Builders FirstSource Inc. (BLDR) Raised 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 research note issued to investors on Monday. The brokerage currently has a $12.00 target price on the stock. Zacks Investment Research’s price target points to 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 research analysts also recently issued reports on the company. Wedbush reaffirmed an “outperform” rating and set a $18.00 price target on shares of Builders FirstSource in a research note on Tuesday, September 6th. Citigroup Inc. boosted their target price on shares of Builders FirstSource from $12.00 to $14.00 and gave the company a “neutral” rating in a research note on Monday, August 8th. Finally, Credit Suisse Group AG reissued a “hold” rating on shares of Builders FirstSource in a research note on Tuesday, June 28th. Two research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus price target of $15.43.
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Shares of Builders FirstSource (NASDAQ:BLDR) traded down 2.30% during mid-day trading on Monday, hitting $10.62. 1,360,557 shares of the stock traded hands. Builders FirstSource has a one year low of $6.50 and a one year high of $15.72. The stock has a 50 day moving average price of $12.16 and a 200-day moving average price of $11.99. The company’s market cap is $1.17 billion.
Builders FirstSource (NASDAQ:BLDR) last released its quarterly earnings results on Thursday, August 4th. The company reported $0.31 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.36 by $0.05. The firm had revenue of $1.70 billion for the quarter, compared to analyst estimates of $1.72 billion. Builders FirstSource had a positive return on equity of 38.21% and a negative net margin of 0.12%. The company’s quarterly revenue was up 263.4% compared to the same quarter last year. During the same period last year, the firm earned $0.14 EPS. On average, analysts forecast that Builders FirstSource will post $0.80 earnings per share for the current fiscal year.
In other Builders FirstSource news, 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 sale, the chief executive officer now owns 559,963 shares in the company, valued at approximately $6,937,941.57. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Morris E. Tolly sold 50,000 shares of Builders FirstSource stock in a transaction dated Wednesday, August 17th. The shares were sold at an average price of $12.43, for a total value of $621,500.00. Following the completion of the sale, the insider now owns 216,890 shares of the company’s stock, valued at approximately $2,695,942.70. The disclosure for this sale can be found here. 36.20% of the stock is owned by company insiders.
Hedge funds have recently bought and sold shares of the stock. ProShare Advisors LLC acquired a new stake in Builders FirstSource during the second quarter valued at approximately $122,000. BB&T Securities LLC acquired a new stake in Builders FirstSource during the second quarter valued at approximately $127,000. BlackRock Inc. boosted its stake in Builders FirstSource by 193.3% in the second quarter. BlackRock Inc. now owns 11,392 shares of the company’s stock valued at $128,000 after buying an additional 7,508 shares during the period. Teacher Retirement System of Texas boosted its stake in shares of Builders FirstSource by 35.5% in the second quarter. Teacher Retirement System of Texas now owns 12,319 shares of the company’s stock worth $139,000 after buying an additional 3,226 shares during the last quarter. Finally, Legal & General Group Plc boosted its stake in shares of Builders FirstSource by 39.5% in the second quarter. Legal & General Group Plc now owns 12,946 shares of the company’s stock worth $142,000 after buying an additional 3,664 shares during 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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