Builders FirstSource (NYSE:BLDR) Price Target Increased to $230.00 by Analysts at Loop Capital

Builders FirstSource (NYSE:BLDR) had its price target hoisted by Loop Capital from $190.00 to $230.00 in a research note released on Friday, Benzinga reports. The brokerage currently has a buy rating on the stock.

BLDR has been the topic of several other reports. Wedbush reissued an outperform rating and set a $175.00 target price on shares of Builders FirstSource in a research note on Tuesday, August 6th. Oppenheimer increased their target price on shares of Builders FirstSource from $205.00 to $225.00 and gave the stock an outperform rating in a research note on Wednesday, September 18th. StockNews.com raised shares of Builders FirstSource from a hold rating to a buy rating in a research note on Tuesday, September 17th. Royal Bank of Canada decreased their price target on shares of Builders FirstSource from $193.00 to $178.00 and set an outperform rating on the stock in a research note on Wednesday, August 7th. Finally, Bank of America raised their price target on shares of Builders FirstSource from $165.00 to $198.00 and gave the company a neutral rating in a research note on Thursday. Four research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Builders FirstSource presently has a consensus rating of Moderate Buy and an average target price of $190.00.

Builders FirstSource Trading Down 2.0 %

BLDR stock opened at $197.74 on Friday. The company’s 50-day simple moving average is $167.76 and its 200-day simple moving average is $170.66. 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 has a 52-week low of $105.24 and a 52-week high of $214.70. The firm has a market cap of $24.14 billion, a P/E ratio of 16.93, a PEG ratio of 10.06 and a beta of 2.06.

Builders FirstSource (NYSE:BLDR) last posted its 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 net margin of 8.25% and a return on equity of 37.05%. The business had revenue of $4.46 billion for the quarter, compared to analyst estimates of $4.48 billion. During the same period in the prior year, the company posted $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 fiscal year.

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

Insider Buying and Selling at Builders FirstSource

In other news, Director Craig Arthur Steinke sold 30,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 8th. The shares were sold at an average price of $153.68, for a total transaction of $4,610,400.00. Following the completion of the sale, the director now owns 95,333 shares in the company, valued at approximately $14,650,775.44. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 1.80% of the stock is owned by insiders.

Institutional Trading of Builders FirstSource

A number of hedge funds and other institutional investors have recently made changes to their positions in BLDR. Innealta Capital LLC acquired a new stake in shares of Builders FirstSource during the 2nd quarter worth approximately $27,000. Westside Investment Management Inc. acquired a new stake in Builders FirstSource in the 1st quarter valued at approximately $31,000. Principal Securities Inc. acquired a new stake in Builders FirstSource in the 4th quarter valued at approximately $32,000. ORG Partners LLC acquired a new stake in Builders FirstSource in the 1st quarter valued at approximately $33,000. Finally, American Capital Advisory LLC acquired a new stake in Builders FirstSource in the 1st quarter valued at approximately $34,000. Institutional investors and hedge funds 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.