Royal Bank of Canada Lowers Builders FirstSource (NYSE:BLDR) Price Target to $162.00

Builders FirstSource (NYSE:BLDR) had its price target cut by stock analysts at Royal Bank of Canada from $167.00 to $162.00 in a report issued on Friday,Benzinga reports. The brokerage currently has an “outperform” rating on the stock. Royal Bank of Canada’s target price indicates a potential upside of 20.19% from the stock’s previous close.

Several other research firms have also recently weighed in on BLDR. Benchmark dropped their price target on shares of Builders FirstSource from $200.00 to $170.00 and set a “buy” rating for the company in a research note on Friday. Stifel Nicolaus restated a “buy” rating and issued a $175.00 price objective on shares of Builders FirstSource in a report on Wednesday, January 8th. DA Davidson upped their price objective on shares of Builders FirstSource from $169.00 to $175.00 and gave the stock a “neutral” rating in a report on Wednesday, November 6th. Truist Financial decreased their price objective on shares of Builders FirstSource from $220.00 to $180.00 and set a “buy” rating on the stock in a report on Friday. Finally, Barclays decreased their price objective on shares of Builders FirstSource from $211.00 to $188.00 and set an “overweight” rating on the stock in a report on Thursday, January 16th. Four analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $196.88.

Builders FirstSource Price Performance

Shares of Builders FirstSource stock traded down $9.60 during trading hours on Friday, reaching $134.79. The stock had a trading volume of 1,352,337 shares, compared to its average volume of 1,590,016. The stock’s 50 day moving average is $154.79 and its 200 day moving average is $170.61. The firm has a market capitalization of $15.51 billion, a PE ratio of 13.16, a PEG ratio of 0.81 and a beta of 2.12. Builders FirstSource has a twelve month low of $130.75 and a twelve month high of $214.70. The company has a current ratio of 1.77, a quick ratio of 1.16 and a debt-to-equity ratio of 0.83.

Builders FirstSource (NYSE:BLDR) last released its earnings results on Thursday, February 20th. The company reported $2.31 EPS for the quarter, topping analysts’ consensus estimates of $2.18 by $0.13. Builders FirstSource had a net margin of 7.40% and a return on equity of 33.55%. The business had revenue of $3.82 billion during the quarter, compared to analysts’ expectations of $3.90 billion. Equities analysts expect that Builders FirstSource will post 11.5 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Builders FirstSource

A number of large investors have recently modified their holdings of the company. Mountaineer Partners Management LLC purchased a new position in Builders FirstSource during the 3rd quarter worth $2,099,877,000. FMR LLC grew its holdings in shares of Builders FirstSource by 45.7% during the third quarter. FMR LLC now owns 10,158,152 shares of the company’s stock worth $1,969,259,000 after buying an additional 3,186,876 shares in the last quarter. Norges Bank purchased a new stake in Builders FirstSource in the fourth quarter valued at approximately $199,890,000. Baillie Gifford & Co. acquired a new position in Builders FirstSource during the third quarter valued at approximately $267,132,000. Finally, Diamond Hill Capital Management Inc. acquired a new position in shares of Builders FirstSource during the third quarter worth $255,867,000. 95.53% of the stock is owned by hedge funds and other institutional investors.

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.