Builders FirstSource (BLDR) Lifted to “Buy” at Zacks Investment Research

Builders FirstSource (NASDAQ:BLDR) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a note issued to investors on Tuesday. The firm presently has a $21.00 price target on the stock. Zacks Investment Research‘s price objective suggests a potential upside of 15.38% from the company’s previous close.

According to Zacks, “Builders FirstSource is a leading supplier and manufacturer of structural and related building products for residential new construction in the United States. Manufacturing facilities include plants that manufacture roof and floor trusses, wall panels, stairs, aluminum and vinyl windows, custom millwork and pre-hung doors. Builders FirstSource also distributes windows, interior and exterior doors, dimensional lumber and lumber sheet goods, millwork and other building products. “

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Several other brokerages have also recently issued reports on BLDR. Wedbush reiterated an “outperform” rating and set a $30.00 price target on shares of Builders FirstSource in a research report on Thursday, May 10th. Stephens reiterated a “buy” rating and set a $27.00 price target on shares of Builders FirstSource in a research report on Wednesday, January 17th. BidaskClub upgraded shares of Builders FirstSource from a “sell” rating to a “hold” rating in a research report on Saturday, April 7th. Stifel Nicolaus reiterated a “buy” rating on shares of Builders FirstSource in a research report on Friday, March 2nd. Finally, ValuEngine upgraded shares of Builders FirstSource from a “hold” rating to a “buy” rating in a research report on Friday, February 2nd. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and ten have given a buy rating to the company. The company presently has an average rating of “Buy” and an average target price of $23.14.

Shares of NASDAQ BLDR traded down $0.37 during midday trading on Tuesday, hitting $18.20. 1,435,100 shares of the company traded hands, compared to its average volume of 1,200,744. Builders FirstSource has a 12-month low of $18.06 and a 12-month high of $18.53. The company has a debt-to-equity ratio of 4.81, a current ratio of 2.09 and a quick ratio of 1.15. The stock has a market capitalization of $2.17 billion, a P/E ratio of 14.33 and a beta of 2.07.

Builders FirstSource (NASDAQ:BLDR) last announced its quarterly earnings results on Wednesday, May 9th. The company reported $0.24 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.16 by $0.08. Builders FirstSource had a net margin of 0.81% and a return on equity of 41.83%. The company had revenue of $1.70 billion for the quarter, compared to analysts’ expectations of $1.69 billion. During the same quarter in the previous year, the company earned $0.11 earnings per share. Builders FirstSource’s quarterly revenue was up 10.9% on a year-over-year basis. research analysts anticipate that Builders FirstSource will post 1.85 earnings per share for the current year.

In other Builders FirstSource news, CFO Peter M. Jackson sold 11,972 shares of the company’s stock in a transaction dated Thursday, March 8th. The shares were sold at an average price of $21.44, for a total value of $256,679.68. Following the sale, the chief financial officer now owns 32,305 shares in the company, valued at $692,619.20. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, SVP Donald F. Mcaleenan sold 194,043 shares of the company’s stock in a transaction dated Monday, March 12th. The stock was sold at an average price of $21.66, for a total transaction of $4,202,971.38. Following the completion of the sale, the senior vice president now owns 442,148 shares in the company, valued at approximately $9,576,925.68. The disclosure for this sale can be found here. In the last 90 days, insiders sold 409,650 shares of company stock worth $8,790,722. Corporate insiders own 2.30% of the company’s stock.

A number of institutional investors and hedge funds have recently made changes to their positions in BLDR. DekaBank Deutsche Girozentrale purchased a new stake in shares of Builders FirstSource during the first quarter valued at approximately $112,000. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of Builders FirstSource by 58.9% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,462 shares of the company’s stock valued at $163,000 after buying an additional 2,766 shares during the last quarter. Tocqueville Asset Management L.P. purchased a new stake in shares of Builders FirstSource during the fourth quarter valued at approximately $207,000. SG Americas Securities LLC purchased a new stake in shares of Builders FirstSource during the first quarter valued at approximately $224,000. Finally, Paloma Partners Management Co purchased a new stake in shares of Builders FirstSource during the fourth quarter valued at approximately $226,000. Institutional investors and hedge funds own 97.65% of the company’s stock.

About Builders FirstSource

Builders FirstSource, Inc manufactures and supplies building materials, manufactured components, and construction services to professional homebuilders, sub-contractors, remodelers, and consumers in the United States. The company operates through four segments: Northeast, Southeast, South, and West. Its products include lumber and lumber sheet goods comprising dimensional lumber, plywood, and OSB products that are used in on-site house framing; and windows, and interior and exterior door units, as well as interior trims and custom products under the Synboard brand.

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