BMO Capital Markets Issues Pessimistic Forecast for Builders FirstSource (NYSE:BLDR) Stock Price

Builders FirstSource (NYSE:BLDR) had its price target cut by investment analysts at BMO Capital Markets from $146.00 to $135.00 in a research report issued to clients and investors on Monday,Benzinga reports. The firm presently has a “market perform” rating on the stock. BMO Capital Markets’ price target indicates a potential upside of 25.83% from the company’s current price.

Several other analysts have also recently issued reports on BLDR. Barclays cut their target price on Builders FirstSource from $151.00 to $137.00 and set an “overweight” rating for the company in a research report on Friday, May 2nd. StockNews.com cut shares of Builders FirstSource from a “buy” rating to a “hold” rating in a research report on Monday, January 13th. Truist Financial dropped their target price on shares of Builders FirstSource from $220.00 to $180.00 and set a “buy” rating for the company in a research report on Friday, February 21st. Royal Bank of Canada decreased their price target on shares of Builders FirstSource from $162.00 to $132.00 and set an “outperform” rating on the stock in a research note on Friday, May 2nd. Finally, Loop Capital cut their price objective on Builders FirstSource from $190.00 to $170.00 and set a “buy” rating for the company in a research report on Monday, April 14th. Six analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $167.58.

Builders FirstSource Stock Down 4.1 %

BLDR stock opened at $107.29 on Monday. The business’s 50-day moving average price is $123.56 and its 200-day moving average price is $149.92. The stock has a market cap of $12.20 billion, a P/E ratio of 11.84, a PEG ratio of 0.80 and a beta of 1.79. The company has a quick ratio of 1.16, a current ratio of 1.77 and a debt-to-equity ratio of 0.86. Builders FirstSource has a twelve month low of $106.66 and a twelve month high of $203.14.

Builders FirstSource (NYSE:BLDR) last posted its quarterly earnings results on Thursday, May 1st. The company reported $1.51 earnings per share for the quarter, topping analysts’ consensus estimates of $1.50 by $0.01. The business had revenue of $3.66 billion during the quarter, compared to analyst estimates of $3.67 billion. Builders FirstSource had a net margin of 6.57% and a return on equity of 30.54%. The company’s revenue was down 6.0% on a year-over-year basis. During the same period in the prior year, the business posted $2.65 earnings per share. On average, equities research analysts forecast that Builders FirstSource will post 11.59 EPS for the current year.

Builders FirstSource announced that its Board of Directors has authorized a share repurchase plan on Thursday, May 1st that authorizes the company to buyback $500.00 million in shares. This buyback authorization authorizes the company to reacquire up to 3.9% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s board of directors believes its stock is undervalued.

Hedge Funds Weigh In On Builders FirstSource

A number of hedge funds have recently added to or reduced their stakes in BLDR. World Investment Advisors LLC purchased a new stake in shares of Builders FirstSource in the third quarter valued at approximately $349,000. B. Riley Wealth Advisors Inc. increased its stake in shares of Builders FirstSource by 18.1% during the third quarter. B. Riley Wealth Advisors Inc. now owns 3,270 shares of the company’s stock valued at $639,000 after buying an additional 500 shares during the period. Principal Financial Group Inc. raised its holdings in shares of Builders FirstSource by 38.5% in the third quarter. Principal Financial Group Inc. now owns 201,306 shares of the company’s stock valued at $39,025,000 after acquiring an additional 56,009 shares in the last quarter. GAMMA Investing LLC lifted its stake in Builders FirstSource by 9.2% in the fourth quarter. GAMMA Investing LLC now owns 1,157 shares of the company’s stock worth $165,000 after acquiring an additional 97 shares during the period. Finally, Everence Capital Management Inc. bought a new position in Builders FirstSource during the 4th quarter worth about $470,000. 95.53% of the stock is currently owned by institutional investors.

Builders FirstSource Company Profile

Builders FirstSource, Inc, together with its subsidiaries, manufactures and supplies building materials, manufactured components, and construction services to professional homebuilders, sub-contractors, remodelers, and consumers in the United States. It offers lumber and lumber sheet goods comprising dimensional lumber, plywood, and oriented strand board products that are used in on-site house framing; manufactured products, such as wood floor and roof trusses, floor trusses, wall panels, stairs, and engineered wood products; and windows, and interior and exterior door units, as well as interior trims and custom products comprising intricate mouldings, stair parts, and columns under the Synboard brand name.