DA Davidson Analysts Decrease Earnings Estimates for BLDR

Builders FirstSource, Inc. (NYSE:BLDR) – Investment analysts at DA Davidson decreased their FY2024 EPS estimates for Builders FirstSource in a research note issued to investors on Wednesday, November 6th. DA Davidson analyst K. Yinger now forecasts that the company will earn $11.56 per share for the year, down from their prior estimate of $11.76. DA Davidson has a “Neutral” rating and a $175.00 price target on the stock. The consensus estimate for Builders FirstSource’s current full-year earnings is $11.64 per share.

Builders FirstSource (NYSE:BLDR) last issued its quarterly earnings data on Tuesday, November 5th. The company reported $3.07 EPS for the quarter, missing analysts’ consensus estimates of $3.09 by ($0.02). Builders FirstSource had a net margin of 7.40% and a return on equity of 33.55%. The company had revenue of $4.23 billion for the quarter, compared to analyst estimates of $4.44 billion. During the same period in the prior year, the company posted $4.24 EPS. The business’s revenue was down 6.7% on a year-over-year basis.

BLDR has been the topic of a number of other reports. Barclays raised their target price on shares of Builders FirstSource from $182.00 to $211.00 and gave the company an “overweight” rating in a research note on Wednesday, October 9th. Bank of America lifted their price objective on Builders FirstSource from $165.00 to $198.00 and gave the stock a “neutral” rating in a research note on Thursday, September 19th. Loop Capital increased their target price on Builders FirstSource from $190.00 to $230.00 and gave the company a “buy” rating in a research note on Friday, September 20th. Stephens lifted their price target on Builders FirstSource from $178.00 to $200.00 and gave the stock an “overweight” rating in a research report on Thursday. Finally, Royal Bank of Canada upped their price target on Builders FirstSource from $178.00 to $187.00 and gave the stock an “outperform” rating in a report on Wednesday. Five research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Builders FirstSource has a consensus rating of “Moderate Buy” and an average target price of $206.47.

Builders FirstSource Trading Down 0.5 %

Shares of BLDR stock opened at $178.35 on Friday. The business’s 50 day moving average is $184.79 and its two-hundred day moving average is $168.38. The company has a quick ratio of 1.14, a current ratio of 1.77 and a debt-to-equity ratio of 0.83. Builders FirstSource has a 12 month low of $120.80 and a 12 month high of $214.70. The company has a market cap of $20.52 billion, a PE ratio of 17.42, a price-to-earnings-growth ratio of 10.48 and a beta of 2.08.

Hedge Funds Weigh In On Builders FirstSource

A number of institutional investors and hedge funds have recently added to or reduced their stakes in BLDR. Innealta Capital LLC bought a new position in shares of Builders FirstSource in the second quarter valued at about $27,000. Armstrong Advisory Group Inc. acquired a new stake in Builders FirstSource during the 3rd quarter worth $30,000. ORG Partners LLC bought a new stake in Builders FirstSource in the first quarter valued at about $33,000. First Horizon Advisors Inc. grew its holdings in Builders FirstSource by 42.1% during the second quarter. First Horizon Advisors Inc. now owns 253 shares of the company’s stock valued at $35,000 after purchasing an additional 75 shares during the period. Finally, New Millennium Group LLC bought a new stake in shares of Builders FirstSource in the 2nd quarter valued at $38,000. 95.53% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Builders FirstSource

In other news, Director Cleveland A. Christophe sold 10,000 shares of the stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $178.41, for a total value of $1,784,100.00. Following the completion of the transaction, the director now directly owns 33,083 shares of the company’s stock, valued at approximately $5,902,338.03. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 1.80% of the company’s stock.

Builders FirstSource declared that its Board of Directors has authorized a share buyback plan on Tuesday, August 6th that authorizes the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization authorizes the company to buy up to 5.3% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s board believes its stock is undervalued.

About Builders FirstSource

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.