Oppenheimer Issues Pessimistic Forecast for Builders FirstSource (NYSE:BLDR) Stock Price

Builders FirstSource (NYSE:BLDR) had its target price reduced by Oppenheimer from $121.00 to $110.00 in a research note issued on Thursday, Marketbeat.com reports. The brokerage currently has an “outperform” rating on the stock. Oppenheimer’s price target would indicate a potential upside of 50.90% from the company’s previous close.

Other analysts also recently issued reports about the company. Jefferies Financial Group cut their target price on Builders FirstSource from $85.00 to $80.00 and set a “hold” rating for the company in a research note on Monday, May 4th. Loop Capital dropped their price objective on shares of Builders FirstSource from $140.00 to $110.00 in a report on Friday, May 1st. Raymond James Financial cut their price objective on shares of Builders FirstSource from $140.00 to $100.00 in a research report on Friday, May 1st. Benchmark reduced their target price on shares of Builders FirstSource from $105.00 to $100.00 and set a “buy” rating on the stock in a research note on Thursday. Finally, Bank of America decreased their target price on shares of Builders FirstSource from $123.00 to $100.00 and set a “neutral” rating on the stock in a report on Monday, April 20th. Nine equities research analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $100.35.

Builders FirstSource Price Performance

BLDR stock opened at $72.89 on Thursday. The company has a debt-to-equity ratio of 1.15, a current ratio of 1.76 and a quick ratio of 1.09. The business has a 50 day simple moving average of $77.11 and a 200-day simple moving average of $91.34. The firm has a market capitalization of $7.84 billion, a PE ratio of 27.93, a price-to-earnings-growth ratio of 1.68 and a beta of 1.42. Builders FirstSource has a 1 year low of $65.10 and a 1 year high of $151.03.

Builders FirstSource (NYSE:BLDR) last posted its quarterly earnings results on Thursday, April 30th. The company reported $0.27 EPS for the quarter, missing the consensus estimate of $0.39 by ($0.12). The company had revenue of $3.29 billion during the quarter, compared to analyst estimates of $3.17 billion. Builders FirstSource had a net margin of 1.97% and a return on equity of 14.89%. Builders FirstSource’s revenue for the quarter was down 10.1% compared to the same quarter last year. During the same period in the prior year, the business posted $1.51 EPS. Equities research analysts anticipate that Builders FirstSource will post 4.29 earnings per share for the current fiscal year.

Builders FirstSource declared that its board has authorized a share repurchase program on Thursday, April 30th that allows the company to buyback $500.00 million in shares. This buyback authorization allows the company to purchase up to 5.4% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s management believes its stock is undervalued.

Institutional Trading of Builders FirstSource

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Schwartz Investment Counsel Inc. lifted its holdings in shares of Builders FirstSource by 17.1% in the 4th quarter. Schwartz Investment Counsel Inc. now owns 95,800 shares of the company’s stock worth $9,857,000 after acquiring an additional 14,000 shares during the last quarter. Eagle Global Advisors LLC increased its holdings in Builders FirstSource by 46.3% in the 4th quarter. Eagle Global Advisors LLC now owns 60,242 shares of the company’s stock valued at $6,198,000 after purchasing an additional 19,062 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. raised its position in Builders FirstSource by 10.3% in the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 238,867 shares of the company’s stock valued at $24,993,000 after purchasing an additional 22,270 shares during the period. Diamond Hill Capital Management Inc. raised its position in Builders FirstSource by 13.4% in the fourth quarter. Diamond Hill Capital Management Inc. now owns 1,872,708 shares of the company’s stock valued at $192,683,000 after purchasing an additional 221,641 shares during the period. Finally, Northwestern Mutual Wealth Management Co. lifted its stake in Builders FirstSource by 99,084.1% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 2,241,561 shares of the company’s stock worth $230,634,000 after purchasing an additional 2,239,301 shares in the last quarter. 95.53% of the stock is currently owned by hedge funds and other institutional investors.

Builders FirstSource Company Profile

Builders FirstSource, Inc is a leading supplier of structural and value-added building products and services to professional contractors, homebuilders and remodelers. The company provides a comprehensive range of materials and prefabricated components that support all phases of residential construction, from site development and framing to finishing and installation.

The company’s core offerings include lumber and lumber sheet goods, windows and doors, millwork, roofing and siding, and engineered wood products such as roof and floor trusses.