Builders FirstSource (NYSE:BLDR) Rating Lowered to “Hold” at StockNews.com

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

BLDR has been the topic of several other reports. Royal Bank of Canada boosted their price objective on shares of Builders FirstSource from $178.00 to $187.00 and gave the company an “outperform” rating in a research note on Wednesday. Baird R W upgraded shares of Builders FirstSource from a “hold” rating to a “strong-buy” rating in a report on Wednesday, August 7th. Wedbush reiterated an “outperform” rating and set a $230.00 price objective on shares of Builders FirstSource in a report on Wednesday. The Goldman Sachs Group started coverage on shares of Builders FirstSource in a report on Thursday, October 10th. They issued a “buy” rating and a $225.00 price target on the stock. Finally, Truist Financial raised shares of Builders FirstSource from a “hold” rating to a “buy” rating and raised their price target for the stock from $165.00 to $220.00 in a research report on Monday, September 16th. Five research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $206.47.

Builders FirstSource Price Performance

Shares of NYSE BLDR opened at $179.09 on Wednesday. Builders FirstSource has a one year low of $120.80 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 firm has a fifty day moving average of $184.71 and a 200 day moving average of $168.52. The firm has a market cap of $20.86 billion, a PE ratio of 15.72, a PEG ratio of 10.17 and a beta of 2.08.

Builders FirstSource (NYSE:BLDR) last issued its earnings results on Tuesday, November 5th. The company reported $3.07 EPS for the quarter, missing analysts’ consensus estimates of $3.09 by ($0.02). Builders FirstSource had a return on equity of 37.05% and a net margin of 8.25%. 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 firm earned $4.24 earnings per share. Builders FirstSource’s revenue for the quarter was down 6.7% on a year-over-year basis. As a group, research analysts predict that Builders FirstSource will post 11.69 EPS for the current fiscal year.

Builders FirstSource announced that its Board of Directors has approved a share buyback plan 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 shares through open market purchases. Shares buyback plans are typically a sign that the company’s management believes its stock is undervalued.

Hedge Funds Weigh In On Builders FirstSource

Institutional investors and hedge funds have recently bought and sold shares of the company. Baillie Gifford & Co. purchased a new position in shares of Builders FirstSource in the third quarter worth about $267,132,000. Diamond Hill Capital Management Inc. bought a new stake in Builders FirstSource during the 3rd quarter valued at approximately $255,867,000. Massachusetts Financial Services Co. MA boosted its position in shares of Builders FirstSource by 339.8% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 1,180,358 shares of the company’s stock worth $163,373,000 after purchasing an additional 911,990 shares in the last quarter. Robeco Institutional Asset Management B.V. boosted its position in shares of Builders FirstSource by 109.7% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 904,600 shares of the company’s stock worth $175,366,000 after purchasing an additional 473,238 shares in the last quarter. Finally, Bessemer Group Inc. raised its holdings in Builders FirstSource by 477,028.7% in the 1st 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. 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.