StockNews.com downgraded shares of Builders FirstSource (NYSE:BLDR – Free Report) from a buy rating to a hold rating in a research report sent to investors on Monday morning.
BLDR has been the topic of several other research reports. Royal Bank of Canada lifted their price objective on shares of Builders FirstSource from $178.00 to $187.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 6th. Stephens lifted their price target on shares of Builders FirstSource from $178.00 to $200.00 and gave the stock an “overweight” rating in a research report on Thursday, November 7th. UBS Group started coverage on Builders FirstSource in a research report on Friday, October 25th. They set a “buy” rating and a $232.00 price objective for the company. Bank of America lifted their target price on Builders FirstSource from $165.00 to $198.00 and gave the stock a “neutral” rating in a report on Thursday, September 19th. Finally, Oppenheimer reaffirmed an “outperform” rating and set a $225.00 target price on shares of Builders FirstSource in a research report on Tuesday, October 29th. Four equities research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $208.75.
Get Our Latest Stock Report on Builders FirstSource
Builders FirstSource Stock Performance
Builders FirstSource (NYSE:BLDR – Get Free Report) last issued its quarterly earnings data on Tuesday, November 5th. The company reported $3.07 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.09 by ($0.02). The business had revenue of $4.23 billion for the quarter, compared to analyst estimates of $4.44 billion. Builders FirstSource had a return on equity of 33.55% and a net margin of 7.40%. The business’s quarterly revenue was down 6.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted $4.24 earnings per share. On average, research analysts predict that Builders FirstSource will post 11.55 EPS for the current year.
Insider Buying and Selling
In other news, Director Cleveland A. Christophe sold 10,000 shares of the company’s stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $178.41, for a total transaction of $1,784,100.00. Following the completion of the transaction, the director now owns 33,083 shares of the company’s stock, valued at approximately $5,902,338.03. This represents a 23.21 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 1.80% of the stock is owned by insiders.
Hedge Funds Weigh In On Builders FirstSource
A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Mountaineer Partners Management LLC acquired a new stake in shares of Builders FirstSource in the 3rd quarter valued at $2,099,877,000. FMR LLC boosted its position in Builders FirstSource by 45.7% in the third quarter. FMR LLC now owns 10,158,152 shares of the company’s stock valued at $1,969,259,000 after buying an additional 3,186,876 shares in the last quarter. Baillie Gifford & Co. acquired a new position in Builders FirstSource in the third quarter valued at about $267,132,000. Diamond Hill Capital Management Inc. bought a new stake in Builders FirstSource during the third quarter worth about $255,867,000. Finally, Massachusetts Financial Services Co. MA increased its holdings in shares of 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 buying an additional 911,990 shares in the last quarter. 95.53% of the stock is owned by 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.
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