Builders FirstSource (NYSE:BLDR) Shares Gap Up Following Analyst Upgrade

Builders FirstSource, Inc. (NYSE:BLDR) gapped up prior to trading on Thursday after Jefferies Financial Group raised their price target on the stock from $226.00 to $237.00. The stock had previously closed at $179.31, but opened at $184.44. Jefferies Financial Group currently has a buy rating on the stock. Builders FirstSource shares last traded at $183.63, with a volume of 151,998 shares changing hands.

A number of other research analysts have also recently commented on BLDR. StockNews.com raised shares of Builders FirstSource from a “hold” rating to a “buy” rating in a research report on Wednesday, February 21st. Bank of America raised shares of Builders FirstSource from a “neutral” rating to a “buy” rating and increased their price target for the stock from $153.00 to $200.00 in a research report on Monday, January 29th. DA Davidson reissued a “neutral” rating and set a $185.00 price target on shares of Builders FirstSource in a research report on Thursday, March 28th. Truist Financial increased their price target on shares of Builders FirstSource from $185.00 to $190.00 and gave the stock a “hold” rating in a research report on Friday, February 23rd. Finally, Wedbush increased their price target on shares of Builders FirstSource from $175.00 to $225.00 and gave the stock an “outperform” rating in a research report on Monday, February 12th. Four analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $190.06.

Insider Buying and Selling at Builders FirstSource

In other news, Director Cory Jacobs Boydston sold 7,759 shares of the firm’s stock in a transaction that occurred on Tuesday, March 12th. The shares were sold at an average price of $200.00, for a total transaction of $1,551,800.00. Following the transaction, the director now directly owns 28,738 shares in the company, valued at $5,747,600. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 1.90% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Builders FirstSource

Hedge funds have recently modified their holdings of the business. Vanguard Group Inc. grew its position in Builders FirstSource by 0.5% in the 1st quarter. Vanguard Group Inc. now owns 17,422,176 shares of the company’s stock valued at $1,124,428,000 after buying an additional 86,484 shares during the last quarter. Wellington Management Group LLP grew its position in Builders FirstSource by 14.8% in the 1st quarter. Wellington Management Group LLP now owns 11,277,012 shares of the company’s stock valued at $727,819,000 after buying an additional 1,455,580 shares during the last quarter. State Street Corp grew its position in Builders FirstSource by 0.4% in the 1st quarter. State Street Corp now owns 4,552,723 shares of the company’s stock valued at $404,191,000 after buying an additional 17,357 shares during the last quarter. Alliancebernstein L.P. grew its position in Builders FirstSource by 182.0% in the 2nd quarter. Alliancebernstein L.P. now owns 2,305,047 shares of the company’s stock valued at $313,486,000 after buying an additional 1,487,620 shares during the last quarter. Finally, Geode Capital Management LLC grew its position in Builders FirstSource by 1.7% in the 1st quarter. Geode Capital Management LLC now owns 2,138,839 shares of the company’s stock valued at $190,771,000 after buying an additional 35,562 shares during the last quarter. 95.53% of the stock is currently owned by hedge funds and other institutional investors.

Builders FirstSource Trading Down 3.0 %

The business’s 50-day moving average is $195.30 and its two-hundred day moving average is $162.76. The company has a debt-to-equity ratio of 0.67, a quick ratio of 1.11 and a current ratio of 1.77. The stock has a market capitalization of $21.57 billion, a PE ratio of 14.75, a price-to-earnings-growth ratio of 1.09 and a beta of 2.04.

Builders FirstSource (NYSE:BLDR) last released its earnings results on Thursday, February 22nd. The company reported $3.55 EPS for the quarter, beating analysts’ consensus estimates of $2.70 by $0.85. Builders FirstSource had a return on equity of 41.10% and a net margin of 9.01%. The company had revenue of $4.15 billion during the quarter, compared to the consensus estimate of $4.01 billion. As a group, equities research analysts anticipate that Builders FirstSource, Inc. will post 13.84 earnings per share for the current year.

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.