Royal Bank of Canada Increases Builders FirstSource (NYSE:BLDR) Price Target to $187.00

Builders FirstSource (NYSE:BLDR) had its price objective hoisted by analysts at Royal Bank of Canada from $178.00 to $187.00 in a note issued to investors on Wednesday, Benzinga reports. The brokerage presently has an “outperform” rating on the stock. Royal Bank of Canada’s target price indicates a potential upside of 6.72% from the stock’s current price.

Other equities analysts also recently issued reports about the company. Jefferies Financial Group raised their price objective on Builders FirstSource from $185.00 to $223.00 and gave the stock a “buy” rating in a report on Wednesday, October 9th. Stifel Nicolaus reduced their price target on Builders FirstSource from $217.00 to $195.00 and set a “buy” rating on the stock in a research report on Thursday, August 8th. Truist Financial raised Builders FirstSource from a “hold” rating to a “buy” rating and boosted their price target for the stock from $165.00 to $220.00 in a research report on Monday, September 16th. Benchmark reduced their price target on Builders FirstSource from $220.00 to $200.00 and set a “buy” rating on the stock in a research report on Wednesday, August 7th. Finally, B. Riley reduced their price target on Builders FirstSource from $197.00 to $187.00 and set a “buy” rating on the stock in a research report on Wednesday, August 7th. Four research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $207.50.

Builders FirstSource Trading Down 3.2 %

NYSE:BLDR traded down $5.77 during mid-day trading on Wednesday, reaching $175.22. The company’s stock had a trading volume of 1,680,883 shares, compared to its average volume of 1,569,338. The company’s fifty day simple moving average is $184.50 and its two-hundred day simple moving average is $168.39. The company has a debt-to-equity ratio of 0.88, a current ratio of 1.83 and a quick ratio of 1.14. Builders FirstSource has a twelve month low of $120.80 and a twelve month high of $214.70. The stock has a market cap of $20.40 billion, a P/E ratio of 15.35, a P/E/G ratio of 10.15 and a beta of 2.08.

Builders FirstSource (NYSE:BLDR) last released its quarterly earnings data on Tuesday, November 5th. The company reported $3.07 EPS for the quarter, missing analysts’ consensus estimates of $3.09 by ($0.02). The firm had revenue of $4.23 billion during the quarter, compared to analysts’ expectations of $4.44 billion. Builders FirstSource had a return on equity of 37.05% and a net margin of 8.25%. The business’s revenue for the quarter was down 6.7% compared to the same quarter last year. During the same quarter last year, the business earned $4.24 earnings per share. On average, equities analysts predict that Builders FirstSource will post 11.69 EPS for the current year.

Builders FirstSource declared that its Board of Directors has approved a share buyback program on Tuesday, August 6th that authorizes the company to buyback $1.00 billion in shares. This buyback authorization authorizes the company to repurchase up to 5.3% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s board of directors believes its shares are undervalued.

Insider Buying and Selling

In other news, Director Craig Arthur Steinke sold 30,000 shares of the stock in a transaction on 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 of the company’s stock, valued at approximately $14,650,775.44. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 1.80% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the business. Innealta Capital LLC acquired a new stake in shares of Builders FirstSource in the second quarter valued at $27,000. Armstrong Advisory Group Inc. acquired a new stake in shares of Builders FirstSource in the third quarter valued at $30,000. ORG Partners LLC acquired a new stake in shares of Builders FirstSource in the first quarter valued at $33,000. First Horizon Advisors Inc. lifted its holdings in shares of Builders FirstSource by 42.1% in the second quarter. First Horizon Advisors Inc. now owns 253 shares of the company’s stock valued at $35,000 after buying an additional 75 shares during the period. Finally, New Millennium Group LLC acquired a new stake in shares of Builders FirstSource in the second quarter valued at $38,000. 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.