Oppenheimer Boosts Builders FirstSource (NYSE:BLDR) Price Target to $205.00

Builders FirstSource (NYSE:BLDR) had its price target hoisted by Oppenheimer from $190.00 to $205.00 in a report published on Tuesday morning, Benzinga reports. They currently have an outperform rating on the stock.

Several other equities analysts have also commented on BLDR. Jefferies Financial Group reaffirmed a buy rating and set a $185.00 price target (down previously from $205.00) on shares of Builders FirstSource in a research report on Friday, August 9th. Royal Bank of Canada decreased their price objective on shares of Builders FirstSource from $193.00 to $178.00 and set an outperform rating for the company in a research note on Wednesday, August 7th. Stifel Nicolaus dropped their price objective on shares of Builders FirstSource from $217.00 to $195.00 and set a buy rating for the company in a research report on Thursday, August 8th. Benchmark reduced their target price on shares of Builders FirstSource from $220.00 to $200.00 and set a buy rating on the stock in a report on Wednesday, August 7th. Finally, Robert W. Baird upgraded Builders FirstSource from a neutral rating to an outperform rating and increased their price target for the company from $185.00 to $190.00 in a report on Wednesday, August 7th. Six research analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Builders FirstSource has an average rating of Moderate Buy and an average price target of $181.57.

Builders FirstSource Stock Down 0.7 %

BLDR opened at $167.67 on Tuesday. The business’s fifty day simple moving average is $157.82 and its 200 day simple moving average is $171.68. Builders FirstSource has a 52 week low of $105.24 and a 52 week high of $214.70. The firm has a market cap of $20.47 billion, a P/E ratio of 14.36, a PEG ratio of 10.07 and a beta of 2.04. 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 (NYSE:BLDR) last issued its quarterly earnings results on Tuesday, August 6th. The company reported $3.50 earnings per share for the quarter, topping analysts’ consensus estimates of $3.02 by $0.48. The company had revenue of $4.46 billion for the quarter, compared to analyst estimates of $4.48 billion. Builders FirstSource had a return on equity of 37.05% and a net margin of 8.25%. The business’s revenue for the quarter was down 1.6% compared to the same quarter last year. During the same quarter in the prior year, the company posted $3.89 EPS. As a group, equities research analysts anticipate that Builders FirstSource will post 11.91 EPS for the current fiscal year.

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

Insider Activity

In related news, Director Craig Arthur Steinke sold 30,000 shares of the firm’s stock in a transaction on Thursday, August 8th. The stock was 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 in the company, valued at $14,650,775.44. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 1.80% of the company’s stock.

Institutional Trading of Builders FirstSource

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Sanctuary Advisors LLC acquired a new stake in shares of Builders FirstSource in the second quarter valued at approximately $4,859,000. Clearbridge Investments LLC acquired a new stake in Builders FirstSource in the 2nd quarter valued at approximately $49,000,000. New Century Financial Group LLC bought a new stake in Builders FirstSource during the 2nd quarter valued at $241,000. 3Chopt Investment Partners LLC acquired a new position in Builders FirstSource during the 2nd quarter worth $441,000. Finally, B. Riley Wealth Advisors Inc. bought a new position in shares of Builders FirstSource in the second quarter worth $383,000. 95.53% of the stock is currently owned by institutional investors and hedge funds.

Builders FirstSource Company Profile

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.