Builders FirstSource (NYSE:BLDR) Upgraded to “Buy” by Truist Financial

Truist Financial upgraded shares of Builders FirstSource (NYSE:BLDR) from a hold rating to a buy rating in a research report released on Monday morning, Marketbeat.com reports. They currently have $220.00 target price on the stock, up from their prior target price of $165.00.

A number of other brokerages have also recently issued reports on BLDR. Jefferies Financial Group restated a buy rating and set a $185.00 target price (down previously from $205.00) on shares of Builders FirstSource in a report on Friday, August 9th. Zelman & Associates restated a hold rating on shares of Builders FirstSource in a report on Monday, June 17th. Bank of America downgraded shares of Builders FirstSource from a buy rating to a neutral rating and lowered their target price for the company from $183.00 to $180.00 in a research note on Friday, August 2nd. Stifel Nicolaus reduced their price target on shares of Builders FirstSource from $217.00 to $195.00 and set a buy rating on the stock in a research report on Thursday, August 8th. Finally, Oppenheimer upped their price objective on shares of Builders FirstSource from $190.00 to $205.00 and gave the company an outperform rating in a research report on Tuesday, September 3rd. Four investment analysts have rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of Moderate Buy and a consensus target price of $187.14.

Builders FirstSource Stock Up 3.8 %

Shares of NYSE:BLDR opened at $201.83 on Monday. The company has a debt-to-equity ratio of 0.88, a current ratio of 1.83 and a quick ratio of 1.14. The stock has a market cap of $24.63 billion, a price-to-earnings ratio of 17.28, a P/E/G ratio of 10.06 and a beta of 2.06. The company has a 50 day moving average of $166.86 and a 200-day moving average of $171.08. Builders FirstSource has a one year low of $105.24 and a one year high of $214.70.

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

Builders FirstSource declared that its board has approved a share buyback program on Tuesday, August 6th that allows the company to buyback $1.00 billion in shares. This buyback authorization allows the company to repurchase up to 5.3% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s board of directors believes its stock is undervalued.

Insider Activity at Builders FirstSource

In other news, Director Craig Arthur Steinke sold 30,000 shares of the company’s stock in a transaction that occurred 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 sale, the director now owns 95,333 shares in the company, valued at approximately $14,650,775.44. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 1.80% of the stock is owned by company insiders.

Institutional Investors Weigh In On Builders FirstSource

A number of institutional investors and hedge funds have recently modified their holdings of BLDR. Vanguard Personalized Indexing Management LLC boosted its position in Builders FirstSource by 0.7% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 10,240 shares of the company’s stock worth $1,417,000 after purchasing an additional 74 shares during the period. First Horizon Advisors Inc. boosted its holdings in shares of Builders FirstSource by 42.1% during the second quarter. First Horizon Advisors Inc. now owns 253 shares of the company’s stock worth $35,000 after acquiring an additional 75 shares during the period. Team Hewins LLC grew its position in shares of Builders FirstSource by 6.5% in the first quarter. Team Hewins LLC now owns 1,313 shares of the company’s stock valued at $274,000 after purchasing an additional 80 shares during the last quarter. Csenge Advisory Group increased its stake in shares of Builders FirstSource by 1.9% during the second quarter. Csenge Advisory Group now owns 4,252 shares of the company’s stock worth $589,000 after purchasing an additional 81 shares during the period. Finally, Congress Wealth Management LLC DE lifted its holdings in Builders FirstSource by 1.4% during the 4th quarter. Congress Wealth Management LLC DE now owns 6,197 shares of the company’s stock worth $1,035,000 after purchasing an additional 85 shares during the last quarter. 95.53% of the stock is owned by institutional investors.

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.