What is DA Davidson’s Forecast for BLDR FY2024 Earnings?

Builders FirstSource, Inc. (NYSE:BLDR) – DA Davidson lowered their FY2024 EPS estimates for Builders FirstSource in a research report issued on Wednesday, November 6th. DA Davidson analyst K. Yinger now anticipates that the company will earn $11.56 per share for the year, down from their previous forecast of $11.76. DA Davidson currently has a “Neutral” rating and a $175.00 target price on the stock. The consensus estimate for Builders FirstSource’s current full-year earnings is $11.64 per share.

BLDR has been the topic of a number of other research reports. Jefferies Financial Group upped their target price on shares of Builders FirstSource from $185.00 to $223.00 and gave the company a “buy” rating in a research report on Wednesday, October 9th. Royal Bank of Canada increased their price objective on shares of Builders FirstSource from $178.00 to $187.00 and gave the company an “outperform” rating in a research report on Wednesday. Wedbush reissued an “outperform” rating and set a $230.00 target price on shares of Builders FirstSource in a research report on Wednesday. The Goldman Sachs Group initiated coverage on Builders FirstSource in a research note on Thursday, October 10th. They issued a “buy” rating and a $225.00 price objective for the company. Finally, Baird R W raised Builders FirstSource from a “hold” rating to a “strong-buy” rating in a report on Wednesday, August 7th. Five research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $206.47.

Builders FirstSource Stock Down 0.5 %

Shares of NYSE BLDR opened at $178.35 on Friday. Builders FirstSource has a 12-month low of $120.80 and a 12-month high of $214.70. The stock has a market cap of $20.52 billion, a PE ratio of 17.42, a P/E/G ratio of 10.48 and a beta of 2.08. The company has a current ratio of 1.77, a quick ratio of 1.14 and a debt-to-equity ratio of 0.83. The company has a 50-day moving average of $184.79 and a 200 day moving average of $168.38.

Builders FirstSource (NYSE:BLDR) last announced its quarterly 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). Builders FirstSource had a return on equity of 33.55% and a net margin of 7.40%. The firm had revenue of $4.23 billion for the quarter, compared to analysts’ expectations of $4.44 billion. During the same period last year, the company posted $4.24 earnings per share. The business’s quarterly revenue was down 6.7% on a year-over-year basis.

Institutional Trading of Builders FirstSource

Several large investors have recently added to or reduced their stakes in the business. Innealta Capital LLC acquired a new position in shares of Builders FirstSource during the 2nd quarter valued at $27,000. Armstrong Advisory Group Inc. bought a new position in shares of Builders FirstSource in the third quarter valued at $30,000. ORG Partners LLC acquired a new stake in shares of Builders FirstSource during the 1st quarter valued at $33,000. First Horizon Advisors Inc. boosted its stake in shares of Builders FirstSource by 42.1% during the 2nd quarter. First Horizon Advisors Inc. now owns 253 shares of the company’s stock worth $35,000 after acquiring an additional 75 shares in the last quarter. Finally, New Millennium Group LLC acquired a new position in shares of Builders FirstSource in the 2nd quarter worth $38,000. 95.53% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, Director Cleveland A. Christophe sold 10,000 shares of the stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $178.41, for a total transaction of $1,784,100.00. Following the sale, the director now directly owns 33,083 shares in the company, valued at approximately $5,902,338.03. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.80% of the stock is currently owned by company insiders.

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

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.