Builders FirstSource (NYSE:BLDR) Downgraded by StockNews.com to Hold

Builders FirstSource (NYSE:BLDR) was downgraded by stock analysts at StockNews.com from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Wednesday.

Other analysts have also issued research reports about the company. Loop Capital boosted their target price on Builders FirstSource from $190.00 to $230.00 and gave the company a “buy” rating in a research report on Friday, September 20th. Oppenheimer reissued an “outperform” rating and issued a $225.00 target price on shares of Builders FirstSource in a research report on Tuesday, October 29th. The Goldman Sachs Group began coverage on Builders FirstSource in a research report on Thursday, October 10th. They issued a “buy” rating and a $225.00 target price on the stock. Stifel Nicolaus cut their target price on 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, Robert W. Baird boosted their price target on shares of Builders FirstSource from $190.00 to $222.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 16th. Five equities research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $206.88.

Builders FirstSource Trading Down 2.3 %

Shares of BLDR stock traded down $4.21 during trading on Wednesday, hitting $176.78. 3,329,234 shares of the stock traded hands, compared to its average volume of 1,577,671. The firm has a market capitalization of $20.59 billion, a P/E ratio of 15.52, a price-to-earnings-growth ratio of 10.15 and a beta of 2.08. 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 firm’s fifty day moving average price is $184.58 and its 200-day moving average price is $168.44. Builders FirstSource has a 52-week low of $120.80 and a 52-week high of $214.70.

Builders FirstSource (NYSE:BLDR) last announced its earnings results on Tuesday, November 5th. The company reported $3.07 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.09 by ($0.02). The firm had revenue of $4.23 billion during the quarter, compared to analysts’ expectations of $4.44 billion. Builders FirstSource had a net margin of 8.25% and a return on equity of 37.05%. The firm’s revenue for the quarter was down 6.7% compared to the same quarter last year. During the same period in the previous year, the firm earned $4.24 EPS. As a group, research analysts forecast that Builders FirstSource will post 11.69 earnings per share for the current fiscal year.

Builders FirstSource declared that its Board of Directors has approved a share repurchase program 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 programs are usually an indication that the company’s management believes its stock is undervalued.

Insider Buying and Selling

In related 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 completion of the transaction, the director now owns 95,333 shares in the company, valued at approximately $14,650,775.44. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 1.80% of the company’s stock.

Hedge Funds Weigh In On Builders FirstSource

Large investors have recently bought and sold shares of the stock. Armstrong Advisory Group Inc. acquired a new position in Builders FirstSource in the third quarter valued at $30,000. ORG Partners LLC acquired a new position in Builders FirstSource in the first quarter valued at $33,000. Innealta Capital LLC acquired a new position in Builders FirstSource in the second quarter valued at $27,000. Reston Wealth Management LLC acquired a new position in Builders FirstSource in the third quarter valued at $39,000. Finally, First Horizon Advisors Inc. raised its holdings in shares of Builders FirstSource by 42.1% in the second quarter. First Horizon Advisors Inc. now owns 253 shares of the company’s stock valued at $35,000 after buying an additional 75 shares during the last quarter. Institutional investors and hedge funds own 95.53% of the company’s stock.

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.