Builders FirstSource (NYSE:BLDR) Earns “Outperform” Rating from Wedbush

Wedbush reaffirmed their outperform rating on shares of Builders FirstSource (NYSE:BLDR) in a report issued on Wednesday morning,RTT News reports. They currently have a $230.00 price target on the stock.

A number of other research analysts have also recently commented on BLDR. Jefferies Financial Group raised their price target on shares of Builders FirstSource from $185.00 to $223.00 and gave the stock a “buy” rating in a research note on Wednesday, October 9th. Benchmark decreased their price target on Builders FirstSource from $220.00 to $200.00 and set a “buy” rating on the stock in a research note on Wednesday, August 7th. StockNews.com upgraded Builders FirstSource from a “hold” rating to a “buy” rating in a research note on Monday, September 23rd. B. Riley reduced their target price on shares of Builders FirstSource from $197.00 to $187.00 and set a “buy” rating on the stock in a research note on Wednesday, August 7th. Finally, The Goldman Sachs Group assumed coverage on shares of Builders FirstSource in a research report on Thursday, October 10th. They set a “buy” rating and a $225.00 target price for the company. Five analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $206.88.

Builders FirstSource Stock Performance

Builders FirstSource stock traded down $0.18 during mid-day trading on Wednesday, reaching $176.60. The company had a trading volume of 496,213 shares, compared to its average volume of 1,572,676. The company has a 50 day moving average of $184.58 and a 200-day moving average of $168.44. Builders FirstSource has a 52 week low of $120.80 and a 52 week high of $214.70. The company has a quick ratio of 1.14, a current ratio of 1.83 and a debt-to-equity ratio of 0.88. The firm has a market cap of $20.57 billion, a price-to-earnings ratio of 15.52, a PEG ratio of 10.15 and a beta of 2.08.

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

Builders FirstSource announced that its Board of Directors has approved a stock repurchase program on Tuesday, August 6th that allows the company to buyback $1.00 billion in shares. This buyback authorization allows the company to buy up to 5.3% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s board of directors believes its shares are undervalued.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. Innealta Capital LLC bought a new stake in Builders FirstSource in the second quarter valued at about $27,000. Armstrong Advisory Group Inc. acquired a new position in shares of Builders FirstSource during the 3rd quarter worth about $30,000. ORG Partners LLC bought a new stake in shares of Builders FirstSource in the 1st quarter valued at about $33,000. First Horizon Advisors Inc. raised its position in shares of Builders FirstSource by 42.1% in the 2nd quarter. First Horizon Advisors Inc. now owns 253 shares of the company’s stock valued at $35,000 after acquiring an additional 75 shares during the period. Finally, New Millennium Group LLC bought a new position in Builders FirstSource during the 2nd quarter worth approximately $38,000. 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.