Builders FirstSource (NASDAQ:BLDR) Downgraded by BidaskClub

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BidaskClub cut shares of Builders FirstSource (NASDAQ:BLDR) from a buy rating to a hold rating in a report issued on Saturday morning, BidAskClub reports.

A number of other research firms have also recently commented on BLDR. Stifel Nicolaus upped their price objective on Builders FirstSource from $18.00 to $21.00 and gave the company a buy rating in a research report on Monday, May 4th. Barclays upped their price objective on Builders FirstSource from $16.00 to $19.00 and gave the company an equal weight rating in a research report on Monday, May 4th. Stephens reiterated an overweight rating and set a $21.00 price objective (down previously from $32.00) on shares of Builders FirstSource in a research report on Tuesday, April 14th. ValuEngine upgraded Builders FirstSource from a strong sell rating to a sell rating in a research report on Wednesday, May 27th. Finally, TheStreet upgraded Builders FirstSource from a c rating to a b- rating in a research report on Thursday, June 18th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and ten have assigned a buy rating to the stock. The stock presently has an average rating of Buy and an average target price of $21.79.

Builders FirstSource stock opened at $20.70 on Friday. The stock has a market cap of $2.41 billion, a PE ratio of 12.47 and a beta of 2.47. 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 has a one year low of $9.00 and a one year high of $28.43. The stock has a fifty day moving average of $20.41 and a 200 day moving average of $20.92.

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

In other news, insider Jami Lynn Coulter sold 2,000 shares of the company’s stock in a transaction dated Thursday, May 21st. The stock was sold at an average price of $18.67, for a total value of $37,340.00. Following the completion of the transaction, the insider now owns 32,240 shares of the company’s stock, valued at $601,920.80. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Floyd F. Sherman sold 45,903 shares of the company’s stock in a transaction dated Friday, May 15th. The stock was sold at an average price of $16.05, for a total value of $736,743.15. Following the completion of the transaction, the director now directly owns 147,771 shares of the company’s stock, valued at approximately $2,371,724.55. The disclosure for this sale can be found here. In the last ninety days, insiders sold 103,000 shares of company stock valued at $1,951,715. Corporate insiders own 1.80% of the company’s stock.

Institutional investors have recently made changes to their positions in the stock. Credit Suisse AG boosted its stake in Builders FirstSource by 116.1% during the fourth quarter. Credit Suisse AG now owns 284,203 shares of the company’s stock valued at $7,221,000 after buying an additional 152,678 shares during the last quarter. Oxford Asset Management LLP boosted its stake in Builders FirstSource by 40.9% during the fourth quarter. Oxford Asset Management LLP now owns 105,249 shares of the company’s stock valued at $2,674,000 after buying an additional 30,534 shares during the last quarter. Norges Bank bought a new position in Builders FirstSource during the fourth quarter valued at approximately $38,100,000. Mackenzie Financial Corp bought a new position in Builders FirstSource during the first quarter valued at approximately $426,000. Finally, Barclays PLC boosted its stake in Builders FirstSource by 29.6% during the fourth quarter. Barclays PLC now owns 245,613 shares of the company’s stock valued at $6,241,000 after buying an additional 56,152 shares during the last quarter. 98.59% of the stock is owned by institutional investors.

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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