Builders FirstSource (NYSE:BLDR) PT Raised to $222.00 at Robert W. Baird

Builders FirstSource (NYSE:BLDR) had its target price lifted by research analysts at Robert W. Baird from $190.00 to $222.00 in a research note issued on Wednesday, Benzinga reports. The brokerage presently has an “outperform” rating on the stock. Robert W. Baird’s price objective points to a potential upside of 13.63% from the stock’s current price.

BLDR has been the subject of a number of other research reports. Jefferies Financial Group raised their price target on Builders FirstSource from $185.00 to $223.00 and gave the company a “buy” rating in a research report on Wednesday, October 9th. Baird R W upgraded shares of Builders FirstSource from a “hold” rating to a “strong-buy” rating in a report on Wednesday, August 7th. Barclays upped their price target on shares of Builders FirstSource from $182.00 to $211.00 and gave the company an “overweight” rating in a report on Wednesday, October 9th. Truist Financial raised shares of Builders FirstSource from a “hold” rating to a “buy” rating and raised their price objective for the stock from $165.00 to $220.00 in a research note on Monday, September 16th. Finally, Wedbush reiterated an “outperform” rating and set a $175.00 target price on shares of Builders FirstSource in a report on Tuesday, August 6th. Four investment analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Builders FirstSource has an average rating of “Moderate Buy” and a consensus target price of $198.38.

Builders FirstSource Stock Performance

Shares of BLDR opened at $195.37 on Wednesday. The company has a quick ratio of 1.14, a current ratio of 1.83 and a debt-to-equity ratio of 0.88. Builders FirstSource has a 52-week low of $105.24 and a 52-week high of $214.70. The company has a 50-day simple moving average of $181.00 and a 200-day simple moving average of $169.90. The company has a market capitalization of $23.85 billion, a PE ratio of 16.73, a P/E/G ratio of 11.48 and a beta of 2.06.

Builders FirstSource (NYSE:BLDR) last issued its earnings results on Tuesday, August 6th. The company reported $3.50 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.02 by $0.48. Builders FirstSource had a net margin of 8.25% and a return on equity of 37.05%. The company had revenue of $4.46 billion during the quarter, compared to analysts’ expectations of $4.48 billion. During the same period last year, the company posted $3.89 earnings per share. The firm’s quarterly revenue was down 1.6% compared to the same quarter last year. Equities research analysts predict that Builders FirstSource will post 11.68 earnings per share for the current fiscal year.

Builders FirstSource declared that its Board of Directors has authorized a share repurchase plan on Tuesday, August 6th that allows the company to buyback $1.00 billion in outstanding shares. This buyback authorization allows the company to purchase up to 5.3% of its shares through open market purchases. Shares buyback plans are usually an indication that the company’s leadership believes its stock is undervalued.

Insiders Place Their Bets

In other news, Director Craig Arthur Steinke sold 30,000 shares of the business’s stock in a transaction 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 transaction, the director now directly owns 95,333 shares of the company’s stock, valued at approximately $14,650,775.44. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 1.80% of the stock is owned by company insiders.

Hedge Funds Weigh In On Builders FirstSource

A number of institutional investors have recently made changes to their positions in the business. Boston Partners increased its stake in shares of Builders FirstSource by 0.8% in the first quarter. Boston Partners now owns 1,377,335 shares of the company’s stock worth $285,794,000 after buying an additional 10,551 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its position in shares of Builders FirstSource by 339.8% during the second quarter. Massachusetts Financial Services Co. MA now owns 1,180,358 shares of the company’s stock worth $163,373,000 after purchasing an additional 911,990 shares during the last quarter. Bank of New York Mellon Corp grew its stake in Builders FirstSource by 22.7% in the second quarter. Bank of New York Mellon Corp now owns 1,062,488 shares of the company’s stock worth $147,059,000 after purchasing an additional 196,571 shares in the last quarter. William Blair Investment Management LLC raised its stake in Builders FirstSource by 1.2% during the second quarter. William Blair Investment Management LLC now owns 1,051,461 shares of the company’s stock valued at $145,533,000 after buying an additional 12,518 shares in the last quarter. Finally, Anomaly Capital Management LP lifted its holdings in Builders FirstSource by 22.5% during the 2nd quarter. Anomaly Capital Management LP now owns 1,020,441 shares of the company’s stock worth $141,239,000 after buying an additional 187,371 shares during the last quarter. 95.53% of the stock is owned by institutional investors and hedge funds.

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.