Wedbush Has Lowered Expectations for Builders FirstSource (NYSE:BLDR) Stock Price

Builders FirstSource (NYSE:BLDR) had its price objective decreased by equities research analysts at Wedbush from $190.00 to $145.00 in a report released on Friday,Benzinga reports. The brokerage currently has an “outperform” rating on the stock. Wedbush’s target price would indicate a potential upside of 26.31% from the stock’s current price.

Several other research firms also recently weighed in on BLDR. Robert W. Baird set a $130.00 target price on shares of Builders FirstSource in a research report on Friday, May 2nd. Raymond James Financial reiterated an “outperform” rating and issued a $140.00 price target (down from $170.00) on shares of Builders FirstSource in a research note on Friday, May 2nd. Loop Capital lowered their price objective on Builders FirstSource from $190.00 to $170.00 and set a “buy” rating for the company in a report on Monday, April 14th. Stephens cut their price objective on Builders FirstSource from $145.00 to $140.00 and set an “overweight” rating on the stock in a research note on Friday, May 2nd. Finally, Benchmark reduced their target price on Builders FirstSource from $200.00 to $170.00 and set a “buy” rating on the stock in a report on Friday, February 21st. Five research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $163.11.

Builders FirstSource Price Performance

BLDR stock opened at $114.80 on Friday. The company has a quick ratio of 1.07, a current ratio of 1.82 and a debt-to-equity ratio of 1.02. Builders FirstSource has a 52-week low of $102.60 and a 52-week high of $203.14. The stock’s 50 day moving average is $113.64 and its two-hundred day moving average is $134.44. The company has a market capitalization of $12.69 billion, a PE ratio of 14.72, a P/E/G ratio of 7.31 and a beta of 1.69.

Builders FirstSource (NYSE:BLDR) last released 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 the consensus estimate of $3.67 billion. Builders FirstSource had a net margin of 5.66% and a return on equity of 28.02%. The business’s quarterly revenue was down 6.0% compared to the same quarter last year. During the same quarter last year, the company earned $2.65 earnings per share. Analysts predict that Builders FirstSource will post 11.59 earnings per share for the current fiscal year.

Builders FirstSource announced that its Board of Directors has authorized a stock buyback plan on Thursday, May 1st that permits the company to repurchase $500.00 million in outstanding shares. This repurchase authorization permits the company to purchase up to 3.9% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s leadership believes its stock is undervalued.

Insider Buying and Selling at Builders FirstSource

In other Builders FirstSource news, Director Paul S. Levy bought 283,517 shares of the stock in a transaction that occurred on Thursday, May 8th. The shares were purchased at an average cost of $111.21 per share, for a total transaction of $31,529,925.57. Following the transaction, the director now directly owns 1,672,687 shares in the company, valued at $186,019,521.27. The trade was a 20.41% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Dirkson R. Charles purchased 5,000 shares of Builders FirstSource stock in a transaction on Tuesday, May 27th. The shares were acquired at an average price of $109.67 per share, with a total value of $548,350.00. Following the transaction, the director now directly owns 5,000 shares in the company, valued at $548,350. This trade represents a ∞ increase in their position. The disclosure for this purchase can be found here. Insiders bought 505,000 shares of company stock valued at $56,032,120 in the last ninety days. Company insiders own 2.00% of the company’s stock.

Institutional Investors Weigh In On Builders FirstSource

Several institutional investors have recently bought and sold shares of BLDR. Smartleaf Asset Management LLC lifted its position in Builders FirstSource by 34.9% in the fourth quarter. Smartleaf Asset Management LLC now owns 518 shares of the company’s stock worth $74,000 after purchasing an additional 134 shares during the period. Fisher Asset Management LLC raised its stake in shares of Builders FirstSource by 14.9% in the 4th quarter. Fisher Asset Management LLC now owns 196,491 shares of the company’s stock worth $28,084,000 after buying an additional 25,535 shares in the last quarter. Benjamin Edwards Inc. lifted its holdings in shares of Builders FirstSource by 36.1% in the fourth quarter. Benjamin Edwards Inc. now owns 11,188 shares of the company’s stock valued at $1,599,000 after buying an additional 2,967 shares during the period. Capital Investment Advisors LLC lifted its holdings in shares of Builders FirstSource by 22.8% in the first quarter. Capital Investment Advisors LLC now owns 12,882 shares of the company’s stock valued at $1,609,000 after buying an additional 2,390 shares during the period. Finally, LPL Financial LLC boosted its stake in Builders FirstSource by 12.6% during the fourth quarter. LPL Financial LLC now owns 287,571 shares of the company’s stock valued at $41,103,000 after buying an additional 32,121 shares in the last quarter. Institutional investors and hedge funds own 95.53% of the company’s stock.

About Builders FirstSource

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.