Builders FirstSource, Inc. (NASDAQ:BLDR) Downgraded to “Sell” at Zacks Investment Research
Builders FirstSource, Inc. (NASDAQ:BLDR) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued to investors on Wednesday.
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 research firms also recently commented on BLDR. FBR & Co reaffirmed a “buy” rating and set a $20.00 price objective on shares of Builders FirstSource in a research note on Tuesday, June 27th. Citigroup Inc. upped their price objective on shares of Builders FirstSource from $14.00 to $17.00 and gave the company a “neutral” rating in a research note on Thursday, May 11th. BidaskClub upgraded Builders FirstSource from a “sell” rating to a “hold” rating in a report on Saturday, June 10th. Finally, Wedbush reiterated an “outperform” rating and set a $20.00 target price (up previously from $19.00) on shares of Builders FirstSource in a report on Wednesday, May 17th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and three have issued a buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $17.00.
Shares of Builders FirstSource (NASDAQ BLDR) traded up 0.83% during midday trading on Wednesday, hitting $15.82. 518,709 shares of the company were exchanged. The company has a 50-day moving average price of $14.54 and a 200-day moving average price of $13.68. Builders FirstSource has a 52-week low of $9.04 and a 52-week high of $16.50. The stock has a market capitalization of $1.78 billion, a price-to-earnings ratio of 11.06 and a beta of 2.15.
Builders FirstSource (NASDAQ:BLDR) last announced its earnings results on Monday, May 8th. The company reported $0.11 earnings per share for the quarter, beating the consensus estimate of $0.05 by $0.06. Builders FirstSource had a net margin of 2.54% and a return on equity of 48.88%. The firm had revenue of $1.53 billion during the quarter, compared to the consensus estimate of $1.49 billion. During the same quarter in the previous year, the company posted ($0.13) EPS. The firm’s revenue for the quarter was up 9.7% on a year-over-year basis. On average, analysts forecast that Builders FirstSource will post $1.09 EPS for the current year.
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In other Builders FirstSource news, CEO Floyd F. Sherman sold 35,000 shares of the company’s stock in a transaction that occurred on Friday, June 9th. The stock was sold at an average price of $14.91, for a total value of $521,850.00. Following the completion of the transaction, the chief executive officer now owns 633,635 shares in the company, valued at approximately $9,447,497.85. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Morris E. Tolly sold 50,268 shares of the company’s stock in a transaction that occurred on Thursday, May 11th. The stock was sold at an average price of $14.81, for a total value of $744,469.08. Following the completion of the transaction, the insider now owns 126,205 shares of the company’s stock, valued at approximately $1,869,096.05. The disclosure for this sale can be found here. 14.60% of the stock is owned by corporate insiders.
Institutional investors have recently added to or reduced their stakes in the company. Ameritas Investment Partners Inc. bought a new position in Builders FirstSource during the first quarter worth $108,000. Invictus RG bought a new position in Builders FirstSource during the first quarter worth $140,000. Envestnet Asset Management Inc. boosted its position in Builders FirstSource by 68.3% in the first quarter. Envestnet Asset Management Inc. now owns 9,511 shares of the company’s stock worth $143,000 after buying an additional 3,861 shares in the last quarter. Nine Chapters Capital Management LLC bought a new position in Builders FirstSource during the first quarter worth $150,000. Finally, Gargoyle Investment Advisor L.L.C. bought a new position in Builders FirstSource during the first quarter worth $177,000. Hedge funds and other institutional investors own 84.26% of the company’s stock.
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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