Builders FirstSource (NYSE:BLDR) received an “Outperform” rating from Oppenheimer

Oppenheimer reaffirmed its outperform rating on the stock Builders FirstSource (NYSE:BLDR – Free Report) in a research report sent to investors on Thursday, Benzinga reports. They currently have a $190.00 target price on the stock, down from their previous price target of $230.00.

BLDR has been the subject of a number of other research reports. Royal Bank of Canada cut their price target on Builders FirstSource from $193.00 to $178.00 and set an outperform rating for the company in a report on Wednesday, August 7th. Wedbush reissued an outperform rating and issued a $175.00 price objective on shares of Builders FirstSource in a research note on Tuesday, August 6th. Robert W. Baird raised Builders FirstSource from a neutral rating to an outperform rating and lifted their price target for the company from $185.00 to $190.00 in a research note on Wednesday, August 7th. Baird RW upgraded Builders FirstSource from a hold rating to a strong-buy rating in a report on Wednesday, August 7th. Finally, Barclays cut their price target on shares of Builders FirstSource from $188.00 to $182.00 and set an overweight rating for the company in a report on Wednesday, August 7th. Six equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company. The stock has a consensus rating of Moderate Buy and an average price target of $180.47, based on data from MarketBeat.

Check out our latest report on BLDR

Builders FirstSource trading up 1.0%

BLDR traded up $1.63 during trading on Thursday, reaching $157.14. The company had a trading volume of 198,444 shares, compared to its average volume of 1,638,527. The company’s 50-day simple moving average is $149.36, and its 200-day simple moving average is $173.15. The company has a debt-to-equity ratio of 0.75, a quick ratio of 1.45, and a current ratio of 2.21. The company has a market cap of $19.18 billion, a price-to-earnings ratio of 13.31, a PEG ratio of 2.57 and a beta of 2.04. Builders FirstSource has a 12-month low of $105.24 and a 12-month high of $214.70.

Builders FirstSource (NYSE:BLDR – Get Your Free Report ) last posted its earnings results on Tuesday, August 6th. The company reported $3.50 earnings per share for the quarter, topping the consensus estimate of $3.02 by $0.48. The company had revenue of $4.46 billion for the quarter, compared to the consensus estimate of $4.48 billion. Builders FirstSource had a net margin of 8.57% and a return on equity of 38.66%. The company’s quarterly revenue was down 1.6% compared to the same quarter last year. During the same period last year, the company posted earnings per share of $3.89. equities research analysts anticipate that Builders FirstSource will post 12.91 earnings per share for the current year.

Builders FirstSource declared that its board has approved a stock buyback program on Tuesday, August 6th that permits the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization allows the company to repurchase up to 5.3% of its shares through open market purchases. Stock buyback programs are usually a sign that a company’s board of directors believes its stock is undervalued.

Insider Buying and Selling at Builders FirstSource

In other news, insider Paul M. Mccrobie sold 9,118 shares of the company’s stock in a transaction dated Friday, May 24th. The shares were sold at an average price of $170.11, for a total transaction of $1,551,062.98. Following the completion of the sale, the insider now owns 22,667 shares in the company, valued at approximately $3,855,883.37. The transaction was disclosed in a filing with the SEC, which is accessible via this hyperlink. In related news, insider Michael Hiller sold 4,875 shares of the business’s stock in a transaction dated Thursday, May 30th. The shares were sold at an average price of $159.25, for a total value of $776,343.75. Following the transaction, the insider now directly owns 30,106 shares in the company, valued at approximately $4,794,380.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible via this link. Also, insider Paul M. Mccrobie sold 9,118 shares of the company’s stock in a transaction on Friday, May 24th. The shares were sold at an average price of $170.11, for a total transaction of $1,551,062.98. Following the transaction, the insider now directly owns 22,667 shares of the company’s stock, valued at approximately $3,855,883.37. The disclosure for this sale can be found here. Corporate insiders own 1.80% of the company’s shares.

Hedge funds influence FirstSource builders

A number of institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. grew its holdings in 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 purchasing an additional 1,985,297 shares in the last quarter. Westfield Capital Management Co. LP boosted its position in shares of Builders FirstSource by 11.2% in the fourth quarter. Westfield Capital Management Co. LP now owns 1,416,611 shares of the company’s stock valued at $236,489,000 after acquiring an additional 143,041 shares during the period. Boston Partners raised its stake in shares of Builders FirstSource by 0.8% in the first quarter. Boston Partners now owns 1,377,335 shares of the company’s stock worth $285,794,000 after acquiring an additional 10,551 shares in the last quarter. Norges Bank bought a new position in Builders FirstSource during the fourth quarter valued at $212,209,000. Finally, Massachusetts Financial Services Co. MA grew its stake in 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 valued at $163,373,000 after buying an additional 911,990 shares during the last quarter. 95.53% of shares are currently owned by institutional investors.

About Builders FirstSource

(Get a free report)

Builders FirstSource, Inc, together with its subsidiaries, manufactures and supplies building materials, manufactured components and construction services to professional home builders, subcontractors, remodelers and consumers in the United States. Provides lumber and sheet goods that include dimensional lumber, plywood and oriented strand board products that are used within the home on site; manufactured products such as wood floor and roof trusses, floor trusses, wall panels, stairs and engineered wood products; and interior and exterior window and door units, as well as interior trim and custom products comprising intricate moldings, stair parts and columns under the Synboard brand.

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