Bank of America Upgrades Builders FirstSource (NYSE:BLDR) to Buy

Builders FirstSource (NYSE:BLDRGet Free Report) was upgraded by research analysts at Bank of America from a “neutral” rating to a “buy” rating in a research note issued on Monday, MarketBeat reports. The brokerage currently has a $200.00 price objective on the stock, up from their prior price objective of $153.00. Bank of America‘s price target would suggest a potential upside of 13.33% from the company’s current price.

Several other analysts have also commented on BLDR. Royal Bank of Canada lowered their price target on shares of Builders FirstSource from $188.00 to $152.00 and set an “outperform” rating on the stock in a research report on Thursday, November 2nd. Truist Financial downgraded Builders FirstSource from a “buy” rating to a “hold” rating and upped their price objective for the company from $165.00 to $185.00 in a research report on Thursday, January 4th. Stephens dropped their price objective on Builders FirstSource from $175.00 to $150.00 and set an “overweight” rating for the company in a research report on Thursday, November 2nd. StockNews.com downgraded shares of Builders FirstSource from a “buy” rating to a “hold” rating in a research note on Monday, January 8th. Finally, Stifel Nicolaus boosted their target price on shares of Builders FirstSource from $184.00 to $200.00 and gave the company a “buy” rating in a research note on Tuesday, December 19th. Five investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat, Builders FirstSource presently has a consensus rating of “Moderate Buy” and a consensus price target of $169.53.

Read Our Latest Research Report on Builders FirstSource

Builders FirstSource Trading Down 0.0 %

Shares of BLDR opened at $176.47 on Monday. The company has a current ratio of 1.76, a quick ratio of 1.11 and a debt-to-equity ratio of 0.74. The firm’s 50-day moving average is $158.50 and its two-hundred day moving average is $140.63. Builders FirstSource has a twelve month low of $76.69 and a twelve month high of $179.17. The firm has a market capitalization of $21.77 billion, a P/E ratio of 14.98 and a beta of 2.05.

Builders FirstSource (NYSE:BLDRGet Free Report) last issued its earnings results on Wednesday, November 1st. The company reported $4.24 earnings per share for the quarter, topping the consensus estimate of $4.05 by $0.19. Builders FirstSource had a net margin of 9.10% and a return on equity of 41.27%. The company had revenue of $4.53 billion for the quarter, compared to analyst estimates of $4.88 billion. During the same period in the prior year, the business posted $5.20 earnings per share. The firm’s revenue for the quarter was down 21.3% compared to the same quarter last year. On average, research analysts predict that Builders FirstSource will post 13.79 earnings per share for the current fiscal year.

Insider Buying and Selling at Builders FirstSource

In other Builders FirstSource news, insider Michael Alan Farmer sold 3,318 shares of Builders FirstSource stock in a transaction dated Thursday, December 7th. The stock was sold at an average price of $145.64, for a total value of $483,233.52. Following the completion of the sale, the insider now owns 60,660 shares in the company, valued at approximately $8,834,522.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 1.90% of the stock is owned by company insiders.

Institutional Trading of Builders FirstSource

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Private Trust Co. NA grew its holdings in shares of Builders FirstSource by 30.7% during the 4th quarter. Private Trust Co. NA now owns 345 shares of the company’s stock worth $58,000 after purchasing an additional 81 shares during the period. D Orazio & Associates Inc. grew its holdings in shares of Builders FirstSource by 3.7% during the 3rd quarter. D Orazio & Associates Inc. now owns 2,360 shares of the company’s stock worth $294,000 after purchasing an additional 84 shares during the period. V Square Quantitative Management LLC grew its holdings in shares of Builders FirstSource by 10.2% during the 3rd quarter. V Square Quantitative Management LLC now owns 915 shares of the company’s stock worth $114,000 after purchasing an additional 85 shares during the period. Measured Wealth Private Client Group LLC grew its holdings in shares of Builders FirstSource by 2.5% during the 3rd quarter. Measured Wealth Private Client Group LLC now owns 3,673 shares of the company’s stock worth $457,000 after purchasing an additional 90 shares during the period. Finally, Mezzasalma Advisors LLC boosted its holdings in Builders FirstSource by 0.6% in the 3rd quarter. Mezzasalma Advisors LLC now owns 14,715 shares of the company’s stock worth $1,832,000 after acquiring an additional 90 shares during the period. Hedge funds and other institutional investors own 94.73% of the company’s stock.

About Builders FirstSource

(Get Free Report)

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, steel roof 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.

Further Reading

Analyst Recommendations for Builders FirstSource (NYSE:BLDR)

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