Zacks Investment Research Downgrades Builders FirstSource, Inc. (NASDAQ:BLDR) to Sell
Zacks Investment Research lowered shares of Builders FirstSource, Inc. (NASDAQ:BLDR) from a hold rating to a sell rating in a report published on Wednesday, July 12th.
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. “
Several other equities research analysts have also issued reports on the company. FBR & Co reaffirmed a buy rating and set a $20.00 price target on shares of Builders FirstSource in a research note on Tuesday, June 27th. BidaskClub raised Builders FirstSource from a sell rating to a hold rating in a research report on Saturday, June 10th. Wedbush reiterated an outperform rating and set a $20.00 target price (up previously from $19.00) on shares of Builders FirstSource in a report on Wednesday, May 17th. Finally, Citigroup Inc. upped their target price on Builders FirstSource from $14.00 to $17.00 and gave the stock a neutral rating in a report on Thursday, May 11th. Four equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Builders FirstSource currently has an average rating of Hold and a consensus target price of $17.00.
Shares of Builders FirstSource (NASDAQ BLDR) opened at 16.72 on Wednesday. The stock has a 50 day moving average of $15.47 and a 200 day moving average of $14.37. Builders FirstSource has a 52 week low of $9.04 and a 52 week high of $16.83. The firm has a market cap of $1.88 billion, a P/E ratio of 11.68 and a beta of 2.16.
Builders FirstSource (NASDAQ:BLDR) last announced its quarterly earnings results on Thursday, August 3rd. The company reported $0.37 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.34 by $0.03. The company had revenue of $1.84 billion during the quarter, compared to analysts’ expectations of $1.83 billion. Builders FirstSource had a return on equity of 45.79% and a net margin of 2.60%. The firm’s quarterly revenue was up 9.9% compared to the same quarter last year. During the same period in the previous year, the business earned $0.31 earnings per share. Equities analysts forecast that Builders FirstSource will post $1.09 earnings per share for the current year.
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In other news, CEO Floyd F. Sherman sold 35,000 shares of the firm’s stock in a transaction dated Friday, June 9th. The stock was sold at an average price of $14.91, for a total transaction of $521,850.00. Following the completion of the transaction, the chief executive officer now owns 633,635 shares in the company, valued at $9,447,497.85. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Morris E. Tolly sold 50,268 shares of Builders FirstSource stock in a transaction dated Thursday, May 11th. The stock was sold at an average price of $14.81, for a total value of $744,469.08. Following the completion of the transaction, the insider now owns 126,205 shares of the company’s stock, valued at approximately $1,869,096.05. The disclosure for this sale can be found here. Company insiders own 14.60% of the company’s stock.
Hedge funds have recently bought and sold shares of the stock. State Street Corp increased its stake in Builders FirstSource by 5.2% in the fourth quarter. State Street Corp now owns 1,448,327 shares of the company’s stock valued at $15,886,000 after buying an additional 71,805 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in Builders FirstSource by 4.6% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,947,932 shares of the company’s stock valued at $32,340,000 after buying an additional 130,963 shares in the last quarter. Teachers Advisors LLC increased its stake in Builders FirstSource by 7.0% in the fourth quarter. Teachers Advisors LLC now owns 196,860 shares of the company’s stock valued at $2,160,000 after buying an additional 12,842 shares in the last quarter. Sheets Smith Wealth Management acquired a new position in shares of Builders FirstSource during the first quarter worth approximately $358,000. Finally, Fox Run Management L.L.C. increased its position in shares of Builders FirstSource by 59.6% in the first quarter. Fox Run Management L.L.C. now owns 32,400 shares of the company’s stock worth $483,000 after buying an additional 12,100 shares during the period. 84.81% 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, remodelers and consumers. The Company’s operating segments include Northeast, Southeast, South and West. As of December 31, 2016, it operated at 400 locations in 40 states across the United States.
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