Builders FirstSource (NYSE:BLDR) Coverage Initiated at Citizens Jmp

Equities research analysts at Citizens Jmp started coverage on shares of Builders FirstSource (NYSE:BLDR) in a research report issued on Friday,Benzinga reports. The firm set a “market perform” rating on the stock.

Several other equities analysts have also recently weighed in on BLDR. Loop Capital dropped their price objective on Builders FirstSource from $140.00 to $110.00 in a research note on Friday, May 1st. Benchmark lowered their target price on shares of Builders FirstSource from $105.00 to $100.00 and set a “buy” rating for the company in a report on Thursday, July 23rd. The Goldman Sachs Group dropped their price target on shares of Builders FirstSource from $110.00 to $101.00 in a research report on Friday, May 1st. Zacks Research cut shares of Builders FirstSource from a “hold” rating to a “strong sell” rating in a report on Monday, August 3rd. Finally, Wolfe Research upgraded shares of Builders FirstSource to a “hold” rating in a research note on Thursday, May 14th. Nine equities research analysts have rated the stock with a Buy rating, thirteen have issued a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $90.35.

Builders FirstSource Stock Performance

Shares of BLDR opened at $70.31 on Friday. The company has a debt-to-equity ratio of 1.14, a quick ratio of 1.09 and a current ratio of 1.79. The stock has a 50 day moving average price of $76.12 and a two-hundred day moving average price of $84.69. The firm has a market capitalization of $7.57 billion, a P/E ratio of 77.26, a P/E/G ratio of 2.35 and a beta of 1.44. Builders FirstSource has a 52 week low of $65.10 and a 52 week high of $151.03.

Builders FirstSource (NYSE:BLDR) last posted its earnings results on Thursday, July 30th. The company reported $1.17 earnings per share for the quarter, missing analysts’ consensus estimates of $1.25 by ($0.08). The company had revenue of $3.86 billion during the quarter, compared to the consensus estimate of $3.91 billion. Builders FirstSource had a net margin of 0.71% and a return on equity of 11.73%. The firm’s revenue for the quarter was down 8.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.38 EPS. Equities analysts forecast that Builders FirstSource will post 3.15 earnings per share for the current fiscal year.

Builders FirstSource announced that its Board of Directors has initiated a share repurchase program on Thursday, April 30th that permits the company to repurchase $500.00 million in outstanding shares. This repurchase authorization permits the company to purchase up to 5.4% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s management believes its stock is undervalued.

Institutional Trading of Builders FirstSource

A number of hedge funds have recently made changes to their positions in the stock. BlackRock Inc. purchased a new stake in shares of Builders FirstSource in the 2nd quarter valued at $700,934,000. State Street Corp boosted its stake in shares of Builders FirstSource by 2.3% during the fourth quarter. State Street Corp now owns 5,108,120 shares of the company’s stock valued at $525,574,000 after purchasing an additional 115,857 shares during the period. Wellington Management Group LLP increased its stake in shares of Builders FirstSource by 2.3% in the fourth quarter. Wellington Management Group LLP now owns 3,316,797 shares of the company’s stock worth $341,265,000 after buying an additional 73,835 shares during the period. Dimensional Fund Advisors LP raised its holdings in Builders FirstSource by 12.3% during the 1st quarter. Dimensional Fund Advisors LP now owns 2,967,744 shares of the company’s stock valued at $244,301,000 after buying an additional 325,935 shares during the last quarter. Finally, Geode Capital Management LLC boosted its position in Builders FirstSource by 0.5% during the 4th quarter. Geode Capital Management LLC now owns 2,817,958 shares of the company’s stock valued at $288,789,000 after buying an additional 14,420 shares during the period. 95.53% of the stock is owned by institutional investors.

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.