Builders FirstSource (NYSE:BLDR) Price Target Cut to $80.00 by Analysts at Jefferies Financial Group

Builders FirstSource (NYSE:BLDR) had its price objective trimmed by Jefferies Financial Group from $85.00 to $80.00 in a report issued on Monday,MarketScreener reports. The firm currently has a hold rating on the stock.

BLDR has been the topic of several other reports. Stifel Nicolaus cut their target price on shares of Builders FirstSource from $115.00 to $93.00 and set a “hold” rating on the stock in a research note on Monday, March 16th. Oppenheimer set a $121.00 target price on shares of Builders FirstSource in a research note on Friday. William Blair began coverage on shares of Builders FirstSource in a research note on Thursday, February 26th. They set an “outperform” rating on the stock. Zacks Research downgraded shares of Builders FirstSource from a “hold” rating to a “strong sell” rating in a research note on Friday. Finally, DA Davidson cut their target price on shares of Builders FirstSource from $111.00 to $84.00 and set a “neutral” rating on the stock in a research note on Friday. Nine equities research analysts have rated the stock with a Buy rating, ten have given a Hold rating and four have given a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $101.88.

Builders FirstSource Trading Up 2.6%

Shares of NYSE:BLDR traded up $1.91 during mid-day trading on Monday, hitting $75.66. The stock had a trading volume of 286,469 shares, compared to its average volume of 2,339,169. The company has a debt-to-equity ratio of 1.15, a quick ratio of 1.09 and a current ratio of 1.76. The company has a market cap of $8.37 billion, a PE ratio of 28.99, a P/E/G ratio of 2.35 and a beta of 1.49. Builders FirstSource has a 12-month low of $73.40 and a 12-month high of $151.03. The company’s 50 day moving average is $89.22 and its 200-day moving average is $104.78.

Builders FirstSource (NYSE:BLDR) last announced its earnings results on Thursday, April 30th. The company reported $0.27 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.39 by ($0.12). Builders FirstSource had a net margin of 1.97% and a return on equity of 14.89%. The firm had revenue of $3.29 billion for the quarter, compared to analyst estimates of $3.17 billion. During the same period last year, the firm earned $1.51 earnings per share. Builders FirstSource’s revenue for the quarter was down 10.1% compared to the same quarter last year. On average, sell-side analysts predict that Builders FirstSource will post 5.43 EPS for the current year.

Builders FirstSource declared that its board has authorized a stock buyback plan on Thursday, April 30th that authorizes the company to repurchase $500.00 million in outstanding shares. This repurchase authorization authorizes the company to buy up to 5.4% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board believes its shares are undervalued.

Insiders Place Their Bets

In related news, Director Paul S. Levy acquired 50,000 shares of the company’s stock in a transaction on Friday, March 13th. The shares were purchased at an average price of $87.73 per share, for a total transaction of $4,386,500.00. Following the purchase, the director owned 1,727,191 shares in the company, valued at $151,526,466.43. This represents a 2.98% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 2.70% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the stock. Integrated Wealth Concepts LLC grew its position in Builders FirstSource by 9.3% in the first quarter. Integrated Wealth Concepts LLC now owns 3,460 shares of the company’s stock worth $432,000 after acquiring an additional 295 shares in the last quarter. Woodline Partners LP grew its position in Builders FirstSource by 40.7% in the first quarter. Woodline Partners LP now owns 9,723 shares of the company’s stock worth $1,215,000 after acquiring an additional 2,812 shares in the last quarter. EverSource Wealth Advisors LLC grew its position in Builders FirstSource by 180.0% in the second quarter. EverSource Wealth Advisors LLC now owns 1,582 shares of the company’s stock worth $185,000 after acquiring an additional 1,017 shares in the last quarter. Baird Financial Group Inc. grew its position in Builders FirstSource by 230.7% in the second quarter. Baird Financial Group Inc. now owns 18,942 shares of the company’s stock worth $2,210,000 after acquiring an additional 13,215 shares in the last quarter. Finally, Jump Financial LLC grew its position in Builders FirstSource by 144.1% in the second quarter. Jump Financial LLC now owns 7,223 shares of the company’s stock worth $843,000 after acquiring an additional 4,264 shares in the last quarter. Institutional investors and hedge funds own 95.53% of the company’s stock.

Builders FirstSource Company Profile

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.