Oppenheimer Cuts Builders FirstSource (NYSE:BLDR) Price Target to $110.00

Builders FirstSource (NYSE:BLDR) had its price objective lowered by stock analysts at Oppenheimer from $121.00 to $110.00 in a note issued to investors on Thursday,Benzinga reports. The brokerage currently has an “outperform” rating on the stock. Oppenheimer’s price objective indicates a potential upside of 57.84% from the company’s previous close.

Several other brokerages have also recently issued reports on BLDR. Barclays reduced their target price on shares of Builders FirstSource from $114.00 to $93.00 and set an “overweight” rating for the company in a report on Friday, May 1st. Loop Capital reduced their price objective on Builders FirstSource from $140.00 to $110.00 in a research note on Friday, May 1st. BMO Capital Markets decreased their price objective on Builders FirstSource from $100.00 to $93.00 and set a “market perform” rating for the company in a report on Monday, May 4th. Benchmark restated a “buy” rating on shares of Builders FirstSource in a research note on Thursday. Finally, Jefferies Financial Group dropped their target price on Builders FirstSource from $85.00 to $80.00 and set a “hold” rating on the stock in a report on Monday, May 4th. Nine analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $99.83.

Builders FirstSource Stock Performance

Shares of BLDR stock traded down $1.34 during mid-day trading on Thursday, reaching $69.69. The stock had a trading volume of 237,472 shares, compared to its average volume of 2,425,603. Builders FirstSource has a 1-year low of $65.10 and a 1-year high of $151.03. The firm has a market cap of $7.50 billion, a price-to-earnings ratio of 26.62, a PEG ratio of 1.66 and a beta of 1.42. The company has a current ratio of 1.76, a quick ratio of 1.09 and a debt-to-equity ratio of 1.15. The business’s fifty day moving average is $77.12 and its 200-day moving average is $91.71.

Builders FirstSource (NYSE:BLDR) last posted its quarterly earnings results on Thursday, April 30th. The company reported $0.27 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.39 by ($0.12). Builders FirstSource had a return on equity of 14.89% and a net margin of 1.97%.The business had revenue of $3.29 billion for the quarter, compared to analysts’ expectations of $3.17 billion. During the same period in the prior year, the business posted $1.51 earnings per share. The business’s quarterly revenue was down 10.1% compared to the same quarter last year. On average, research analysts forecast that Builders FirstSource will post 4.29 earnings per share for the current year.

Builders FirstSource declared that its Board of Directors has authorized a stock buyback plan on Thursday, April 30th that allows the company to repurchase $500.00 million in shares. This repurchase authorization allows the company to reacquire up to 5.4% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s leadership believes its shares are undervalued.

Hedge Funds Weigh In On Builders FirstSource

A number of hedge funds have recently bought and sold shares of the business. Integrated Wealth Concepts LLC lifted its position in shares of Builders FirstSource by 9.3% during the 1st quarter. Integrated Wealth Concepts LLC now owns 3,460 shares of the company’s stock valued at $432,000 after buying an additional 295 shares in the last quarter. Woodline Partners LP increased its holdings in Builders FirstSource by 40.7% in the 1st quarter. Woodline Partners LP now owns 9,723 shares of the company’s stock worth $1,215,000 after acquiring an additional 2,812 shares in the last quarter. EverSource Wealth Advisors LLC raised its position in Builders FirstSource by 180.0% during the second quarter. EverSource Wealth Advisors LLC now owns 1,582 shares of the company’s stock worth $185,000 after acquiring an additional 1,017 shares during the period. Baird Financial Group Inc. raised its position in Builders FirstSource by 230.7% during the second quarter. Baird Financial Group Inc. now owns 18,942 shares of the company’s stock worth $2,210,000 after acquiring an additional 13,215 shares during the period. Finally, Jump Financial LLC lifted its holdings in Builders FirstSource by 144.1% during the second quarter. Jump Financial LLC now owns 7,223 shares of the company’s stock valued at $843,000 after purchasing an additional 4,264 shares in the last quarter. Hedge funds and other institutional investors own 95.53% of the company’s stock.

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.