DA Davidson Predicts Lower Earnings for Builders FirstSource

Builders FirstSource, Inc. (NYSE:BLDR) – DA Davidson dropped their Q3 2024 earnings estimates for Builders FirstSource in a report released on Thursday, October 24th. DA Davidson analyst K. Yinger now anticipates that the company will post earnings per share of $3.03 for the quarter, down from their prior estimate of $3.06. The consensus estimate for Builders FirstSource’s current full-year earnings is $11.68 per share. DA Davidson also issued estimates for Builders FirstSource’s FY2025 earnings at $12.83 EPS.

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 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 firm had revenue of $4.46 billion during the quarter, compared to analysts’ expectations of $4.48 billion. During the same quarter last year, the company posted $3.89 earnings per share. The firm’s revenue was down 1.6% compared to the same quarter last year.

BLDR has been the topic of a number of other reports. StockNews.com raised shares of Builders FirstSource from a “hold” rating to a “buy” rating in a research note on Monday, September 23rd. Stifel Nicolaus reduced their target price on shares of Builders FirstSource from $217.00 to $195.00 and set a “buy” rating on the stock in a research note on Thursday, August 8th. UBS Group started coverage on shares of Builders FirstSource in a research note on Friday. They set a “buy” rating and a $232.00 target price on the stock. Robert W. Baird boosted their price target on shares of Builders FirstSource from $190.00 to $222.00 and gave the company an “outperform” rating in a research note on Wednesday, October 16th. Finally, B. Riley reduced their price target on shares of Builders FirstSource from $197.00 to $187.00 and set a “buy” rating on the stock in a research note on Wednesday, August 7th. Four investment analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $200.35.

Builders FirstSource Stock Down 0.5 %

Shares of NYSE BLDR opened at $180.80 on Monday. The company’s 50-day simple moving average is $183.91 and its 200-day simple moving average is $168.79. 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 $22.07 billion, a price-to-earnings ratio of 15.48, a price-to-earnings-growth ratio of 11.48 and a beta of 2.06. The company has a quick ratio of 1.14, a current ratio of 1.83 and a debt-to-equity ratio of 0.88.

Hedge Funds Weigh In On Builders FirstSource

Hedge funds and other institutional investors have recently modified their holdings of the company. First Trust Direct Indexing L.P. grew its position in Builders FirstSource by 75.7% in the 3rd quarter. First Trust Direct Indexing L.P. now owns 5,861 shares of the company’s stock valued at $1,136,000 after buying an additional 2,525 shares in the last quarter. Trajan Wealth LLC raised its position in Builders FirstSource by 5.6% during the third quarter. Trajan Wealth LLC now owns 1,608 shares of the company’s stock valued at $312,000 after acquiring an additional 85 shares in the last quarter. Avitas Wealth Management LLC raised its position in Builders FirstSource by 16.9% during the third quarter. Avitas Wealth Management LLC now owns 2,641 shares of the company’s stock valued at $512,000 after acquiring an additional 381 shares in the last quarter. Fidelis Capital Partners LLC bought a new position in Builders FirstSource during the third quarter valued at approximately $569,000. Finally, Diversify Advisory Services LLC acquired a new position in Builders FirstSource during the third quarter valued at approximately $240,000. Institutional investors and hedge funds own 95.53% of the company’s stock.

Insider Buying and Selling

In other Builders FirstSource news, Director Craig Arthur Steinke sold 30,000 shares of Builders FirstSource stock in a transaction on Thursday, August 8th. The shares were 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 $14,650,775.44. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link. Insiders own 1.80% of the company’s stock.

Builders FirstSource announced that its Board of Directors has initiated a stock repurchase program on Tuesday, August 6th that authorizes the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization authorizes the company to buy up to 5.3% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s management believes its stock is undervalued.

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.