Builders FirstSource (NYSE:BLDR) Shares Gap Up After Analyst Upgrade

Builders FirstSource, Inc. (NYSE:BLDR)’s stock price gapped up prior to trading on Thursday after Jefferies Financial Group raised their price target on the stock from $226.00 to $237.00. The stock had previously closed at $179.31, but opened at $184.44. Jefferies Financial Group currently has a buy rating on the stock. Builders FirstSource shares last traded at $183.63, with a volume of 151,998 shares changing hands.

BLDR has been the subject of a number of other research reports. StockNews.com upgraded shares of Builders FirstSource from a “hold” rating to a “buy” rating in a research note on Wednesday, February 21st. DA Davidson reaffirmed a “neutral” rating and set a $185.00 price objective on shares of Builders FirstSource in a report on Thursday, March 28th. Royal Bank of Canada increased their price objective on Builders FirstSource from $186.00 to $211.00 and gave the company an “outperform” rating in a research report on Friday, February 23rd. Wedbush boosted their target price on Builders FirstSource from $175.00 to $225.00 and gave the stock an “outperform” rating in a research report on Monday, February 12th. Finally, Truist Financial upped their price target on Builders FirstSource from $185.00 to $190.00 and gave the company a “hold” rating in a research note on Friday, February 23rd. Four research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat, Builders FirstSource currently has a consensus rating of “Moderate Buy” and an average target price of $190.06.

Insider Buying and Selling at Builders FirstSource

In other Builders FirstSource news, Director Cory Jacobs Boydston sold 7,759 shares of the stock in a transaction dated Tuesday, March 12th. The stock was sold at an average price of $200.00, for a total value of $1,551,800.00. Following the transaction, the director now owns 28,738 shares of the company’s stock, valued at $5,747,600. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders own 1.90% of the company’s stock.

Hedge Funds Weigh In On Builders FirstSource

Several hedge funds have recently added to or reduced their stakes in BLDR. EdgeRock Capital LLC acquired a new position in Builders FirstSource in the fourth quarter valued at about $25,000. Contravisory Investment Management Inc. acquired a new stake in shares of Builders FirstSource during the fourth quarter worth about $28,000. Rakuten Securities Inc. acquired a new stake in shares of Builders FirstSource during the fourth quarter worth about $29,000. Rock Creek Group LP acquired a new stake in shares of Builders FirstSource during the third quarter worth about $30,000. Finally, BluePath Capital Management LLC acquired a new stake in shares of Builders FirstSource during the third quarter worth about $31,000. Institutional investors and hedge funds own 95.53% of the company’s stock.

Builders FirstSource Stock Performance

The company has a market cap of $22.61 billion, a price-to-earnings ratio of 15.43, a price-to-earnings-growth ratio of 1.11 and a beta of 2.04. The company has a debt-to-equity ratio of 0.67, a current ratio of 1.77 and a quick ratio of 1.11. The stock has a 50-day moving average price of $195.53 and a 200 day moving average price of $162.25.

Builders FirstSource (NYSE:BLDR) last posted its quarterly earnings data on Thursday, February 22nd. The company reported $3.55 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.70 by $0.85. The business had revenue of $4.15 billion during the quarter, compared to the consensus estimate of $4.01 billion. Builders FirstSource had a return on equity of 41.10% and a net margin of 9.01%. As a group, analysts anticipate that Builders FirstSource, Inc. will post 13.84 EPS for the current fiscal year.

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.