Stifel Nicolaus Lowers Builders FirstSource (NYSE:BLDR) Price Target to $70.00

Builders FirstSource (NYSE:BLDR) had its price target dropped by Stifel Nicolaus from $76.00 to $70.00 in a report issued on Thursday, MarketBeat.com reports. The firm presently has a “hold” rating on the stock. Stifel Nicolaus’ price target indicates a potential downside of 3.97% from the company’s current price.

Several other research firms also recently weighed in on BLDR. Barclays decreased their price target on shares of Builders FirstSource from $114.00 to $93.00 and set an “overweight” rating on the stock in a research note on Friday, May 1st. Wells Fargo & Company lowered their price objective on Builders FirstSource from $87.00 to $85.00 and set an “equal weight” rating on the stock in a research note on Friday, May 1st. Robert W. Baird dropped their target price on Builders FirstSource from $125.00 to $95.00 in a report on Friday, May 1st. Raymond James Financial dropped their target price on Builders FirstSource from $140.00 to $100.00 in a report on Friday, May 1st. Finally, BMO Capital Markets cut their price objective on shares of Builders FirstSource from $100.00 to $93.00 and set a “market perform” rating for the company in a research report on Monday, May 4th. Nine analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat, Builders FirstSource presently has a consensus rating of “Hold” and an average target price of $100.35.

Builders FirstSource Stock Up 3.3%

BLDR stock opened at $72.89 on Thursday. Builders FirstSource has a 52 week low of $65.10 and a 52 week high of $151.03. The firm has a 50-day simple moving average of $77.11 and a 200-day simple moving average of $91.34. The company has a quick ratio of 1.09, a current ratio of 1.76 and a debt-to-equity ratio of 1.15. The stock has a market capitalization of $7.84 billion, a P/E ratio of 27.93, a P/E/G ratio of 1.68 and a beta of 1.42.

Builders FirstSource (NYSE:BLDR) last announced its earnings results on Thursday, April 30th. The company reported $0.27 EPS for the quarter, missing analysts’ consensus estimates of $0.39 by ($0.12). The firm had revenue of $3.29 billion for 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 was down 10.1% compared to the same quarter last year. During the same period in the previous year, the company earned $1.51 EPS. Equities analysts forecast that Builders FirstSource will post 4.29 earnings per share for the current fiscal year.

Builders FirstSource announced that its Board of Directors has initiated a stock repurchase plan on Thursday, April 30th that authorizes the company to repurchase $500.00 million in outstanding shares. This repurchase authorization authorizes the company to purchase up to 5.4% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s management believes its shares are undervalued.

Hedge Funds Weigh In On Builders FirstSource

A number of hedge funds have recently made changes to their positions in BLDR. Schwartz Investment Counsel Inc. raised 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 valued at $9,857,000 after buying an additional 14,000 shares during the period. Eagle Global Advisors LLC grew its position 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 acquiring an additional 19,062 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. increased its stake in Builders FirstSource by 10.3% during the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 238,867 shares of the company’s stock worth $24,993,000 after buying an additional 22,270 shares during the period. Diamond Hill Capital Management Inc. boosted its position in Builders FirstSource by 13.4% in the 4th quarter. Diamond Hill Capital Management Inc. now owns 1,872,708 shares of the company’s stock valued at $192,683,000 after buying an additional 221,641 shares during the period. Finally, Northwestern Mutual Wealth Management Co. boosted its position in Builders FirstSource by 99,084.1% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 2,241,561 shares of the company’s stock valued at $230,634,000 after buying an additional 2,239,301 shares during the period. Hedge funds and other institutional investors own 95.53% of the company’s stock.

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.