Builders FirstSource (NYSE:BLDR) Given New $93.00 Price Target at BMO Capital Markets

Builders FirstSource (NYSE:BLDR) had its price target cut by investment analysts at BMO Capital Markets from $100.00 to $93.00 in a research report issued to clients and investors on Monday,MarketScreener reports. The brokerage currently has a “market perform” rating on the stock. BMO Capital Markets’ price target indicates a potential upside of 25.77% from the stock’s previous close.

Several other equities research analysts also recently weighed in on the stock. Wells Fargo & Company reduced their target price on shares of Builders FirstSource from $87.00 to $85.00 and set an “equal weight” rating on the stock in a research note on Friday. Stephens dropped their price target on shares of Builders FirstSource from $125.00 to $100.00 and set an “equal weight” rating for the company in a research note on Monday, April 27th. Zacks Research downgraded shares of Builders FirstSource from a “hold” rating to a “strong sell” rating in a report on Friday. Barclays reduced their price objective on shares of Builders FirstSource from $114.00 to $93.00 and set an “overweight” rating on the stock in a research report on Friday. Finally, DA Davidson dropped their target price on Builders FirstSource from $111.00 to $84.00 and set a “neutral” rating for the company in a research report on Friday. Nine equities research analysts have rated the stock with a Buy rating, ten have given a Hold rating and four have assigned a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $101.88.

Builders FirstSource Price Performance

Shares of Builders FirstSource stock opened at $73.95 on Monday. The stock has a market cap of $8.18 billion, a price-to-earnings ratio of 28.34, a price-to-earnings-growth ratio of 2.35 and a beta of 1.49. The company has a debt-to-equity ratio of 1.15, a quick ratio of 1.09 and a current ratio of 1.76. The stock has a 50 day moving average price of $89.22 and a 200-day moving average price of $104.78. Builders FirstSource has a one year low of $73.43 and a one year high of $151.03.

Builders FirstSource (NYSE:BLDR) last released its quarterly earnings results on Thursday, April 30th. The company reported $0.27 earnings per share for the quarter, missing the consensus estimate of $0.39 by ($0.12). The company had revenue of $3.29 billion for the quarter, compared to analysts’ expectations of $3.17 billion. Builders FirstSource had a net margin of 1.97% and a return on equity of 14.89%. The business’s quarterly revenue was down 10.1% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.51 EPS. Equities analysts expect that Builders FirstSource will post 5.43 EPS for the current year.

Builders FirstSource announced that its Board of Directors has initiated a share buyback plan on Thursday, April 30th that authorizes the company to buyback $500.00 million in shares. This buyback authorization authorizes the company to purchase up to 5.4% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s management believes its shares are undervalued.

Insider Activity at Builders FirstSource

In related news, Director Paul S. Levy purchased 50,000 shares of the business’s stock in a transaction dated Friday, March 13th. The shares were purchased at an average cost of $87.73 per share, for a total transaction of $4,386,500.00. Following the completion of the acquisition, the director owned 1,727,191 shares in the company, valued at approximately $151,526,466.43. This trade represents a 2.98% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 2.70% of the company’s stock.

Institutional Investors Weigh In On Builders FirstSource

Large investors have recently added to or reduced their stakes in the stock. Caitong International Asset Management Co. Ltd grew its stake in Builders FirstSource by 167.1% in the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 211 shares of the company’s stock worth $26,000 after acquiring an additional 132 shares in the last quarter. Cromwell Holdings LLC raised its stake in shares of Builders FirstSource by 1,323.5% during the fourth quarter. Cromwell Holdings LLC now owns 242 shares of the company’s stock valued at $25,000 after acquiring an additional 225 shares in the last quarter. TD Waterhouse Canada Inc. purchased a new stake in shares of Builders FirstSource in the third quarter valued at approximately $34,000. CYBER HORNET ETFs LLC bought a new position in Builders FirstSource in the second quarter worth approximately $38,000. Finally, MUFG Securities EMEA plc bought a new position in Builders FirstSource in the second quarter worth approximately $38,000. 95.53% of the stock is owned by hedge funds and other institutional investors.

About Builders FirstSource

Builders FirstSource, Inc is a leading supplier of structural and value-added building products and services to professional contractors, homebuilders and remodelers. The company provides a comprehensive range of materials and prefabricated components that support all phases of residential construction, from site development and framing to finishing and installation.

The company’s core offerings include lumber and lumber sheet goods, windows and doors, millwork, roofing and siding, and engineered wood products such as roof and floor trusses.