Wedbush Reaffirms Outperform Rating for Builders FirstSource (NYSE:BLDR)

Wedbush reissued their outperform rating on shares of Builders FirstSource (NYSE:BLDR) in a research note released on Wednesday, Marketbeat.com reports. Wedbush currently has a $230.00 price target on the stock.

BLDR has been the topic of several other reports. Truist Financial raised shares of Builders FirstSource from a “hold” rating to a “buy” rating and lifted their target price for the stock from $165.00 to $220.00 in a research report on Monday, September 16th. Barclays increased their target price on Builders FirstSource from $182.00 to $211.00 and gave the company an “overweight” rating in a report on Wednesday, October 9th. Loop Capital lifted their price target on Builders FirstSource from $190.00 to $230.00 and gave the company a “buy” rating in a report on Friday, September 20th. Royal Bank of Canada increased their price objective on Builders FirstSource from $178.00 to $187.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 6th. Finally, Robert W. Baird lifted their target price on Builders FirstSource from $190.00 to $222.00 and gave the company an “outperform” rating in a research note on Wednesday, October 16th. Four research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $210.00.

Builders FirstSource Price Performance

BLDR stock traded down $3.88 during trading hours on Wednesday, hitting $148.15. 394,304 shares of the stock traded hands, compared to its average volume of 1,528,494. The stock has a 50-day simple moving average of $179.54 and a 200 day simple moving average of $169.01. The company has a market cap of $17.05 billion, a P/E ratio of 14.47, a P/E/G ratio of 0.96 and a beta of 2.06. Builders FirstSource has a one year low of $130.75 and a one year high of $214.70. The company has a current ratio of 1.77, a quick ratio of 1.16 and a debt-to-equity ratio of 0.83.

Builders FirstSource (NYSE:BLDR) last released its quarterly earnings data 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). The company had revenue of $4.23 billion for the quarter, compared to the consensus estimate of $4.44 billion. Builders FirstSource had a return on equity of 33.55% and a net margin of 7.40%. During the same period in the prior year, the business earned $4.24 earnings per share. The business’s revenue was down 6.7% compared to the same quarter last year. Equities analysts forecast that Builders FirstSource will post 11.55 earnings per share for the current year.

Insider Buying and Selling

In other news, Director Cleveland A. Christophe sold 10,000 shares of the firm’s stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $178.41, for a total value of $1,784,100.00. Following the sale, the director now directly owns 33,083 shares of the company’s stock, valued at approximately $5,902,338.03. This trade represents a 23.21 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 1.80% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. B. Riley Wealth Advisors Inc. raised its position in shares of Builders FirstSource by 18.1% during the third quarter. B. Riley Wealth Advisors Inc. now owns 3,270 shares of the company’s stock valued at $639,000 after buying an additional 500 shares during the last quarter. Oddo BHF Asset Management Sas acquired a new position in Builders FirstSource in the 3rd quarter valued at approximately $547,000. American Trust lifted its position in shares of Builders FirstSource by 5.0% in the 3rd quarter. American Trust now owns 3,626 shares of the company’s stock worth $703,000 after acquiring an additional 174 shares during the period. Tidal Investments LLC grew its holdings in shares of Builders FirstSource by 129.4% during the 3rd quarter. Tidal Investments LLC now owns 19,845 shares of the company’s stock worth $3,847,000 after purchasing an additional 11,194 shares in the last quarter. Finally, Wilmington Savings Fund Society FSB bought a new stake in shares of Builders FirstSource during the third quarter valued at approximately $827,000. 95.53% of the stock is owned by institutional investors.

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.