Builders FirstSource (NYSE:BLDR) Given New $110.00 Price Target at Oppenheimer

Builders FirstSource (NYSE:BLDR) had its target price cut by equities researchers at Oppenheimer from $121.00 to $110.00 in a research report issued on Thursday,Benzinga reports. The brokerage currently has an “outperform” rating on the stock. Oppenheimer’s target price would suggest a potential upside of 57.84% from the stock’s current price.

Several other research analysts also recently commented on BLDR. Wolfe Research raised shares of Builders FirstSource to a “hold” rating in a report on Thursday, May 14th. Stifel Nicolaus dropped their price target on Builders FirstSource from $76.00 to $70.00 and set a “hold” rating for the company in a research report on Thursday. DA Davidson decreased their price objective on shares of Builders FirstSource from $111.00 to $84.00 and set a “neutral” rating on the stock in a research report on Friday, May 1st. Truist Financial dropped their target price on shares of Builders FirstSource from $145.00 to $115.00 and set a “buy” rating for the company in a research report on Thursday, April 30th. Finally, Robert W. Baird decreased their price target on shares of Builders FirstSource from $125.00 to $95.00 in a report on Friday, May 1st. Nine equities research analysts have rated the stock with a Buy rating, twelve have given a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Builders FirstSource presently has an average rating of “Hold” and a consensus target price of $99.83.

Builders FirstSource Stock Performance

Shares of BLDR traded down $1.34 during mid-day trading on Thursday, hitting $69.69. The stock had a trading volume of 237,472 shares, compared to its average volume of 2,425,603. The business has a fifty day moving average price of $77.12 and a 200-day moving average price of $91.71. Builders FirstSource has a 52 week low of $65.10 and a 52 week high of $151.03. The company has a debt-to-equity ratio of 1.15, a current ratio of 1.76 and a quick ratio of 1.09. The firm has a market cap of $7.50 billion, a P/E ratio of 26.62, a PEG ratio of 1.66 and a beta of 1.42.

Builders FirstSource (NYSE:BLDR) last released its quarterly earnings data on Thursday, April 30th. The company reported $0.27 earnings per share for the quarter, missing analysts’ consensus estimates of $0.39 by ($0.12). The business had revenue of $3.29 billion during the quarter, compared to analysts’ expectations of $3.17 billion. Builders FirstSource had a net margin of 1.97% and a return on equity of 14.89%. The firm’s quarterly revenue was down 10.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.51 earnings per share. On average, equities research analysts expect that Builders FirstSource will post 4.29 EPS for the current year.

Builders FirstSource declared that its Board of Directors has initiated a share repurchase plan on Thursday, April 30th that allows the company to buyback $500.00 million in shares. This buyback authorization allows the company to repurchase up to 5.4% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s board of directors believes its stock is undervalued.

Institutional Trading of Builders FirstSource

Several institutional investors have recently added to or reduced their stakes in the business. Schwartz Investment Counsel Inc. boosted its position in Builders FirstSource by 17.1% during the fourth quarter. Schwartz Investment Counsel Inc. now owns 95,800 shares of the company’s stock valued at $9,857,000 after purchasing an additional 14,000 shares in the last quarter. Eagle Global Advisors LLC raised its stake in shares of Builders FirstSource by 46.3% during the 4th quarter. Eagle Global Advisors LLC now owns 60,242 shares of the company’s stock worth $6,198,000 after acquiring an additional 19,062 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. lifted its position in Builders FirstSource by 10.3% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 238,867 shares of the company’s stock valued at $24,993,000 after acquiring an additional 22,270 shares during the last quarter. Diamond Hill Capital Management Inc. boosted its stake in Builders FirstSource by 13.4% in the fourth quarter. Diamond Hill Capital Management Inc. now owns 1,872,708 shares of the company’s stock valued at $192,683,000 after acquiring an additional 221,641 shares in the last quarter. Finally, Northwestern Mutual Wealth Management Co. increased its position in shares of Builders FirstSource by 99,084.1% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 2,241,561 shares of the company’s stock worth $230,634,000 after purchasing an additional 2,239,301 shares in the last quarter. 95.53% of the stock is currently owned by hedge funds and other institutional investors.

About Builders FirstSource

Builders FirstSource, Inc is a leading supplier of structural and value-added building products and services to professional contractors, homebuilders and remodelers. The company provides a comprehensive range of materials and prefabricated components that support all phases of residential construction, from site development and framing to finishing and installation.

The company’s core offerings include lumber and lumber sheet goods, windows and doors, millwork, roofing and siding, and engineered wood products such as roof and floor trusses.