Builders FirstSource (NYSE:BLDR) Upgraded to “Buy” by StockNews.com

StockNews.com upgraded shares of Builders FirstSource (NYSE:BLDR) from a hold rating to a buy rating in a research report sent to investors on Tuesday morning.

BLDR has been the subject of a number of other reports. Zelman & Associates reaffirmed a hold rating on shares of Builders FirstSource in a research note on Monday, June 17th. Royal Bank of Canada cut their price objective on Builders FirstSource from $193.00 to $178.00 and set an outperform rating for the company in a research report on Wednesday, August 7th. Benchmark cut their price objective on Builders FirstSource from $220.00 to $200.00 and set a buy rating for the company in a research report on Wednesday, August 7th. Robert W. Baird raised Builders FirstSource from a neutral rating to an outperform rating and raised their price objective for the stock from $185.00 to $190.00 in a research report on Wednesday, August 7th. Finally, Bank of America downgraded Builders FirstSource from a buy rating to a neutral rating and cut their price objective for the stock from $183.00 to $180.00 in a research report on Friday, August 2nd. Four investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of Moderate Buy and a consensus target price of $190.00.

Builders FirstSource Stock Down 2.0 %

Shares of BLDR opened at $197.74 on Tuesday. Builders FirstSource has a 52-week low of $105.24 and a 52-week high of $214.70. The company has a market capitalization of $24.14 billion, a PE ratio of 16.93, a price-to-earnings-growth ratio of 10.06 and a beta of 2.06. The stock has a fifty day simple moving average of $167.76 and a two-hundred day simple moving average of $171.06. The company has a quick ratio of 1.14, a current ratio of 1.83 and a debt-to-equity ratio of 0.88.

Builders FirstSource (NYSE:BLDR) last issued its earnings results on Tuesday, August 6th. The company reported $3.50 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.02 by $0.48. Builders FirstSource had a return on equity of 37.05% and a net margin of 8.25%. The business had revenue of $4.46 billion during the quarter, compared to the consensus estimate of $4.48 billion. During the same period last year, the company earned $3.89 EPS. The company’s revenue for the quarter was down 1.6% on a year-over-year basis. As a group, equities analysts forecast that Builders FirstSource will post 11.65 EPS for the current year.

Builders FirstSource declared that its Board of Directors has initiated a stock repurchase plan on Tuesday, August 6th that authorizes the company to repurchase $1.00 billion in shares. This repurchase authorization authorizes the company to buy up to 5.3% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s board believes its stock is undervalued.

Insider Activity

In other news, Director Craig Arthur Steinke sold 30,000 shares of Builders FirstSource 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 completion of the transaction, the director now owns 95,333 shares in the company, valued at approximately $14,650,775.44. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 1.80% of the company’s stock.

Hedge Funds Weigh In On Builders FirstSource

Several hedge funds and other institutional investors have recently made changes to their positions in BLDR. Vanguard Group Inc. boosted its stake in shares of Builders FirstSource by 15.7% in the 4th quarter. Vanguard Group Inc. now owns 14,668,049 shares of the company’s stock valued at $2,448,684,000 after buying an additional 1,985,297 shares during the period. Norges Bank acquired a new stake in shares of Builders FirstSource during the 4th quarter worth about $212,209,000. Massachusetts Financial Services Co. MA raised its position in shares of Builders FirstSource by 339.8% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 1,180,358 shares of the company’s stock worth $163,373,000 after acquiring an additional 911,990 shares in the last quarter. Bessemer Group Inc. raised its position in shares of Builders FirstSource by 477,028.7% during the 1st quarter. Bessemer Group Inc. now owns 448,501 shares of the company’s stock worth $93,535,000 after acquiring an additional 448,407 shares in the last quarter. Finally, Clearbridge Investments LLC acquired a new stake in shares of Builders FirstSource during the 2nd quarter worth about $49,000,000. Hedge funds and other institutional investors own 95.53% of the company’s stock.

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.