Oppenheimer Increases Builders FirstSource (NYSE:BLDR) Price Target to $225.00

Builders FirstSource (NYSE:BLDR) had its target price lifted by equities researchers at Oppenheimer from $205.00 to $225.00 in a research report issued to clients and investors on Wednesday, Benzinga reports. The firm presently has an “outperform” rating on the stock. Oppenheimer’s target price points to a potential upside of 16.05% from the stock’s current price.

A number of other research analysts have also recently issued reports on BLDR. Wedbush reissued an “outperform” rating and issued a $175.00 target price on shares of Builders FirstSource in a research note on Tuesday, August 6th. Stifel Nicolaus dropped their target price on shares of Builders FirstSource from $217.00 to $195.00 and set a “buy” rating on the stock in a report on Thursday, August 8th. Zelman & Associates reiterated a “hold” rating on shares of Builders FirstSource in a report on Monday, June 17th. Baird R W raised shares of Builders FirstSource from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, August 7th. Finally, Bank of America lowered shares of Builders FirstSource from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $183.00 to $180.00 in a research note on Friday, August 2nd. Four investment analysts have rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $185.86.

Builders FirstSource Trading Up 3.3 %

BLDR stock opened at $193.89 on Wednesday. The business has a fifty day moving average price of $164.61 and a 200 day moving average price of $170.70. The stock has a market capitalization of $23.67 billion, a price-to-earnings ratio of 16.60, a P/E/G ratio of 10.06 and a beta of 2.06. The company has a debt-to-equity ratio of 0.88, a current ratio of 1.83 and a quick ratio of 1.14. Builders FirstSource has a fifty-two week low of $105.24 and a fifty-two week high of $214.70.

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

Builders FirstSource announced that its board has approved a stock buyback plan on Tuesday, August 6th that permits the company to buyback $1.00 billion in shares. This buyback authorization permits the company to buy up to 5.3% of its stock through open market purchases. Stock buyback plans are usually an indication that the company’s leadership believes its stock is undervalued.

Insider Buying and Selling

In other Builders FirstSource news, Director Craig Arthur Steinke sold 30,000 shares of the firm’s stock in a transaction on Thursday, August 8th. The shares were sold at an average price of $153.68, for a total value of $4,610,400.00. Following the transaction, the director now directly owns 95,333 shares of the company’s stock, valued at $14,650,775.44. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 1.80% of the stock is owned by company insiders.

Institutional Investors Weigh In On Builders FirstSource

Institutional investors and hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. lifted its position in shares of Builders FirstSource by 15.7% during the fourth quarter. Vanguard Group Inc. now owns 14,668,049 shares of the company’s stock valued at $2,448,684,000 after purchasing an additional 1,985,297 shares in the last quarter. Norges Bank purchased a new stake in shares of Builders FirstSource during the fourth quarter valued at approximately $212,209,000. Massachusetts Financial Services Co. MA lifted its holdings in 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 acquiring an additional 911,990 shares during the period. Bessemer Group Inc. boosted its holdings in shares of Builders FirstSource by 477,028.7% in the 1st quarter. Bessemer Group Inc. now owns 448,501 shares of the company’s stock worth $93,535,000 after buying an additional 448,407 shares during the last quarter. Finally, Clearbridge Investments LLC bought a new position in shares of Builders FirstSource during the 2nd quarter valued at approximately $49,000,000. 95.53% of the stock is 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.