Builders FirstSource Inc. (BLDR) Raised to “Buy” at Zacks Investment Research
Builders FirstSource Inc. (NASDAQ:BLDR) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report released on Monday. The brokerage presently has a $12.00 price objective on the stock. Zacks Investment Research’s target price suggests a potential upside of 12.99% from the company’s previous close.
According to Zacks, “Builders FirstSource is a leading supplier and manufacturer of structural and related building products for residential new construction in the United States. Manufacturing facilities include plants that manufacture roof and floor trusses, wall panels, stairs, aluminum and vinyl windows, custom millwork and pre-hung doors. Builders FirstSource also distributes windows, interior and exterior doors, dimensional lumber and lumber sheet goods, millwork and other building products. “
A number of other equities research analysts have also issued reports on BLDR. Credit Suisse Group AG reaffirmed a “hold” rating on shares of Builders FirstSource in a report on Tuesday, June 28th. Citigroup Inc. upped their target price on shares of Builders FirstSource from $12.00 to $14.00 and gave the stock a “neutral” rating in a report on Monday, August 8th. Finally, Wedbush reaffirmed an “outperform” rating and set a $18.00 target price on shares of Builders FirstSource in a report on Tuesday, September 6th. Two investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average price target of $15.43.
Shares of Builders FirstSource (NASDAQ:BLDR) traded down 2.30% during midday trading on Monday, reaching $10.62. 1,360,557 shares of the company were exchanged. The firm’s market capitalization is $1.17 billion. Builders FirstSource has a 52 week low of $6.50 and a 52 week high of $15.72. The firm has a 50-day moving average of $12.16 and a 200 day moving average of $11.99.
Builders FirstSource (NASDAQ:BLDR) last posted its quarterly earnings data on Thursday, August 4th. The company reported $0.31 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.36 by $0.05. The company had revenue of $1.70 billion for the quarter, compared to analyst estimates of $1.72 billion. Builders FirstSource had a positive return on equity of 38.21% and a negative net margin of 0.12%. The business’s revenue was up 263.4% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.14 earnings per share. On average, equities research analysts expect that Builders FirstSource will post $0.80 EPS for the current year.
In related news, insider Morris E. Tolly sold 50,000 shares of the company’s stock in a transaction dated Wednesday, August 17th. The shares were sold at an average price of $12.43, for a total value of $621,500.00. Following the completion of the sale, the insider now owns 216,890 shares of the company’s stock, valued at $2,695,942.70. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Floyd F. Sherman sold 235,753 shares of the company’s stock in a transaction dated Tuesday, August 16th. The shares were sold at an average price of $12.39, for a total transaction of $2,920,979.67. Following the completion of the sale, the chief executive officer now directly owns 559,963 shares of the company’s stock, valued at approximately $6,937,941.57. The disclosure for this sale can be found here. 36.20% of the stock is currently owned by corporate insiders.
Several large investors have recently made changes to their positions in the stock. Stadium Capital Management LLC raised its position in shares of Builders FirstSource by 77.1% in the first quarter. Stadium Capital Management LLC now owns 8,577,599 shares of the company’s stock valued at $96,670,000 after buying an additional 3,733,665 shares during the period. Vanguard Group Inc. raised its position in shares of Builders FirstSource by 19.2% in the second quarter. Vanguard Group Inc. now owns 4,539,800 shares of the company’s stock valued at $51,073,000 after buying an additional 731,239 shares during the period. Ruane Cunniff & Goldfarb Inc. bought a new position in shares of Builders FirstSource during the second quarter valued at $45,083,000. FMR LLC raised its position in shares of Builders FirstSource by 2.1% in the second quarter. FMR LLC now owns 3,551,498 shares of the company’s stock valued at $39,955,000 after buying an additional 74,356 shares during the period. Finally, Lord Abbett & CO. LLC raised its position in shares of Builders FirstSource by 113.7% in the second quarter. Lord Abbett & CO. LLC now owns 3,493,471 shares of the company’s stock valued at $39,301,000 after buying an additional 1,858,635 shares during the period. 83.08% of the stock is owned by hedge funds and other institutional investors.
About Builders FirstSource
Builders FirstSource, Inc is a supplier and manufacturer of building materials, manufactured components and construction services to professional contractors, sub-contractors and consumers. The Company’s operating segments include Northeast, Southeast, South and West. It offers solution to its customers providing manufacturing, supply and installation of a range of structural and related building products.
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