Builders FirstSource (NYSE:BLDR) Receives “Outperform” Rating from Oppenheimer

Oppenheimer reiterated their outperform rating on shares of Builders FirstSource (NYSE:BLDR) in a research note issued to investors on Tuesday, Benzinga reports. The firm currently has a $225.00 price target on the stock.

Other equities research analysts have also recently issued reports about the company. Benchmark dropped their price objective on Builders FirstSource from $220.00 to $200.00 and set a “buy” rating on the stock in a research report on Wednesday, August 7th. Barclays raised their target price on shares of Builders FirstSource from $182.00 to $211.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 9th. Truist Financial raised shares of Builders FirstSource from a “hold” rating to a “buy” rating and boosted their target price for the stock from $165.00 to $220.00 in a report on Monday, September 16th. Bank of America raised their price target on Builders FirstSource from $165.00 to $198.00 and gave the company a “neutral” rating in a report on Thursday, September 19th. Finally, Royal Bank of Canada decreased their price objective on Builders FirstSource from $193.00 to $178.00 and set an “outperform” rating on the stock in a research report on Wednesday, August 7th. Four research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $200.35.

Builders FirstSource Price Performance

Shares of BLDR stock opened at $172.02 on Tuesday. Builders FirstSource has a twelve month low of $119.99 and a twelve month high of $214.70. The company has a quick ratio of 1.14, a current ratio of 1.83 and a debt-to-equity ratio of 0.88. The business’s fifty day moving average is $184.65 and its 200 day moving average is $168.68. The stock has a market cap of $20.03 billion, a price-to-earnings ratio of 15.10, a PEG ratio of 10.20 and a beta of 2.06.

Builders FirstSource (NYSE:BLDR) last posted its quarterly earnings results 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 return on equity of 37.05% and a net margin of 8.25%. The firm had revenue of $4.46 billion during the quarter, compared to analyst estimates of $4.48 billion. During the same quarter in the previous year, the firm earned $3.89 EPS. Builders FirstSource’s quarterly revenue was down 1.6% compared to the same quarter last year. Research analysts expect that Builders FirstSource will post 11.69 EPS for the current fiscal year.

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

Insider Activity

In other news, Director Craig Arthur Steinke sold 30,000 shares of the firm’s stock in a transaction dated Thursday, August 8th. The stock was sold at an average price of $153.68, for a total value of $4,610,400.00. Following the transaction, the director now directly owns 95,333 shares in the company, valued at $14,650,775.44. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 1.80% of the company’s stock.

Institutional Investors Weigh In On Builders FirstSource

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Diversified Trust Co bought a new stake in shares of Builders FirstSource during the 1st quarter worth about $559,000. Miracle Mile Advisors LLC acquired a new position in Builders FirstSource in the 1st quarter worth about $691,000. Norden Group LLC bought a new stake in Builders FirstSource in the first quarter worth approximately $265,000. Westside Investment Management Inc. bought a new position in Builders FirstSource during the first quarter valued at about $31,000. Finally, First Trust Direct Indexing L.P. lifted its holdings in Builders FirstSource by 9.9% in the 1st quarter. First Trust Direct Indexing L.P. now owns 3,238 shares of the company’s stock worth $675,000 after purchasing an additional 293 shares during the last quarter. Hedge funds and other institutional investors 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.