Builders FirstSource (NYSE:BLDR) Upgraded to “Buy” at Truist Financial

Truist Financial upgraded shares of Builders FirstSource (NYSE:BLDR) from a hold rating to a buy rating in a report issued on Monday, MarketBeat reports. Truist Financial currently has $220.00 price target on the stock, up from their previous price target of $165.00.

A number of other research firms have also weighed in on BLDR. Wedbush reiterated an outperform rating and issued a $175.00 target price on shares of Builders FirstSource in a research note on Tuesday, August 6th. StockNews.com lowered shares of Builders FirstSource from a buy rating to a hold rating in a report on Monday, July 22nd. Oppenheimer upped their target price on shares of Builders FirstSource from $190.00 to $205.00 and gave the stock an outperform rating in a research note on Tuesday, September 3rd. Stifel Nicolaus decreased their price target on shares of Builders FirstSource from $217.00 to $195.00 and set a buy rating for the company in a research note on Thursday, August 8th. Finally, Royal Bank of Canada dropped their price objective on Builders FirstSource from $193.00 to $178.00 and set an outperform rating on the stock in a research note on Wednesday, August 7th. Five analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Builders FirstSource currently has a consensus rating of Moderate Buy and a consensus price target of $184.43.

Builders FirstSource Trading Up 2.4 %

Shares of BLDR opened at $187.65 on Monday. Builders FirstSource has a twelve month low of $105.24 and a twelve month high of $214.70. The company has a current ratio of 1.83, a quick ratio of 1.14 and a debt-to-equity ratio of 0.88. The company’s fifty day simple moving average is $162.36 and its 200-day simple moving average is $170.79. The company has a market cap of $22.90 billion, a P/E ratio of 16.07, a P/E/G ratio of 10.06 and a beta of 2.06.

Builders FirstSource (NYSE:BLDR) last announced its quarterly earnings data on Tuesday, August 6th. The company reported $3.50 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.02 by $0.48. Builders FirstSource had a net margin of 8.25% and a return on equity of 37.05%. The business had revenue of $4.46 billion during the quarter, compared to the consensus estimate of $4.48 billion. During the same quarter last year, the firm earned $3.89 earnings per share. The firm’s quarterly revenue was down 1.6% compared to the same quarter last year. As a group, analysts expect that Builders FirstSource will post 11.65 EPS for the current year.

Builders FirstSource announced that its board has authorized a share repurchase plan on Tuesday, August 6th that permits the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization permits the company to purchase up to 5.3% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s board believes its shares are undervalued.

Insider Transactions at Builders FirstSource

In other Builders FirstSource news, Director Craig Arthur Steinke sold 30,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 8th. The shares were sold at an average price of $153.68, for a total value of $4,610,400.00. Following the completion of the sale, the director now directly owns 95,333 shares in the company, valued at $14,650,775.44. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 1.80% of the company’s stock.

Institutional Investors Weigh In On Builders FirstSource

Several institutional investors have recently added to or reduced their stakes in the business. Sanctuary Advisors LLC purchased a new position in shares of Builders FirstSource in the second quarter worth $4,859,000. Clearbridge Investments LLC acquired a new position in shares of Builders FirstSource in the second quarter valued at about $49,000,000. New Century Financial Group LLC purchased a new position in shares of Builders FirstSource in the second quarter worth about $241,000. 3Chopt Investment Partners LLC purchased a new stake in Builders FirstSource in the second quarter valued at approximately $441,000. Finally, B. Riley Wealth Advisors Inc. acquired a new position in Builders FirstSource in the 2nd quarter worth approximately $383,000. Institutional investors and hedge funds own 95.53% of the company’s stock.

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.