Bank of America Increases Builders FirstSource (NYSE:BLDR) Price Target to $198.00

Builders FirstSource (NYSE:BLDR) had its price objective hoisted by analysts at Bank of America from $165.00 to $198.00 in a research report issued to clients and investors on Thursday, Benzinga reports. The brokerage presently has a “neutral” rating on the stock. Bank of America‘s price objective would indicate a potential upside of 0.13% from the company’s previous close.

Several other research analysts also recently commented on BLDR. Wedbush reaffirmed an “outperform” rating and issued a $175.00 target price on shares of Builders FirstSource in a research note on Tuesday, August 6th. Baird R W raised shares of Builders FirstSource from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, August 7th. Jefferies Financial Group reiterated a “buy” rating and set a $185.00 target price (down from $205.00) on shares of Builders FirstSource in a report on Friday, August 9th. Oppenheimer boosted their price target on Builders FirstSource from $205.00 to $225.00 and gave the company an “outperform” rating in a report on Wednesday. Finally, Benchmark dropped their price objective on Builders FirstSource from $220.00 to $200.00 and set a “buy” rating for the company in a report on Wednesday, August 7th. Four research 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 MarketBeat.com, Builders FirstSource currently has an average rating of “Moderate Buy” and an average target price of $190.00.

Builders FirstSource Trading Down 2.0 %

Shares of BLDR stock opened at $197.74 on Thursday. 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 business has a 50-day moving average price of $167.76 and a two-hundred day moving average price of $171.06. Builders FirstSource has a 12-month low of $105.24 and a 12-month high of $214.70. The firm has a market cap of $24.14 billion, a P/E ratio of 16.93, a price-to-earnings-growth ratio of 10.06 and a beta of 2.06.

Builders FirstSource (NYSE:BLDR) last released its quarterly earnings data on Tuesday, August 6th. The company reported $3.50 EPS for the quarter, topping the consensus estimate of $3.02 by $0.48. The firm had revenue of $4.46 billion for the quarter, compared to the consensus estimate of $4.48 billion. Builders FirstSource had a return on equity of 37.05% and a net margin of 8.25%. The company’s quarterly revenue was down 1.6% on a year-over-year basis. During the same quarter in the previous year, the business earned $3.89 earnings per share. Equities analysts anticipate that Builders FirstSource will post 11.65 EPS for the current fiscal year.

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

Insider Buying and Selling

In other news, Director Craig Arthur Steinke sold 30,000 shares of Builders FirstSource stock in a transaction that occurred on Thursday, August 8th. The shares were sold at an average price of $153.68, for a total transaction of $4,610,400.00. Following the completion of the transaction, the director now directly owns 95,333 shares in the company, valued at $14,650,775.44. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 1.80% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Builders FirstSource

Several institutional investors and hedge funds have recently modified their holdings of BLDR. Westside Investment Management Inc. bought a new position in Builders FirstSource in the 1st quarter worth about $31,000. ORG Partners LLC bought a new position in Builders FirstSource in the 1st quarter worth about $33,000. American Capital Advisory LLC bought a new position in Builders FirstSource in the 1st quarter worth about $34,000. Principal Securities Inc. bought a new position in Builders FirstSource in the 4th quarter worth about $32,000. Finally, Innealta Capital LLC bought a new position in Builders FirstSource in the 2nd quarter worth about $27,000. 95.53% of the stock is currently 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.