Stifel Nicolaus Cuts Builders FirstSource (NYSE:BLDR) Price Target to $70.00

Builders FirstSource (NYSE:BLDR) had its price objective lowered by Stifel Nicolaus from $76.00 to $70.00 in a research report report published on Thursday morning, Marketbeat.com reports. The brokerage currently has a hold rating on the stock.

BLDR has been the topic of a number of other reports. Jefferies Financial Group lowered their price target on shares of Builders FirstSource from $85.00 to $80.00 and set a “hold” rating on the stock in a research note on Monday, May 4th. Royal Bank Of Canada reduced their price objective on shares of Builders FirstSource from $110.00 to $107.00 and set an “outperform” rating for the company in a research note on Friday, May 1st. KeyCorp decreased their price objective on shares of Builders FirstSource from $100.00 to $91.00 and set an “overweight” rating on the stock in a report on Monday, July 13th. Weiss Ratings lowered shares of Builders FirstSource from a “sell (d+)” rating to a “sell (d)” rating in a research report on Tuesday. Finally, Zacks Research raised shares of Builders FirstSource from a “strong sell” rating to a “hold” rating in a report on Friday, July 3rd. Nine equities research analysts have rated the stock with a Buy rating, twelve have given a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $100.35.

Builders FirstSource Stock Up 3.3%

Builders FirstSource stock opened at $72.89 on Thursday. The stock’s 50 day moving average price is $77.11 and its 200 day moving average price is $91.34. Builders FirstSource has a 1-year low of $65.10 and a 1-year high of $151.03. The company has a market cap of $7.84 billion, a PE ratio of 27.93, a price-to-earnings-growth ratio of 1.74 and a beta of 1.42. The company has a debt-to-equity ratio of 1.15, a current ratio of 1.76 and a quick ratio of 1.09.

Builders FirstSource (NYSE:BLDR) last released its quarterly earnings data on Thursday, April 30th. The company reported $0.27 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.39 by ($0.12). Builders FirstSource had a return on equity of 14.89% and a net margin of 1.97%.The business had revenue of $3.29 billion during the quarter, compared to analysts’ expectations of $3.17 billion. During the same quarter in the previous year, the company posted $1.51 EPS. The company’s revenue was down 10.1% compared to the same quarter last year. On average, sell-side analysts predict that Builders FirstSource will post 4.16 EPS for the current fiscal year.

Builders FirstSource announced that its board has authorized a stock buyback plan on Thursday, April 30th that permits the company to repurchase $500.00 million in outstanding shares. This repurchase authorization permits the company to reacquire up to 5.4% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s board believes its shares are undervalued.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in BLDR. Cromwell Holdings LLC grew its stake in Builders FirstSource by 1,323.5% in the 4th quarter. Cromwell Holdings LLC now owns 242 shares of the company’s stock valued at $25,000 after acquiring an additional 225 shares during the last quarter. Caitong International Asset Management Co. Ltd raised its position in Builders FirstSource by 167.1% during the third quarter. Caitong International Asset Management Co. Ltd now owns 211 shares of the company’s stock worth $26,000 after acquiring an additional 132 shares during the last quarter. Sunbelt Securities Inc. lifted its holdings in shares of Builders FirstSource by 508.5% in the first quarter. Sunbelt Securities Inc. now owns 359 shares of the company’s stock valued at $30,000 after purchasing an additional 300 shares in the last quarter. Root Financial Partners LLC lifted its holdings in shares of Builders FirstSource by 43.6% in the first quarter. Root Financial Partners LLC now owns 372 shares of the company’s stock valued at $31,000 after purchasing an additional 113 shares in the last quarter. Finally, Transamerica Financial Advisors LLC grew its position in shares of Builders FirstSource by 90.2% in the fourth quarter. Transamerica Financial Advisors LLC now owns 369 shares of the company’s stock valued at $38,000 after purchasing an additional 175 shares during the last quarter. Institutional investors and hedge funds own 95.53% of the company’s stock.

Builders FirstSource Company Profile

Builders FirstSource, Inc is a leading supplier of structural and value-added building products and services to professional contractors, homebuilders and remodelers. The company provides a comprehensive range of materials and prefabricated components that support all phases of residential construction, from site development and framing to finishing and installation.

The company’s core offerings include lumber and lumber sheet goods, windows and doors, millwork, roofing and siding, and engineered wood products such as roof and floor trusses.