Builders FirstSource (NYSE:BLDR) Shares Up 6.9% – Here’s What Happened

Builders FirstSource, Inc. (NYSE:BLDR)’s stock price traded up 6.9% on Thursday. The stock traded as high as $53.77 and last traded at $54.0030. 1,174,249 shares changed hands during trading, a decline of 53% from the average session volume of 2,519,394 shares. The stock had previously closed at $50.52.

Analysts Set New Price Targets

A number of brokerages have recently commented on BLDR. Robert W. Baird set a $75.00 price target on shares of Builders FirstSource in a report on Friday, July 31st. DA Davidson set a $68.00 target price on shares of Builders FirstSource in a report on Friday, July 31st. Deutsche Bank Aktiengesellschaft set a $66.00 target price on shares of Builders FirstSource in a report on Friday, July 31st. Wells Fargo & Company cut their price target on shares of Builders FirstSource from $63.00 to $55.00 and set an “equal weight” rating on the stock in a research report on Friday. Finally, Citigroup reiterated a “market perform” rating on shares of Builders FirstSource in a report on Thursday, October 8th. Nine research analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and three have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Builders FirstSource has an average rating of “Hold” and a consensus target price of $83.54.

Builders FirstSource Price Performance

The stock has a market capitalization of $5.89 billion, a P/E ratio of 60.15, a PEG ratio of 1.75 and a beta of 1.45. The business has a fifty day simple moving average of $62.10 and a 200-day simple moving average of $72.68. The company has a debt-to-equity ratio of 1.14, a quick ratio of 1.09 and a current ratio of 1.79.

Builders FirstSource (NYSE:BLDR) last announced its quarterly earnings data on Thursday, July 30th. The company reported $1.17 EPS for the quarter, missing the consensus estimate of $1.25 by ($0.08). The company had revenue of $3.86 billion for the quarter, compared to analyst estimates of $3.91 billion. Builders FirstSource had a return on equity of 11.73% and a net margin of 0.71%. The business’s quarterly revenue was down 8.8% compared to the same quarter last year. During the same period last year, the business earned $2.38 EPS. Sell-side analysts expect that Builders FirstSource, Inc. will post 3.13 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Builders FirstSource

A number of institutional investors and hedge funds have recently made changes to their positions in BLDR. Sunbelt Securities Inc. grew its position in Builders FirstSource by 508.5% in the 1st quarter. Sunbelt Securities Inc. now owns 359 shares of the company’s stock valued at $30,000 after purchasing an additional 300 shares during the period. Root Financial Partners LLC boosted its position in shares of Builders FirstSource by 43.6% during the first quarter. Root Financial Partners LLC now owns 372 shares of the company’s stock valued at $31,000 after buying an additional 113 shares during the last quarter. Allworth Financial LP bought a new stake in Builders FirstSource during the second quarter worth $42,000. Continuum Advisory LLC bought a new stake in Builders FirstSource during the second quarter worth $48,000. Finally, Global Retirement Partners LLC bought a new stake in Builders FirstSource during the second quarter worth $49,000. Institutional investors own 95.53% of the company’s stock.

About Builders FirstSource

Builders FirstSource, Inc (NYSE: BLDR) is a supplier and manufacturer of building materials, manufactured components and construction services for professional homebuilders, contractors, remodelers and other construction professionals in the United States. The company serves customers through a network of locations across the country and supports both residential and selected commercial construction projects.

Its product offerings include lumber and other structural materials, engineered wood products, windows, interior and exterior doors, roofing, siding, cabinets, flooring and related building supplies.