Builders FirstSource (NYSE:BLDR) Earns Buy Rating from Analysts at UBS Group

Equities research analysts at UBS Group assumed coverage on shares of Builders FirstSource (NYSE:BLDR) in a report issued on Friday, Marketbeat Ratings reports. The firm set a “buy” rating and a $232.00 price target on the stock. UBS Group’s price target indicates a potential upside of 28.32% from the stock’s current price.

BLDR has been the subject of several other reports. Truist Financial raised shares of Builders FirstSource from a “hold” rating to a “buy” rating and increased their price target for the stock from $165.00 to $220.00 in a report on Monday, September 16th. B. Riley cut their price target on shares of Builders FirstSource from $197.00 to $187.00 and set a “buy” rating for the company in a report on Wednesday, August 7th. Oppenheimer increased their price target on shares of Builders FirstSource from $205.00 to $225.00 and gave the stock an “outperform” rating in a report on Wednesday, September 18th. StockNews.com raised shares of Builders FirstSource from a “hold” rating to a “buy” rating in a report on Monday, September 23rd. Finally, Jefferies Financial Group increased their price target on shares of Builders FirstSource from $185.00 to $223.00 and gave the stock a “buy” rating in a report on Wednesday, October 9th. Four analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $200.35.

Builders FirstSource Price Performance

Shares of NYSE:BLDR opened at $180.80 on Friday. The company has a 50-day simple moving average of $183.91 and a 200-day simple moving average of $168.92. Builders FirstSource has a one year low of $105.24 and a one year high of $214.70. The company has a debt-to-equity ratio of 0.88, a quick ratio of 1.14 and a current ratio of 1.83. The stock has a market capitalization of $22.07 billion, a price-to-earnings ratio of 15.48, a PEG ratio of 11.48 and a beta of 2.06.

Builders FirstSource (NYSE:BLDR) last announced its earnings results on Tuesday, August 6th. The company reported $3.50 EPS for the quarter, beating analysts’ consensus estimates of $3.02 by $0.48. Builders FirstSource had a net margin of 8.25% and a return on equity of 37.05%. The business had revenue of $4.46 billion during the quarter, compared to analysts’ expectations of $4.48 billion. During the same period in the prior year, the company earned $3.89 earnings per share. The business’s revenue was down 1.6% compared to the same quarter last year. On average, analysts predict that Builders FirstSource will post 11.68 EPS for the current year.

Builders FirstSource announced that its board has approved a stock repurchase plan on Tuesday, August 6th that allows the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization allows the company to purchase up to 5.3% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s board of directors believes its shares are undervalued.

Insider Activity

In other news, Director Craig Arthur Steinke sold 30,000 shares of the stock in a transaction that occurred 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 sale, the director now directly owns 95,333 shares in the company, valued at $14,650,775.44. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 1.80% of the company’s stock.

Institutional Trading of Builders FirstSource

A number of hedge funds have recently bought and sold shares of BLDR. Massachusetts Financial Services Co. MA boosted its position 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 last quarter. Bessemer Group Inc. boosted its position in Builders FirstSource by 477,028.7% during the first quarter. Bessemer Group Inc. now owns 448,501 shares of the company’s stock worth $93,535,000 after acquiring an additional 448,407 shares during the last quarter. Clearbridge Investments LLC purchased a new position in Builders FirstSource during the second quarter worth approximately $49,000,000. Oakworth Capital Inc. purchased a new position in Builders FirstSource during the third quarter worth approximately $40,955,000. Finally, Bank of New York Mellon Corp raised its stake in Builders FirstSource by 22.7% during the second quarter. Bank of New York Mellon Corp now owns 1,062,488 shares of the company’s stock worth $147,059,000 after purchasing an additional 196,571 shares during the period. Institutional investors and hedge funds own 95.53% of the company’s stock.

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.