Royal Bank of Canada Increases Builders FirstSource (NYSE:BLDR) Price Target to $187.00

Builders FirstSource (NYSE:BLDR) had its price target boosted by equities researchers at Royal Bank of Canada from $178.00 to $187.00 in a research report issued to clients and investors on Wednesday, Benzinga reports. The firm currently has an “outperform” rating on the stock. Royal Bank of Canada’s price target points to a potential upside of 6.72% from the company’s current price.

Other research analysts have also issued reports about the company. Stifel Nicolaus dropped their target price on Builders FirstSource from $217.00 to $195.00 and set a “buy” rating on the stock in a research report on Thursday, August 8th. B. Riley lowered their price objective on Builders FirstSource from $197.00 to $187.00 and set a “buy” rating on the stock in a report on Wednesday, August 7th. Oppenheimer reissued an “outperform” rating and set a $225.00 price objective on shares of Builders FirstSource in a report on Tuesday, October 29th. Truist Financial raised Builders FirstSource from a “hold” rating to a “buy” rating and increased their price objective for the company from $165.00 to $220.00 in a report on Monday, September 16th. Finally, Baird R W raised Builders FirstSource from a “hold” rating to a “strong-buy” rating in a report on Wednesday, August 7th. Four research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Builders FirstSource has a consensus rating of “Moderate Buy” and an average price target of $207.50.

Builders FirstSource Stock Down 3.2 %

BLDR stock traded down $5.77 during mid-day trading on Wednesday, hitting $175.22. The stock had a trading volume of 1,680,883 shares, compared to its average volume of 1,569,338. The company has a current ratio of 1.83, a quick ratio of 1.14 and a debt-to-equity ratio of 0.88. Builders FirstSource has a 1-year low of $120.80 and a 1-year high of $214.70. The company has a fifty day moving average of $184.50 and a 200 day moving average of $168.39. The stock has a market capitalization of $20.40 billion, a price-to-earnings ratio of 15.35, a PEG ratio of 10.15 and a beta of 2.08.

Builders FirstSource (NYSE:BLDR) last issued its earnings results on Tuesday, November 5th. The company reported $3.07 earnings per share for the quarter, missing the consensus estimate of $3.09 by ($0.02). Builders FirstSource had a return on equity of 37.05% and a net margin of 8.25%. The firm had revenue of $4.23 billion during the quarter, compared to analyst estimates of $4.44 billion. During the same period in the previous year, the company earned $4.24 earnings per share. The business’s revenue for the quarter was down 6.7% on a year-over-year basis. On average, equities analysts expect that Builders FirstSource will post 11.69 EPS for the current fiscal year.

Builders FirstSource declared that its board has approved a stock buyback program on Tuesday, August 6th that authorizes the company to buyback $1.00 billion in shares. This buyback authorization authorizes the company to reacquire up to 5.3% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s board of directors believes its shares are undervalued.

Insider Buying and Selling at Builders FirstSource

In other Builders FirstSource news, Director Craig Arthur Steinke sold 30,000 shares of the company’s stock in a transaction on Thursday, August 8th. The stock was sold at an average price of $153.68, for a total value of $4,610,400.00. Following the sale, the director now directly owns 95,333 shares in the company, valued at $14,650,775.44. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Company insiders own 1.80% of the company’s stock.

Institutional Trading of Builders FirstSource

A number of large investors have recently bought and sold shares of BLDR. Baillie Gifford & Co. acquired a new position in Builders FirstSource in the third quarter worth $267,132,000. Boston Partners raised its holdings in shares of Builders FirstSource by 0.8% in the first quarter. Boston Partners now owns 1,377,335 shares of the company’s stock valued at $285,794,000 after buying an additional 10,551 shares during the last quarter. Diamond Hill Capital Management Inc. acquired a new position in Builders FirstSource during the 3rd quarter worth about $255,867,000. Massachusetts Financial Services Co. MA grew its holdings in Builders FirstSource by 339.8% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 1,180,358 shares of the company’s stock worth $163,373,000 after acquiring an additional 911,990 shares during the last quarter. Finally, Bank of New York Mellon Corp increased its position in Builders FirstSource by 22.7% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,062,488 shares of the company’s stock valued at $147,059,000 after acquiring an additional 196,571 shares in the last quarter. 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.