Builders FirstSource (NYSE:BLDR) Shares Climb 6.9% – Here’s Why

Builders FirstSource, Inc. (NYSE:BLDR) shot up 6.9% on Thursday. The stock traded as high as $53.77 and last traded at $54.0030. 1,174,249 shares were traded during trading, a decline of 53% from the average daily volume of 2,519,394 shares. The stock had previously closed at $50.52.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the stock. Stifel Nicolaus set a $65.00 target price on shares of Builders FirstSource in a research note on Friday, September 18th. Royal Bank Of Canada cut their price target on shares of Builders FirstSource from $107.00 to $88.00 and set an “outperform” rating on the stock in a research report on Friday, July 31st. Citigroup reissued a “market perform” rating on shares of Builders FirstSource in a report on Thursday, October 8th. Robert W. Baird set a $75.00 price objective on shares of Builders FirstSource in a research note on Friday, July 31st. Finally, DA Davidson set a $68.00 target price on Builders FirstSource in a report on Friday, July 31st. Nine research analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and three have assigned a Sell rating to the company’s stock. According to data from MarketBeat, Builders FirstSource has a consensus rating of “Hold” and an average target price of $84.50.

Builders FirstSource Stock Performance

The company has a current ratio of 1.79, a quick ratio of 1.09 and a debt-to-equity ratio of 1.14. The business has a fifty day moving average of $62.87 and a 200-day moving average of $73.00. The company has a market cap of $5.72 billion, a PE ratio of 58.22, a P/E/G ratio of 1.66 and a beta of 1.45.

Builders FirstSource (NYSE:BLDR) last issued its quarterly earnings results on Thursday, July 30th. The company reported $1.17 EPS for the quarter, missing analysts’ consensus estimates of $1.25 by ($0.08). The company had revenue of $3.86 billion during the quarter, compared to the consensus estimate of $3.91 billion. Builders FirstSource had a return on equity of 11.73% and a net margin of 0.71%. The business’s revenue for the quarter was down 8.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.38 earnings per share. Equities research analysts anticipate that Builders FirstSource, Inc. will post 3.19 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in BLDR. Mainsail Asset Management LLC bought a new position in Builders FirstSource in the third quarter worth approximately $267,000. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors bought a new position in shares of Builders FirstSource during the 3rd quarter worth approximately $256,000. KG Capital Management acquired a new stake in Builders FirstSource in the 3rd quarter worth approximately $189,000. Fort Washington Investment Advisors Inc. OH acquired a new stake in shares of Builders FirstSource in the third quarter worth $48,738,000. Finally, B.A. Schrock Wealth Management Inc. purchased a new stake in shares of Builders FirstSource during the 3rd quarter worth about $396,000. 95.53% of the stock is currently owned by institutional investors.

Builders FirstSource Company Profile

Builders FirstSource, Inc (NYSE: BLDR) is a supplier and manufacturer of building materials, manufactured components and construction services for professional homebuilders, contractors, remodelers and other construction professionals in the United States. The company serves customers through a network of locations across the country and supports both residential and selected commercial construction projects.

Its product offerings include lumber and other structural materials, engineered wood products, windows, interior and exterior doors, roofing, siding, cabinets, flooring and related building supplies.