Builders FirstSource (NASDAQ:BLDR) Downgraded by BidaskClub

BidaskClub downgraded shares of Builders FirstSource (NASDAQ:BLDR) from a buy rating to a hold rating in a research note released on Saturday, BidAskClub reports.

A number of other equities analysts have also weighed in on BLDR. Zacks Investment Research upgraded Builders FirstSource from a sell rating to a hold rating in a research note on Monday, June 8th. DA Davidson reiterated a buy rating and set a $20.00 price objective (down previously from $33.00) on shares of Builders FirstSource in a research note on Thursday, April 9th. Wedbush lifted their price objective on Builders FirstSource from $23.00 to $28.00 and gave the company an outperform rating in a research note on Friday, June 5th. B. Riley cut their price target on Builders FirstSource from $16.00 to $14.00 and set a neutral rating for the company in a research note on Monday, May 4th. Finally, Royal Bank of Canada restated a buy rating and issued a $20.00 price target on shares of Builders FirstSource in a research note on Sunday, May 3rd. One analyst has rated the stock with a sell rating, six have issued a hold rating and ten have given a buy rating to the company’s stock. The stock currently has an average rating of Buy and a consensus target price of $21.79.

NASDAQ BLDR opened at $20.70 on Friday. The stock has a 50-day simple moving average of $20.41 and a two-hundred day simple moving average of $20.92. The firm has a market capitalization of $2.41 billion, a P/E ratio of 12.47 and a beta of 2.47. Builders FirstSource has a fifty-two week low of $9.00 and a fifty-two week high of $28.43. The company has a debt-to-equity ratio of 1.85, a quick ratio of 1.12 and a current ratio of 1.87.

Builders FirstSource (NASDAQ:BLDR) last released its quarterly earnings data on Thursday, April 30th. The company reported $0.34 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.28 by $0.06. The business had revenue of $1.79 billion during the quarter, compared to analyst estimates of $1.77 billion. Builders FirstSource had a return on equity of 31.26% and a net margin of 2.62%. The company’s revenue was up 9.5% on a year-over-year basis. During the same quarter last year, the business posted $0.34 EPS. As a group, analysts forecast that Builders FirstSource will post 1.17 earnings per share for the current year.

In other Builders FirstSource news, Director Floyd F. Sherman sold 45,903 shares of the business’s stock in a transaction that occurred on Friday, May 15th. The stock was sold at an average price of $16.05, for a total transaction of $736,743.15. Following the completion of the sale, the director now directly owns 147,771 shares in the company, valued at approximately $2,371,724.55. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Director Floyd F. Sherman sold 14,097 shares of the business’s stock in a transaction that occurred on Monday, May 18th. The stock was sold at an average price of $17.75, for a total value of $250,221.75. Following the sale, the director now owns 147,771 shares of the company’s stock, valued at $2,622,935.25. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 103,000 shares of company stock valued at $1,951,715. 1.80% of the stock is owned by company insiders.

Several institutional investors have recently modified their holdings of BLDR. Vaughan Nelson Investment Management L.P. acquired a new position in shares of Builders FirstSource during the 1st quarter worth approximately $21,676,000. Norges Bank acquired a new position in shares of Builders FirstSource during the 4th quarter worth approximately $38,100,000. Renaissance Technologies LLC boosted its holdings in shares of Builders FirstSource by 51.0% during the 4th quarter. Renaissance Technologies LLC now owns 4,126,819 shares of the company’s stock worth $104,862,000 after purchasing an additional 1,394,719 shares during the last quarter. Victory Capital Management Inc. boosted its holdings in shares of Builders FirstSource by 554.1% during the 1st quarter. Victory Capital Management Inc. now owns 1,024,051 shares of the company’s stock worth $12,524,000 after purchasing an additional 867,500 shares during the last quarter. Finally, Bank of New York Mellon Corp boosted its holdings in shares of Builders FirstSource by 110.4% during the 4th quarter. Bank of New York Mellon Corp now owns 1,529,942 shares of the company’s stock worth $38,878,000 after purchasing an additional 802,934 shares during the last quarter. Institutional investors and hedge funds own 98.59% of the company’s stock.

About Builders FirstSource

Builders FirstSource, Inc manufactures and supplies building materials, manufactured components, and construction services to professional homebuilders, sub-contractors, remodelers, and consumers in the United States. The company operates through four segments: Northeast, Southeast, South, and West. 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, steel roof trusses, wall panels, stairs, and engineered wood products; and windows, and interior and exterior door units, as well as interior trims and custom products under the Synboard brand name.

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Analyst Recommendations for Builders FirstSource (NASDAQ:BLDR)

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