Raymond James Upgrades Builders FirstSource (NYSE:BLDR) to “Moderate Buy”

Builders FirstSource (NYSE:BLDR) was upgraded by equities researchers at Raymond James to a “moderate buy” rating in a research report issued on Thursday,Zacks.com reports.

Other research analysts have also issued reports about the stock. Royal Bank of Canada raised their price target on shares of Builders FirstSource from $178.00 to $187.00 and gave the company an “outperform” rating in a research note on Wednesday, November 6th. Wedbush reissued an “outperform” rating and issued a $230.00 price objective on shares of Builders FirstSource in a research note on Wednesday, December 18th. Jefferies Financial Group lifted their price objective on shares of Builders FirstSource from $185.00 to $223.00 and gave the stock a “buy” rating in a research report on Wednesday, October 9th. Robert W. Baird raised their price objective on shares of Builders FirstSource from $190.00 to $222.00 and gave the stock an “outperform” rating in a report on Wednesday, October 16th. Finally, Oppenheimer reiterated an “outperform” rating and issued a $225.00 price objective on shares of Builders FirstSource in a research note on Tuesday, October 29th. 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.com, the stock has an average rating of “Moderate Buy” and an average target price of $205.71.

Builders FirstSource Stock Performance

NYSE BLDR opened at $164.09 on Thursday. The company has a debt-to-equity ratio of 0.83, a quick ratio of 1.16 and a current ratio of 1.77. The company has a market cap of $18.88 billion, a P/E ratio of 16.02, a P/E/G ratio of 0.75 and a beta of 2.11. Builders FirstSource has a fifty-two week low of $130.75 and a fifty-two week high of $214.70. The business’s 50 day moving average price is $163.99 and its 200-day moving average price is $169.30.

Builders FirstSource (NYSE:BLDR) last issued its quarterly earnings results on Tuesday, November 5th. The company reported $3.07 EPS for the quarter, missing analysts’ consensus estimates of $3.09 by ($0.02). The firm had revenue of $4.23 billion for the quarter, compared to analyst estimates of $4.44 billion. Builders FirstSource had a return on equity of 33.55% and a net margin of 7.40%. The business’s revenue was down 6.7% compared to the same quarter last year. During the same period in the prior year, the firm posted $4.24 EPS. Sell-side analysts predict that Builders FirstSource will post 11.55 earnings per share for the current year.

Insider Buying and Selling at Builders FirstSource

In other news, Director Cleveland A. Christophe sold 10,000 shares of the stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $178.41, for a total value of $1,784,100.00. Following the completion of the transaction, the director now directly owns 33,083 shares in the company, valued at $5,902,338.03. This trade represents a 23.21 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 1.80% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Builders FirstSource

Several institutional investors and hedge funds have recently modified their holdings of BLDR. JPMorgan Chase & Co. boosted its position in shares of Builders FirstSource by 8.0% in the third quarter. JPMorgan Chase & Co. now owns 793,182 shares of the company’s stock valued at $153,766,000 after acquiring an additional 58,436 shares during the period. Oak Thistle LLC acquired a new stake in shares of Builders FirstSource in the 4th quarter valued at $1,136,000. Forsta AP Fonden raised its position in shares of Builders FirstSource by 12.1% during the 3rd quarter. Forsta AP Fonden now owns 26,800 shares of the company’s stock valued at $5,195,000 after acquiring an additional 2,900 shares during the last quarter. Miracle Mile Advisors LLC bought a new stake in shares of Builders FirstSource in the 4th quarter valued at about $405,000. Finally, Principal Financial Group Inc. boosted its position in shares of Builders FirstSource by 38.5% during the third quarter. Principal Financial Group Inc. now owns 201,306 shares of the company’s stock worth $39,025,000 after purchasing an additional 56,009 shares in the last quarter. 95.53% of the stock is currently owned by hedge funds and other 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.