southeast, South and West. It offers solution to its customers providing manufacturing, supply and installation of a range of structural and related building products.
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