Builders FirstSource, Inc. (BLDR) Given “Buy” Rating at Wedbush
Builders FirstSource, Inc. (NASDAQ:BLDR)‘s stock had its “buy” rating reaffirmed by stock analysts at Wedbush in a research report issued to clients and investors on Thursday. They presently have a $20.00 price target on the stock. Wedbush’s target price would indicate a potential upside of 19.40% from the stock’s previous close.
A number of other equities research analysts also recently weighed in on the stock. Zacks Investment Research downgraded shares of Builders FirstSource from a “buy” rating to a “hold” rating in a research note on Thursday, May 11th. BidaskClub raised shares of Builders FirstSource from a “hold” rating to a “buy” rating in a research note on Wednesday, July 19th. Citigroup Inc. raised their target price 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. FBR & Co reaffirmed a “buy” rating and issued a $20.00 target price on shares of Builders FirstSource in a research note on Tuesday, June 27th. Finally, Deutsche Bank AG raised their target price on shares of Builders FirstSource from $17.00 to $19.00 and gave the company a “buy” rating in a research note on Wednesday, August 9th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and four have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $17.29.
Shares of Builders FirstSource (NASDAQ BLDR) traded down 0.36% on Thursday, reaching $16.71. The company had a trading volume of 7,036,944 shares. The firm has a market capitalization of $1.88 billion, a P/E ratio of 11.06 and a beta of 2.11. The company’s 50-day moving average price is $15.88 and its 200 day moving average price is $15.13. Builders FirstSource has a 52 week low of $9.04 and a 52 week high of $17.22.
Builders FirstSource (NASDAQ:BLDR) last released its quarterly earnings data on Thursday, August 3rd. The company reported $0.37 EPS for the quarter, beating analysts’ consensus estimates of $0.34 by $0.03. The company had revenue of $1.84 billion during the quarter, compared to analyst estimates of $1.83 billion. Builders FirstSource had a net margin of 2.60% and a return on equity of 43.83%. Builders FirstSource’s revenue was up 9.9% compared to the same quarter last year. During the same period last year, the business earned $0.31 earnings per share. On average, analysts expect that Builders FirstSource will post $1.12 EPS for the current year.
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In related news, CEO Floyd F. Sherman sold 35,000 shares of the firm’s stock in a transaction that occurred on Friday, June 9th. The shares were sold at an average price of $14.91, for a total value of $521,850.00. Following the sale, the chief executive officer now directly owns 633,635 shares of the company’s stock, valued at $9,447,497.85. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 14.60% of the company’s stock.
A number of institutional investors and hedge funds have recently made changes to their positions in BLDR. Mesirow Financial Investment Management Inc. purchased a new position in shares of Builders FirstSource during the second quarter worth approximately $465,000. 1st Global Advisors Inc. raised its stake in shares of Builders FirstSource by 1.0% during the second quarter. 1st Global Advisors Inc. now owns 13,694 shares of the company’s stock worth $210,000 after acquiring an additional 137 shares in the last quarter. Schneider Capital Management Corp raised its stake in shares of Builders FirstSource by 3.7% during the second quarter. Schneider Capital Management Corp now owns 280,661 shares of the company’s stock worth $4,300,000 after acquiring an additional 10,000 shares in the last quarter. Ameritas Investment Partners Inc. raised its stake in shares of Builders FirstSource by 17.3% during the second quarter. Ameritas Investment Partners Inc. now owns 8,495 shares of the company’s stock worth $130,000 after acquiring an additional 1,253 shares in the last quarter. Finally, Castleark Management LLC raised its stake in shares of Builders FirstSource by 6.9% during the second quarter. Castleark Management LLC now owns 611,367 shares of the company’s stock worth $9,366,000 after acquiring an additional 39,687 shares in the last quarter. 85.48% of the stock is currently owned by institutional investors and hedge funds.
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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